enCore Energy (NASDAQ:EU) Trading Down 4.6% – Here’s Why

Shares of enCore Energy Corp. (NASDAQ:EU) fell 4.6% during trading on Friday . The stock traded as low as $3.51 and last traded at $3.53. 437,620 shares were traded during mid-day trading, a decline of 75% from the average session volume of 1,774,027 shares. The stock had previously closed at $3.70.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of enCore Energy in a report on Tuesday, November 19th.

enCore Energy Stock Performance

The company has a 50 day moving average of $3.60 and a 200-day moving average of $3.74. The stock has a market cap of $668.15 million, a price-to-earnings ratio of -12.82 and a beta of -0.04.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EU. Rathbones Group PLC acquired a new position in enCore Energy during the 2nd quarter worth $39,000. Xponance Inc. purchased a new position in shares of enCore Energy in the 2nd quarter valued at about $43,000. Sei Investments Co. purchased a new stake in shares of enCore Energy during the second quarter worth approximately $46,000. Franklin Resources Inc. purchased a new stake in shares of enCore Energy during the third quarter worth approximately $60,000. Finally, Principal Financial Group Inc. raised its holdings in enCore Energy by 19.6% in the second quarter. Principal Financial Group Inc. now owns 22,317 shares of the company’s stock valued at $88,000 after acquiring an additional 3,652 shares in the last quarter. Institutional investors and hedge funds own 20.86% of the company’s stock.

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.