Shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT – Get Free Report) shot up 2.6% on Wednesday . The stock traded as high as $16.76 and last traded at $16.74. 6,155 shares changed hands during trading, a decline of 81% from the average session volume of 32,044 shares. The stock had previously closed at $16.32.
Analysts Set New Price Targets
Separately, Roth Mkm reiterated a “buy” rating and set a $20.00 price target on shares of Enlight Renewable Energy in a research report on Wednesday, August 14th.
View Our Latest Analysis on Enlight Renewable Energy
Enlight Renewable Energy Stock Performance
Enlight Renewable Energy (NASDAQ:ENLT – Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.07. The firm had revenue of $84.70 million during the quarter, compared to analysts’ expectations of $76.23 million. Enlight Renewable Energy had a return on equity of 4.47% and a net margin of 23.15%. Enlight Renewable Energy’s revenue for the quarter was up 61.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 EPS. As a group, research analysts predict that Enlight Renewable Energy Ltd will post 0.25 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Enlight Renewable Energy in the 4th quarter valued at $217,000. Susquehanna International Group Ltd. purchased a new position in shares of Enlight Renewable Energy in the 2nd quarter valued at about $253,000. Tidal Investments LLC acquired a new stake in shares of Enlight Renewable Energy during the 1st quarter worth about $254,000. Capstone Investment Advisors LLC raised its position in shares of Enlight Renewable Energy by 9.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the company’s stock worth $369,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Enlight Renewable Energy during the first quarter worth approximately $377,000. Hedge funds and other institutional investors own 38.89% of the company’s stock.
About Enlight Renewable Energy
Enlight Renewable Energy Ltd operates a renewable energy platform in Israel, Central-Eastern Europe, Western Europe, and the United States. The company develops, finances, constructs, owns, and operates utility-scale renewable energy projects. It develops wind energy and solar energy projects, as well as energy storage projects.
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