enCore Energy (NASDAQ:EU) Shares Gap Up – What’s Next?

enCore Energy Corp. (NASDAQ:EU)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $3.71, but opened at $3.90. enCore Energy shares last traded at $3.78, with a volume of 125,757 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EU. Ventum Cap Mkts raised shares of enCore Energy to a “strong-buy” rating in a research note on Thursday, August 22nd. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of enCore Energy in a report on Tuesday, November 19th.

enCore Energy Price Performance

The company has a market cap of $688.53 million, a P/E ratio of -13.50 and a beta of 0.05. The company’s 50-day moving average is $3.96 and its two-hundred day moving average is $3.92.

Institutional Investors Weigh In On enCore Energy

A number of large investors have recently added to or reduced their stakes in EU. Rathbones Group PLC bought a new stake in enCore Energy during the second quarter valued at approximately $39,000. Xponance Inc. purchased a new position in shares of enCore Energy during the 2nd quarter worth $43,000. Sei Investments Co. bought a new stake in shares of enCore Energy during the 2nd quarter valued at $46,000. Franklin Resources Inc. purchased a new stake in shares of enCore Energy in the 3rd quarter worth $60,000. Finally, Virtu Financial LLC bought a new position in enCore Energy in the 1st quarter worth $84,000. Institutional investors own 20.86% of the company’s stock.

enCore Energy Company Profile

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.