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

enCore Energy (NASDAQ:EU) had its price target reduced by HC Wainwright from $7.00 to $2.75 in a research report report published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

enCore Energy Price Performance

EU opened at $1.55 on Tuesday. The business’s 50-day moving average is $2.71 and its two-hundred day moving average is $3.37. enCore Energy has a 1 year low of $1.26 and a 1 year high of $5.05. The firm has a market capitalization of $288.70 million, a PE ratio of -5.54 and a beta of 0.38.

enCore Energy (NASDAQ:EU) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The business had revenue of $13.36 million during the quarter, compared to analyst estimates of $14.30 million. As a group, sell-side analysts expect that enCore Energy will post -0.2 EPS for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On enCore Energy

Institutional investors and hedge funds have recently modified their holdings of the company. Savant Capital LLC acquired a new stake in shares of enCore Energy during the fourth quarter worth about $36,000. Raymond James Financial Inc. acquired a new stake in shares of enCore Energy during the fourth quarter worth about $38,000. Franklin Resources Inc. acquired a new stake in shares of enCore Energy during the third quarter worth about $60,000. Shakespeare Wealth Management LLC acquired a new stake in shares of enCore Energy during the fourth quarter worth about $52,000. Finally, LPL Financial LLC acquired a new position in enCore Energy in the fourth quarter valued at approximately $56,000. Institutional investors and hedge funds own 20.86% of the company’s stock.

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.