enCore Energy (NASDAQ:EU) Sees Unusually-High Trading Volume – Time to Buy?

Shares of enCore Energy Corp. (NASDAQ:EU) saw strong trading volume on Thursday . 1,042,366 shares changed hands during trading, a decline of 15% from the previous session’s volume of 1,229,049 shares.The stock last traded at $3.54 and had previously closed at $3.41.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of enCore Energy in a research report on Tuesday, November 19th.

enCore Energy Trading Up 7.0 %

The firm’s fifty day moving average price is $3.62 and its 200-day moving average price is $3.75. The company has a market cap of $679.32 million, a P/E ratio of -13.04 and a beta of -0.04.

Institutional Investors Weigh In On enCore Energy

Hedge funds have recently made changes to their positions in the company. Rathbones Group PLC acquired a new stake in enCore Energy in the second quarter worth about $39,000. Xponance Inc. acquired a new position in shares of enCore Energy in the 2nd quarter valued at $43,000. Sei Investments Co. acquired a new stake in shares of enCore Energy during the second quarter worth $46,000. Franklin Resources Inc. acquired a new position in enCore Energy during the third quarter valued at approximately $60,000. Finally, Principal Financial Group Inc. grew its position in shares of enCore Energy by 19.6% in the 2nd 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 period. Institutional investors and hedge funds 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.