Short Interest in enCore Energy Corp. (NASDAQ:EU) Declines By 6.0%

enCore Energy Corp. (NASDAQ:EU) was the recipient of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 7,860,000 shares, a drop of 6.0% from the November 15th total of 8,360,000 shares. Approximately 4.4% of the company’s shares are sold short. Based on an average trading volume of 1,210,000 shares, the short-interest ratio is currently 6.5 days.

enCore Energy Stock Performance

Shares of enCore Energy stock traded up $0.08 on Tuesday, hitting $3.29. The company had a trading volume of 3,027,907 shares, compared to its average volume of 1,206,513. The stock has a market capitalization of $612.27 million, a price-to-earnings ratio of -11.46 and a beta of -0.04. enCore Energy has a 1 year low of $3.02 and a 1 year high of $5.05. The stock has a 50 day moving average of $3.80 and a 200-day moving average of $3.82.

Hedge Funds Weigh In On enCore Energy

Hedge funds have recently modified their holdings of the company. Rathbones Group PLC purchased a new position in shares of enCore Energy in the 2nd quarter worth about $39,000. Xponance Inc. bought a new stake in enCore Energy in the second quarter worth about $43,000. Sei Investments Co. purchased a new position in enCore Energy in the second quarter valued at about $46,000. Franklin Resources Inc. bought a new position in shares of enCore Energy during the 3rd quarter valued at approximately $60,000. Finally, Principal Financial Group Inc. increased its stake in shares of enCore Energy by 19.6% during the 2nd quarter. Principal Financial Group Inc. now owns 22,317 shares of the company’s stock worth $88,000 after purchasing an additional 3,652 shares during the last quarter. Institutional investors own 20.86% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Ventum Cap Mkts raised shares of enCore Energy to a “strong-buy” rating in a research report on Thursday, August 22nd. HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of enCore Energy in a research note on Tuesday, November 19th.

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.