HC Wainwright Has Lowered Expectations for enCore Energy (NASDAQ:EU) Stock Price

enCore Energy (NASDAQ:EU) had its price objective cut by HC Wainwright from $7.00 to $2.75 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 67.68% from the company’s previous close.

enCore Energy Price Performance

NASDAQ EU opened at $1.64 on Tuesday. The business has a 50 day simple moving average of $2.68 and a 200 day simple moving average of $3.36. enCore Energy has a one year low of $1.26 and a one year high of $5.05. The stock has a market capitalization of $305.47 million, a P/E ratio of -5.86 and a beta of 0.38.

enCore Energy (NASDAQ:EU) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The business had revenue of $13.36 million during the quarter, compared to analysts’ expectations of $14.30 million. Equities analysts expect that enCore Energy will post -0.2 earnings per share for the current year.

Insider Buying and Selling

In other enCore Energy news, Chairman William M. Sheriff sold 24,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $3.20, for a total value of $76,800.00. Following the completion of the sale, the chairman now directly owns 2,120,055 shares of the company’s stock, valued at $6,784,176. This trade represents a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Institutional Trading of enCore Energy

Large investors have recently bought and sold shares of the company. Verition Fund Management LLC purchased a new stake in enCore Energy in the third quarter worth $96,000. Azarias Capital Management L.P. increased its position in enCore Energy by 6.8% in the fourth quarter. Azarias Capital Management L.P. now owns 5,346,013 shares of the company’s stock worth $18,230,000 after buying an additional 342,657 shares during the last quarter. Franklin Resources Inc. purchased a new stake in enCore Energy in the third quarter worth $60,000. Geode Capital Management LLC increased its position in enCore Energy by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,203,139 shares of the company’s stock worth $8,901,000 after buying an additional 24,786 shares during the last quarter. Finally, Savant Capital LLC purchased a new stake in enCore Energy in the fourth quarter worth $36,000. 20.86% of the stock is owned by hedge funds and other 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.