enCore Energy (NASDAQ:EU) Stock Rating Cut to Moderate Buy at Canaccord Genuity Group

enCore Energy (NASDAQ:EU) was downgraded by investment analysts at Canaccord Genuity Group from a “buy” rating to a “moderate buy” rating in a research report issued on Friday, Marketbeat.com reports. They currently have a C$1.50 price target on the stock.

Other equities research analysts have also issued reports about the stock. Weiss Ratings lowered shares of enCore Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, September 14th. HC Wainwright dropped their price target on shares of enCore Energy to $1.50 and set a “buy” rating for the company in a research note on Friday. Zacks Research upgraded shares of enCore Energy from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Wall Street Zen cut shares of enCore Energy from a “hold” rating to a “strong sell” rating in a research note on Saturday, September 26th. Finally, B. Riley Financial reissued a “buy” rating on shares of enCore Energy in a research note on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, enCore Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $2.23.

enCore Energy Price Performance

EU stock traded up $0.01 during midday trading on Friday, reaching $0.55. The company had a trading volume of 3,258,113 shares, compared to its average volume of 3,021,450. enCore Energy has a 1-year low of $0.53 and a 1-year high of $3.67. The stock has a 50 day moving average price of $0.91 and a 200-day moving average price of $1.53. The company has a debt-to-equity ratio of 0.45, a current ratio of 8.00 and a quick ratio of 6.84. The company has a market capitalization of $107.70 million, a price-to-earnings ratio of -1.17 and a beta of 2.29.

enCore Energy (NASDAQ:EU) last released its earnings results on Thursday, November 12th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.05). enCore Energy had a negative net margin of 145.02% and a negative return on equity of 32.11%. The firm had revenue of $16.69 million during the quarter. Equities research analysts expect that enCore Energy will post -0.41 earnings per share for the current year.

Insider Activity at enCore Energy

In other enCore Energy news, Director Susan Hoxie-Key sold 30,648 shares of the business’s stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $0.94, for a total value of $28,809.12. Following the transaction, the director directly owned 60,918 shares of the company’s stock, valued at approximately $57,262.92. The trade was a 33.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman William Sheriff purchased 100,000 shares of the business’s stock in a transaction on Friday, September 18th. The shares were acquired at an average price of $0.81 per share, for a total transaction of $81,000.00. Following the completion of the acquisition, the chairman directly owned 1,662,169 shares in the company, valued at approximately $1,346,356.89. This represents a 6.40% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 310,000 shares of company stock valued at $262,100 in the last ninety days. 3.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC bought a new position in shares of enCore Energy in the 2nd quarter worth $2,755,000. Bank of New York Mellon Corp acquired a new stake in enCore Energy in the 2nd quarter valued at $725,000. LuminArx Capital Management LP acquired a new stake in enCore Energy in the 3rd quarter valued at $2,160,000. J. Derek Lewis & Associates Inc. acquired a new stake in enCore Energy in the 3rd quarter valued at $34,000. Finally, Hennion & Walsh Asset Management Inc. increased its stake in enCore Energy by 90.3% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 236,373 shares of the company’s stock valued at $310,000 after purchasing an additional 112,130 shares in the last quarter. 20.86% of the stock is owned by institutional investors.

enCore Energy Company Profile

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.