Short Interest in enCore Energy Corp. (NASDAQ:EU) Expands By 15.6%

enCore Energy Corp. (NASDAQ:EU) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 7,800,000 shares, an increase of 15.6% from the October 15th total of 6,750,000 shares. Based on an average daily trading volume, of 1,200,000 shares, the days-to-cover ratio is presently 6.5 days. Approximately 4.3% of the company’s stock are short sold.

Hedge Funds Weigh In On enCore Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rathbones Group PLC purchased a new position in enCore Energy during the 2nd quarter worth approximately $39,000. Xponance Inc. purchased a new position in shares of enCore Energy during the second quarter worth $43,000. Sei Investments Co. acquired a new position in enCore Energy during the second quarter valued at $46,000. Virtu Financial LLC acquired a new position in enCore Energy during the first quarter valued at $84,000. Finally, Principal Financial Group Inc. boosted its holdings in enCore Energy by 19.6% in the second quarter. Principal Financial Group Inc. now owns 22,317 shares of the company’s stock valued at $88,000 after purchasing an additional 3,652 shares during the last quarter. Hedge funds and other institutional investors own 20.86% of the company’s stock.

enCore Energy Stock Up 0.6 %

Shares of enCore Energy stock traded up $0.02 during midday trading on Friday, hitting $3.59. The company had a trading volume of 1,677,815 shares, compared to its average volume of 1,219,138. The company has a fifty day simple moving average of $3.92 and a 200 day simple moving average of $3.99. The stock has a market cap of $667.88 million, a price-to-earnings ratio of -29.91 and a beta of 0.05. enCore Energy has a 12-month low of $3.02 and a 12-month high of $5.05.

enCore Energy (NASDAQ:EU) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.06). The firm had revenue of $5.32 million for the quarter, compared to analyst estimates of $13.10 million. As a group, analysts expect that enCore Energy will post -0.11 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EU. HC Wainwright reiterated 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 raised shares of enCore Energy to a “strong-buy” rating in a report on Thursday, August 22nd.

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.