enCore Energy (CVE:EU) Stock Price Down 8.5% – Time to Sell?

enCore Energy Corp. (CVE:EU) dropped 8.5% during mid-day trading on Friday . The company traded as low as C$2.22 and last traded at C$2.27. Approximately 107,825 shares changed hands during trading, a decline of 69% from the average daily volume of 346,987 shares. The stock had previously closed at C$2.48.

Wall Street Analyst Weigh In

Separately, Ventum Cap Mkts raised shares of enCore Energy to a “strong-buy” rating in a research report on Monday, March 10th.

enCore Energy Price Performance

The stock has a fifty day moving average price of C$3.79 and a two-hundred day moving average price of C$4.69. The company has a market cap of C$303.32 million, a P/E ratio of -5.39 and a beta of 1.20.

Insider Buying and Selling at enCore Energy

In other news, Director William Morris Sheriff bought 35,000 shares of enCore Energy stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average price of C$2.37 per share, for a total transaction of C$83,079.36. Company insiders own 2.12% 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 the Crownpoint and Hosta Butte uranium project that covers 3,020 acres located in the Grants Uranium Belt, New Mexico. The company also has interests in the Marquez-Juan Tafoya property, which consists of 14,582 acres located in McKinley and Sandoval counties of New Mexico; and the Nose Rock project that covers 42 owned unpatented lode mining claims comprising approximately 800 acres located in McKinley County, New Mexico.