enCore Energy (NASDAQ:EU) Shares Down 3.7% - Here's Why

enCore Energy Corp. (NASDAQ:EU) saw its shares decrease by 3.7% during trading on Friday. The stock reached a low of $3.56 and closed at $3.52, with a total of approximately 265,384 shares traded. This volume represents a significant decline of 82% from the average daily trading volume of 1,467,614 shares. The previous closing price was $3.65.

Analysts Set New Price Targets

In related news, HC Wainwright maintained a "buy" rating for enCore Energy and has set a target price of $7.00 per share in a research note released on November 19th.

enCore Energy Stock Performance

The company currently has a market capitalization of $659.80 million and a price-to-earnings ratio of -12.66, with a beta of 0.14. The stock’s fifty-day simple moving average stands at $3.52, while the two-hundred-day simple moving average is $3.69.

Insider Trading Activity

Recently, Director William M. Sheriff sold 24,000 shares of enCore Energy on January 2nd for an average price of $3.55, bringing the total values of the transaction to $85,200. Following this sale, Sheriff still owns 2,144,055 shares, which are worth approximately $7,611,395.25, reflecting a 1.11% decrease in his holdings. This transaction was reported to the Securities and Exchange Commission.

Institutional Investor Trends

Several institutional investors have made adjustments to their enCore Energy positions in recent months. Xponance Inc. acquired a new stake valued at about $43,000, and Sei Investments Co. also purchased shares worth approximately $46,000 during the second quarter. During the third quarter, Franklin Resources Inc. bought a stake valued around $60,000, followed by Verition Fund Management LLC with a new investment of about $96,000, and Intech Investment Management LLC with an investment of approximately $110,000. Overall, institutional investors hold about 20.86% of the company's stock.

Company Overview

enCore Energy Corp. is engaged in acquiring, exploring, and developing uranium resource properties in the United States. The firm holds a 100% interest in the Crownpoint and Hosta Butte uranium projects, which cover 3,020 acres in the Grants Uranium Belt, located in New Mexico. Additionally, enCore has interests in the Marquez-Juan Tafoya property comprising 14,582 acres in McKinley and Sandoval counties, as well as the Nose Rock project, which includes 42 unpatented lode mining claims spanning approximately 800 acres in McKinley County.

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