enCore Energy Corp. (NASDAQ:EU) Sees Large Growth in Short Interest

enCore Energy Corp. (NASDAQ:EU) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 8,330,000 shares, an increase of 6.0% from the November 30th total of 7,860,000 shares. Currently, 4.7% of the shares of the stock are sold short. Based on an average trading volume of 1,250,000 shares, the short-interest ratio is currently 6.7 days.

Institutional Trading of enCore Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in EU. Principal Financial Group Inc. raised its holdings in 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 buying an additional 3,652 shares during the period. JPMorgan Chase & Co. raised its stake in shares of enCore Energy by 6.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 81,173 shares of the company’s stock valued at $328,000 after acquiring an additional 5,067 shares during the period. Arlington Capital Management Inc. lifted its holdings in shares of enCore Energy by 2.6% in the 3rd quarter. Arlington Capital Management Inc. now owns 222,035 shares of the company’s stock worth $897,000 after acquiring an additional 5,655 shares during the last quarter. Rathbones Group PLC purchased a new position in shares of enCore Energy during the 2nd quarter worth approximately $39,000. Finally, Xponance Inc. acquired a new stake in enCore Energy in the 2nd quarter valued at approximately $43,000. Institutional investors and hedge funds own 20.86% of the company’s stock.

enCore Energy Trading Up 0.9 %

enCore Energy stock opened at $3.41 on Wednesday. The company has a 50-day moving average price of $3.63 and a 200 day moving average price of $3.75. enCore Energy has a 12-month low of $3.02 and a 12-month high of $5.05. The stock has a market cap of $634.65 million, a P/E ratio of -12.18 and a beta of -0.04.

Analysts Set New Price Targets

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

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.