HC Wainwright Forecasts Strong Price Appreciation for enCore Energy (NASDAQ:EU) Stock

enCore Energy (NASDAQ:EU) had its price objective raised by HC Wainwright from $2.75 to $4.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 42.86% from the company’s previous close.

Separately, B. Riley assumed coverage on enCore Energy in a research report on Wednesday, July 23rd. They set a “buy” rating and a $4.00 price objective on the stock.

enCore Energy Trading Down 0.4%

enCore Energy stock opened at $2.80 on Tuesday. enCore Energy has a twelve month low of $1.01 and a twelve month high of $4.44. The stock’s fifty day simple moving average is $2.66 and its 200-day simple moving average is $2.17. The firm has a market capitalization of $523.88 million, a P/E ratio of -8.00 and a beta of 1.85.

enCore Energy (NASDAQ:EU) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.07) earnings per share for the quarter. enCore Energy had a negative return on equity of 19.23% and a negative net margin of 143.28%. The company had revenue of $3.66 million for the quarter. Sell-side analysts predict that enCore Energy will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On enCore Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Marshall Wace LLP grew its stake in shares of enCore Energy by 293.9% during the second quarter. Marshall Wace LLP now owns 1,262,065 shares of the company’s stock worth $3,610,000 after purchasing an additional 941,691 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in shares of enCore Energy during the second quarter worth $102,000. XTX Topco Ltd grew its stake in shares of enCore Energy by 82.2% during the second quarter. XTX Topco Ltd now owns 236,347 shares of the company’s stock worth $676,000 after purchasing an additional 106,664 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of enCore Energy by 68.9% during the second quarter. Prudential Financial Inc. now owns 20,550 shares of the company’s stock worth $59,000 after purchasing an additional 8,380 shares in the last quarter. Finally, Accordant Advisory Group Inc grew its stake in shares of enCore Energy by 4.6% during the second quarter. Accordant Advisory Group Inc now owns 287,590 shares of the company’s stock worth $823,000 after purchasing an additional 12,777 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.