enCore Energy (NASDAQ:EU) Sees Unusually-High Trading Volume – Should You Buy?

Shares of enCore Energy Corp. (NASDAQ:EU) saw strong trading volume on Thursday . 1,042,366 shares changed hands during trading, a decline of 15% from the previous session’s volume of 1,229,049 shares.The stock last traded at $3.54 and had previously closed at $3.41.

Analysts Set New Price Targets

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

enCore Energy Stock Down 3.0 %

The firm has a market capitalization of $668.15 million, a price-to-earnings ratio of -12.82 and a beta of -0.04. The firm has a 50 day moving average of $3.60 and a two-hundred day moving average of $3.74.

Institutional Trading of enCore Energy

A number of hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of enCore Energy by 6.7% during the third quarter. JPMorgan Chase & Co. now owns 81,173 shares of the company’s stock worth $328,000 after purchasing an additional 5,067 shares during the period. Franklin Resources Inc. bought a new position in enCore Energy during the 3rd quarter worth $60,000. Tidal Investments LLC lifted its holdings in enCore Energy by 48.7% during the 3rd quarter. Tidal Investments LLC now owns 38,697 shares of the company’s stock worth $156,000 after buying an additional 12,672 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of enCore Energy in the 3rd quarter valued at about $128,000. Finally, Geode Capital Management LLC increased its stake in shares of enCore Energy by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,203,139 shares of the company’s stock valued at $8,901,000 after buying an additional 24,786 shares during the period. 20.86% of the stock is owned by institutional investors and hedge funds.

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.