Stock Traders Buy High Volume of Call Options on enCore Energy (NASDAQ:EU)

enCore Energy Corp. (NASDAQ:EU) saw some unusual options trading activity on Wednesday. Stock traders purchased 3,102 call options on the company. This is an increase of approximately 63% compared to the average volume of 1,902 call options.

enCore Energy Price Performance

enCore Energy stock opened at $3.12 on Thursday. enCore Energy has a 1-year low of $1.01 and a 1-year high of $4.44. The firm has a market capitalization of $583.75 million, a P/E ratio of -8.91 and a beta of 1.84. The company’s 50-day moving average is $2.63 and its 200 day moving average is $2.13.

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. The firm had revenue of $3.66 million during the quarter. enCore Energy had a negative return on equity of 19.23% and a negative net margin of 143.28%. Research analysts anticipate that enCore Energy will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EU. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of enCore Energy by 64.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,000 shares of the company’s stock worth $27,000 after purchasing an additional 7,461 shares during the last quarter. Compound Planning Inc. bought a new position in shares of enCore Energy in the first quarter worth about $27,000. Ballentine Partners LLC bought a new position in shares of enCore Energy in the second quarter worth about $29,000. Osaic Holdings Inc. bought a new position in shares of enCore Energy in the second quarter worth about $29,000. Finally, Virtu Financial LLC bought a new position in shares of enCore Energy in the first quarter worth about $35,000. 20.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on EU shares. Wall Street Zen raised shares of enCore Energy from a “sell” rating to a “hold” rating in a research note on Monday. Zacks Research raised shares of enCore Energy to a “hold” rating in a research note on Tuesday, August 12th. HC Wainwright boosted their price objective on shares of enCore Energy from $2.75 to $4.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Finally, B. Riley started coverage on shares of enCore Energy in a research report on Wednesday, July 23rd. They set a “buy” rating and a $4.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $4.00.

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.