enCore Energy (NASDAQ:EU) Stock Rating Lowered by Zacks Research

enCore Energy (NASDAQ:EU) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other research analysts have also recently weighed in on the stock. Weiss Ratings upgraded shares of enCore Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. Northland Securities set a $3.75 target price on shares of enCore Energy in a report on Monday, May 18th. Wall Street Zen raised shares of enCore Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, HC Wainwright dropped their price target on shares of enCore Energy from $4.00 to $3.75 and set a “buy” rating for the company in a research note on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $3.83.

enCore Energy Stock Performance

Shares of enCore Energy stock opened at $1.22 on Tuesday. The stock has a market capitalization of $236.99 million, a price-to-earnings ratio of -8.13 and a beta of 2.06. The company has a debt-to-equity ratio of 0.39, a current ratio of 11.08 and a quick ratio of 10.25. The business has a 50-day moving average of $1.46 and a 200 day moving average of $2.07. enCore Energy has a 12 month low of $1.18 and a 12 month high of $4.18.

Insider Activity

In other news, Director Wayne W. Heili acquired 35,000 shares of enCore Energy stock in a transaction dated Friday, June 12th. The shares were acquired at an average cost of $1.44 per share, for a total transaction of $50,400.00. Following the acquisition, the director owned 35,000 shares of the company’s stock, valued at $50,400. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman William M. Sheriff acquired 25,000 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were purchased at an average cost of $1.47 per share, with a total value of $36,750.00. Following the completion of the transaction, the chairman owned 25,000 shares in the company, valued at approximately $36,750. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders purchased 259,905 shares of company stock valued at $362,534. 3.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC lifted its stake in enCore Energy by 13.2% during the first quarter. NewEdge Advisors LLC now owns 294,405 shares of the company’s stock worth $403,000 after purchasing an additional 34,250 shares during the last quarter. Creative Planning raised its holdings in enCore Energy by 66.1% during the second quarter. Creative Planning now owns 24,162 shares of the company’s stock worth $69,000 after purchasing an additional 9,612 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of enCore Energy by 68.9% during the 2nd quarter. Prudential Financial Inc. now owns 20,550 shares of the company’s stock worth $59,000 after buying an additional 8,380 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of enCore Energy by 293.9% in the 2nd quarter. Marshall Wace LLP now owns 1,262,065 shares of the company’s stock valued at $3,610,000 after buying an additional 941,691 shares in the last quarter. Finally, Main Street Financial Solutions LLC acquired a new position in shares of enCore Energy in the 2nd quarter valued at $87,000. Hedge funds and other institutional investors own 20.86% of the company’s stock.

About enCore Energy

enCore Energy Inc is a U.S.-based uranium exploration and development company focused on deploying in-situ recovery (ISR) technology to bring domestic uranium projects into production. The company’s operations are centered on the Nichols Ranch ISR facility in Wyoming, which represents enCore’s flagship asset and its nearest-term production opportunity. Through ISR methods, enCore seeks to extract uranium with lower environmental impact and capital requirements relative to conventional mining.

In addition to Nichols Ranch, enCore holds a diversified portfolio of uranium properties in the western United States, including the Roca Honda project in New Mexico and several ISR-amenable projects in the Texas and Oklahoma regions.