enCore Energy (NASDAQ:EU) Shares Down 5.8% – Should You Sell?

enCore Energy Corp. (NASDAQ:EU)’s share price traded down 5.8% on Wednesday . The stock traded as low as $2.66 and last traded at $2.6650. 368,647 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 3,033,851 shares. The stock had previously closed at $2.83.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. HC Wainwright boosted their target price on enCore Energy from $2.75 to $4.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Zacks Research upgraded enCore Energy to a “hold” rating in a report on Tuesday, August 12th. Weiss Ratings restated a “sell (d-)” rating on shares of enCore Energy in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded enCore Energy from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $4.00.

enCore Energy Price Performance

The company has a quick ratio of 12.48, a current ratio of 13.64 and a debt-to-equity ratio of 0.39. The business’s 50-day simple moving average is $2.96 and its 200-day simple moving average is $2.71. The stock has a market cap of $512.13 million, a PE ratio of -9.77 and a beta of 2.02.

enCore Energy (NASDAQ:EU) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.07) earnings per share (EPS) for the quarter. The business had revenue of $8.88 million for the quarter. enCore Energy had a negative net margin of 118.78% and a negative return on equity of 19.83%. On average, research analysts expect that enCore Energy Corp. will post -0.2 EPS for the current fiscal year.

Insider Activity at enCore Energy

In other enCore Energy news, Director William B. Harris sold 80,000 shares of the business’s stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $3.41, for a total transaction of $272,800.00. Following the transaction, the director directly owned 280,001 shares of the company’s stock, valued at approximately $954,803.41. The trade was a 22.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman William M. Sheriff sold 24,000 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $2.65, for a total transaction of $63,600.00. Following the completion of the transaction, the chairman owned 2,286,055 shares of the company’s stock, valued at $6,058,045.75. This trade represents a 1.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 144,000 shares of company stock worth $473,800 over the last quarter. Corporate insiders own 3.90% of the company’s stock.

Institutional Trading of enCore Energy

Large investors have recently bought and sold shares of the company. Van ECK Associates Corp grew its holdings in shares of enCore Energy by 76.7% during the 3rd quarter. Van ECK Associates Corp now owns 15,972,156 shares of the company’s stock worth $51,271,000 after acquiring an additional 6,933,454 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in enCore Energy by 5.7% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,798,779 shares of the company’s stock worth $34,846,000 after purchasing an additional 582,974 shares during the period. MMCAP International Inc. SPC raised its holdings in enCore Energy by 13.0% in the third quarter. MMCAP International Inc. SPC now owns 4,316,838 shares of the company’s stock worth $13,857,000 after purchasing an additional 497,337 shares in the last quarter. Azarias Capital Management L.P. lifted its position in enCore Energy by 9.6% during the third quarter. Azarias Capital Management L.P. now owns 4,032,939 shares of the company’s stock valued at $12,946,000 after buying an additional 352,775 shares during the period. Finally, Vident Advisory LLC boosted its holdings in shares of enCore Energy by 3.8% during the 3rd quarter. Vident Advisory LLC now owns 3,293,914 shares of the company’s stock valued at $10,629,000 after buying an additional 121,152 shares in the last quarter. 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.