Enlight Renewable Energy (NASDAQ:ENLT) Shares Up 2.6%

Shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT) 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.

Enlight Renewable Energy Stock Performance

The stock has a market capitalization of $1.91 billion, a PE ratio of 32.47 and a beta of 1.68. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.94 and a current ratio of 0.94. The firm’s 50 day moving average is $15.98 and its two-hundred day moving average is $16.71.

Enlight Renewable Energy (NASDAQ:ENLT) 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.