Short Interest in enCore Energy Corp. (NASDAQ:EU) Decreases By 7.1%

enCore Energy Corp. (NASDAQ:EU) saw a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 4,570,000 shares, a decrease of 7.1% from the September 15th total of 4,920,000 shares. Approximately 2.5% of the shares of the stock are sold short. Based on an average daily volume of 1,140,000 shares, the short-interest ratio is presently 4.0 days.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on EU shares. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of enCore Energy in a research note on Monday, October 7th. Ventum Cap Mkts upgraded enCore Energy to a “strong-buy” rating in a research report on Thursday, August 22nd.

enCore Energy Stock Up 1.0 %

Shares of NASDAQ:EU traded up $0.04 during trading on Thursday, hitting $4.25. 1,231,612 shares of the company traded hands, compared to its average volume of 1,221,476. The stock has a market capitalization of $783.72 million, a price-to-earnings ratio of -32.38 and a beta of -0.02. enCore Energy has a one year low of $2.98 and a one year high of $5.05. The business’s fifty day moving average is $3.69 and its 200-day moving average is $4.07.

enCore Energy (NASDAQ:EU) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). The company had revenue of $5.32 million for the quarter, compared to analyst estimates of $13.10 million. On average, analysts forecast that enCore Energy will post -0.11 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Azarias Capital Management L.P. increased its position in shares of enCore Energy by 232.0% in the first quarter. Azarias Capital Management L.P. now owns 3,758,493 shares of the company’s stock worth $18,013,000 after acquiring an additional 2,626,395 shares in the last quarter. MMCAP International Inc. SPC purchased a new stake in shares of enCore Energy in the first quarter worth approximately $11,055,000. Van ECK Associates Corp acquired a new stake in shares of enCore Energy during the first quarter worth approximately $3,399,000. Vident Advisory LLC increased its stake in enCore Energy by 21.3% in the 1st quarter. Vident Advisory LLC now owns 1,575,173 shares of the company’s stock valued at $6,693,000 after buying an additional 276,211 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of enCore Energy by 37.0% during the 1st quarter. Vanguard Group Inc. now owns 922,691 shares of the company’s stock valued at $4,041,000 after buying an additional 249,307 shares during the period. Institutional investors 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.