enCore Energy (NASDAQ:EU) Shares Down 3.7% – Here’s Why

enCore Energy Corp. (NASDAQ:EU) shares fell 3.7% during mid-day trading on Friday . The stock traded as low as $3.56 and last traded at $3.52. 265,384 shares were traded during mid-day trading, a decline of 82% from the average session volume of 1,467,614 shares. The stock had previously closed at $3.65.

Wall Street Analysts Forecast Growth

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

enCore Energy Price Performance

The stock has a market cap of $662.57 million, a PE ratio of -12.71 and a beta of 0.14. The stock has a 50-day simple moving average of $3.51 and a 200-day simple moving average of $3.69.

Insider Transactions at enCore Energy

In other enCore Energy news, Director William M. Sheriff sold 24,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $3.55, for a total value of $85,200.00. Following the transaction, the director now directly owns 2,144,055 shares of the company’s stock, valued at $7,611,395.25. This trade represents a 1.11 % 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

Large investors have recently modified their holdings of the stock. State Street Corp grew its position in 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 grew its holdings in enCore Energy by 89.3% during the 3rd quarter. Van ECK Associates Corp now owns 2,434,342 shares of the company’s stock valued at $9,762,000 after purchasing an additional 1,148,056 shares in the last quarter. Geode Capital Management LLC increased its stake in enCore Energy by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,203,139 shares of the company’s stock worth $8,901,000 after buying an additional 24,786 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in enCore Energy by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 437,297 shares of the company’s stock worth $1,767,000 after buying an additional 15,740 shares in the last quarter. Finally, Arlington Capital Management Inc. boosted its position in enCore Energy by 2.6% in the 3rd quarter. Arlington Capital Management Inc. now owns 222,035 shares of the company’s stock valued at $897,000 after buying an additional 5,655 shares during 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.