enCore Energy Sees Unusually High Options Volume (NASDAQ:EU)

enCore Energy Corp. (NASDAQ:EU) was the target of unusually large options trading activity on Thursday. Traders bought 11,105 call options on the stock. This is an increase of approximately 536% compared to the typical daily volume of 1,746 call options.

enCore Energy Price Performance

Shares of enCore Energy stock opened at $3.99 on Friday. The business has a 50-day moving average price of $4.47. The stock has a market capitalization of $735.76 million, a PE ratio of -30.69 and a beta of 0.14. enCore Energy has a 52-week low of $2.16 and a 52-week high of $5.05.

enCore Energy (NASDAQ:EU) last announced its quarterly earnings data on Friday, May 10th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The company had revenue of $30.40 million for the quarter, compared to the consensus estimate of $3.30 million. On average, research analysts forecast that enCore Energy will post -0.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on EU. HC Wainwright reaffirmed a “buy” rating and set a $7.50 target price on shares of enCore Energy in a research note on Friday, June 14th. B. Riley reiterated a “buy” rating and set a $6.00 price objective on shares of enCore Energy in a research note on Wednesday, May 15th.

Institutional Investors Weigh In On enCore Energy

Several institutional investors have recently modified their holdings of the business. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in enCore Energy in the 1st quarter worth about $83,000. Virtu Financial LLC bought a new stake in shares of enCore Energy in the first quarter worth approximately $84,000. Tidal Investments LLC purchased a new position in shares of enCore Energy during the first quarter valued at approximately $120,000. ProShare Advisors LLC lifted its position in enCore Energy by 20.9% during the first quarter. ProShare Advisors LLC now owns 29,368 shares of the company’s stock valued at $129,000 after purchasing an additional 5,074 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in enCore Energy by 23.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 46,585 shares of the company’s stock worth $205,000 after purchasing an additional 8,954 shares during the last quarter. 20.86% of the stock is owned by hedge funds and other institutional investors.

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.