enCore Energy (NASDAQ:EU) Shares Gap Up – Here’s Why

enCore Energy Corp. (NASDAQ:EU) gapped up prior to trading on Thursday . The stock had previously closed at $3.25, but opened at $3.40. enCore Energy shares last traded at $3.31, with a volume of 147,510 shares trading hands.

Wall Street Analyst Weigh In

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

enCore Energy Stock Performance

The company has a market capitalization of $608.60 million, a price-to-earnings ratio of -11.68 and a beta of -0.04. The company has a 50 day moving average price of $3.76 and a 200 day moving average price of $3.81.

Institutional Investors Weigh In On enCore Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Azarias Capital Management L.P. raised its holdings in shares of enCore Energy by 28.1% in the second quarter. Azarias Capital Management L.P. now owns 4,814,976 shares of the company’s stock valued at $20,590,000 after purchasing an additional 1,056,483 shares during the last quarter. State Street Corp grew its holdings in shares of enCore Energy by 3.5% in the third quarter. State Street Corp now owns 3,085,686 shares of the company’s stock valued at $12,466,000 after acquiring an additional 105,685 shares in the last quarter. Van ECK Associates Corp increased its position in shares of enCore Energy by 89.3% during the third quarter. Van ECK Associates Corp now owns 2,434,342 shares of the company’s stock valued at $9,762,000 after acquiring an additional 1,148,056 shares during the last quarter. Geode Capital Management LLC lifted its holdings in enCore Energy by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,203,139 shares of the company’s stock worth $8,901,000 after acquiring an additional 24,786 shares during the period. Finally, Goehring & Rozencwajg Associates LLC grew its stake in enCore Energy by 10.7% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,082,548 shares of the company’s stock valued at $4,265,000 after purchasing an additional 104,900 shares during the period. 20.86% of the stock is owned by 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.