Short Interest in enCore Energy Corp. (NASDAQ:EU) Increases By 15.6%

enCore Energy Corp. (NASDAQ:EU) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 7,800,000 shares, an increase of 15.6% from the October 15th total of 6,750,000 shares. Currently, 4.3% of the company’s stock are short sold. Based on an average daily volume of 1,200,000 shares, the days-to-cover ratio is presently 6.5 days.

Wall Street Analyst Weigh In

EU has been the topic of a number of research analyst reports. Ventum Cap Mkts upgraded shares of enCore Energy to a “strong-buy” rating in a report on Thursday, August 22nd. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of enCore Energy in a research note on Monday, October 7th.

enCore Energy Trading Up 0.6 %

NASDAQ:EU opened at $3.59 on Monday. The stock has a 50 day simple moving average of $3.92 and a 200 day simple moving average of $3.99. enCore Energy has a 1-year low of $3.02 and a 1-year high of $5.05. The stock has a market cap of $667.88 million, a P/E ratio of -12.82 and a beta of 0.05.

Institutional Investors Weigh In On enCore Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in EU. Principal Financial Group Inc. lifted its holdings in shares of 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 acquiring an additional 3,652 shares during the period. ProShare Advisors LLC increased its stake in shares of enCore Energy by 20.9% in the 1st 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 last quarter. Arlington Capital Management Inc. raised its holdings in shares of enCore Energy by 2.6% during the 3rd quarter. Arlington Capital Management Inc. now owns 222,035 shares of the company’s stock worth $897,000 after buying an additional 5,655 shares in the last quarter. American International Group Inc. lifted its position in shares of enCore Energy by 10.4% during the 1st quarter. American International Group Inc. now owns 80,557 shares of the company’s stock worth $353,000 after buying an additional 7,602 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake 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 valued at $205,000 after buying an additional 8,954 shares in the last quarter. 20.86% of the stock is currently owned by institutional investors and hedge funds.

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.