enCore Energy Target of Unusually Large Options Trading (NASDAQ:EU)

enCore Energy Corp. (NASDAQ:EU) was the recipient of unusually large options trading activity on Tuesday. Traders acquired 3,577 call options on the stock. This represents an increase of approximately 410% compared to the typical volume of 701 call options.

Analysts Set New Price Targets

Separately, HC Wainwright lowered their target price on shares of enCore Energy from $7.00 to $2.75 and set a “buy” rating for the company in a report on Tuesday, March 18th.

enCore Energy Stock Performance

EU traded down $0.10 during midday trading on Tuesday, reaching $1.54. 702,894 shares of the company were exchanged, compared to its average volume of 1,389,949. The stock has a market capitalization of $285.91 million, a P/E ratio of -5.48 and a beta of 0.38. enCore Energy has a one year low of $1.26 and a one year high of $5.05. The stock’s 50-day simple moving average is $2.57 and its 200 day simple moving average is $3.33.

enCore Energy (NASDAQ:EU) last announced its quarterly earnings results on Monday, March 3rd. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The company had revenue of $13.36 million for the quarter, compared to analyst estimates of $14.30 million. On average, research analysts anticipate that enCore Energy will post -0.2 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director William M. Sheriff sold 24,000 shares of enCore Energy stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $3.55, for a total transaction of $85,200.00. Following the completion of the sale, the director now owns 2,144,055 shares in the company, valued at $7,611,395.25. The trade was a 1.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Hedge Funds Weigh In On enCore Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Savant Capital LLC acquired a new stake in enCore Energy during the 4th quarter worth $36,000. Raymond James Financial Inc. bought a new stake in shares of enCore Energy in the fourth quarter worth about $38,000. Franklin Resources Inc. acquired a new stake in shares of enCore Energy during the third quarter worth about $60,000. Shakespeare Wealth Management LLC bought a new position in shares of enCore Energy during the 4th quarter valued at about $52,000. Finally, LPL Financial LLC acquired a new position in shares of enCore Energy in the 4th quarter valued at approximately $56,000. 20.86% of the stock is owned by institutional investors.

About enCore Energy

enCore Energy Corp. engages in the acquisition, exploration, and development of uranium resource properties in the United States. It holds a 100% interest in Crownpoint and Hosta Butte uranium project area covers 3,020 acres located in the Grants Uranium Belt, New Mexico. The company also holds interest in the Marquez-Juan Tafoya property comprises 14,582 acres located in McKinley and Sandoval counties of New Mexico; and the Nose Rock project comprising 42 owned unpatented lode mining claims comprising approximately 800 acres located in McKinley County, New Mexico.