enCore Energy (NASDAQ:EU) Trading Up 6.8% – Here’s What Happened

enCore Energy Corp. (NASDAQ:EU) shares were up 6.8% during trading on Wednesday . The company traded as high as $3.44 and last traded at $3.44. Approximately 576,737 shares were traded during trading, a decline of 52% from the average daily volume of 1,213,831 shares. The stock had previously closed at $3.22.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EU. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of enCore Energy in a research note on Tuesday, November 19th. Ventum Cap Mkts upgraded enCore Energy to a “strong-buy” rating in a research report on Thursday, August 22nd.

enCore Energy Stock Up 4.0 %

The stock has a market capitalization of $629.02 million, a price-to-earnings ratio of -12.07 and a beta of -0.04. The stock’s 50-day simple moving average is $3.77 and its 200 day simple moving average is $3.81.

Hedge Funds Weigh In On enCore Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Rathbones Group PLC bought a new position in enCore Energy in the 2nd quarter valued at $39,000. Xponance Inc. acquired a new position in shares of enCore Energy during the second quarter valued at $43,000. Sei Investments Co. bought a new position in enCore Energy in the second quarter valued at about $46,000. Franklin Resources Inc. acquired a new stake in enCore Energy in the third quarter worth about $60,000. Finally, Principal Financial Group Inc. raised its holdings in 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 and hedge funds own 20.86% of the company’s stock.

enCore Energy Company Profile

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.