HC Wainwright Issues Pessimistic Forecast for enCore Energy (NASDAQ:EU) Stock Price

enCore Energy (NASDAQ:EU) had its price objective cut by stock analysts at HC Wainwright to $1.50 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright‘s price objective points to a potential upside of 178.29% from the stock’s current price.

EU has been the subject of several other research reports. Jefferies Financial Group started coverage on enCore Energy in a report on Thursday, September 3rd. They set a “buy” rating and a $1.44 price target for the company. B. Riley Financial reaffirmed a “buy” rating on shares of enCore Energy in a report on Wednesday, October 28th. Wall Street Zen downgraded enCore Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, September 26th. Weiss Ratings lowered shares of enCore Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, September 14th. Finally, Zacks Research raised shares of enCore Energy from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $2.23.

enCore Energy Trading Down 7.4%

Shares of enCore Energy stock opened at $0.54 on Friday. The firm has a market cap of $105.47 million, a price-to-earnings ratio of -1.63 and a beta of 2.29. The business has a 50-day moving average price of $0.93 and a 200-day moving average price of $1.55. The company has a quick ratio of 6.84, a current ratio of 8.00 and a debt-to-equity ratio of 0.45. enCore Energy has a twelve month low of $0.53 and a twelve month high of $3.67.

enCore Energy (NASDAQ:EU) last posted its earnings results on Thursday, November 12th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.05). enCore Energy had a negative return on equity of 28.00% and a negative net margin of 112.82%. The firm had revenue of $16.69 million during the quarter. Equities research analysts anticipate that enCore Energy will post -0.41 EPS for the current fiscal year.

Insider Activity

In related news, Director Susan Hoxie-Key sold 30,648 shares of enCore Energy stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $0.94, for a total value of $28,809.12. Following the completion of the transaction, the director owned 60,918 shares in the company, valued at approximately $57,262.92. This trade represents a 33.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman William M. Sheriff acquired 100,000 shares of enCore Energy stock in a transaction on Friday, September 18th. The shares were bought at an average cost of $0.81 per share, for a total transaction of $81,000.00. Following the completion of the purchase, the chairman directly owned 1,662,169 shares of the company’s stock, valued at $1,346,356.89. The trade was a 6.40% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 310,000 shares of company stock worth $262,100 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On enCore Energy

Several institutional investors have recently modified their holdings of the stock. Tidal Investments LLC purchased a new stake in enCore Energy during the 2nd quarter valued at $2,755,000. Bank of New York Mellon Corp bought a new stake in enCore Energy in the second quarter worth $725,000. Themes Management Co LLC boosted its stake in enCore Energy by 187.2% during the first quarter. Themes Management Co LLC now owns 246,624 shares of the company’s stock worth $447,000 after buying an additional 160,765 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in enCore Energy by 90.3% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 236,373 shares of the company’s stock worth $310,000 after buying an additional 112,130 shares during the period. Finally, J. Derek Lewis & Associates Inc. boosted its stake in enCore Energy by 82.8% during the first quarter. J. Derek Lewis & Associates Inc. now owns 53,000 shares of the company’s stock worth $95,000 after buying an additional 24,000 shares during the period. 20.86% of the stock is owned by institutional investors.

About enCore Energy

enCore Energy Corp. is a U.S. uranium company focused on producing uranium for the nuclear fuel industry. The company uses in-situ recovery (ISR), a method that circulates a solution through underground uranium deposits to recover the uranium without conventional open-pit or underground mining. Its portfolio includes the Rosita and Alta Mesa projects in South Texas, as well as uranium assets in other parts of the United States. The company has developed processing facilities and wellfields to support ISR production, and its product is uranium concentrate used in the nuclear fuel cycle. enCore’s focus on domestic uranium resources reflects its aim to supply U.S. utilities and other customers.