Enlight Renewable Energy (NASDAQ:ENLT) Sees Strong Trading Volume – What’s Next?

Enlight Renewable Energy Ltd (NASDAQ:ENLT) shares saw unusually-strong trading volume on Tuesday . Approximately 18,084 shares traded hands during trading, an increase of 9% from the previous session’s volume of 16,563 shares.The stock last traded at $16.13 and had previously closed at $15.70.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ENLT shares. Wolfe Research lowered Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 20th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Enlight Renewable Energy in a research note on Thursday, March 6th. They issued a “buy” rating and a $22.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their target price on shares of Enlight Renewable Energy from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.25.

Enlight Renewable Energy Price Performance

The company’s 50 day moving average price is $16.69 and its 200 day moving average price is $16.39. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.53 and a current ratio of 1.22. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 44.81 and a beta of 1.38.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.17. The firm had revenue of $114.21 million for the quarter, compared to analyst estimates of $289.04 million. Enlight Renewable Energy had a net margin of 11.09% and a return on equity of 3.03%. On average, equities research analysts predict that Enlight Renewable Energy Ltd will post 0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enlight Renewable Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Y.D. More Investments Ltd increased its stake in shares of Enlight Renewable Energy by 18.6% in the fourth quarter. Y.D. More Investments Ltd now owns 3,068,179 shares of the company’s stock valued at $53,043,000 after buying an additional 482,129 shares in the last quarter. Phoenix Financial Ltd. grew its holdings in Enlight Renewable Energy by 42.2% during the 4th quarter. Phoenix Financial Ltd. now owns 1,254,495 shares of the company’s stock worth $21,634,000 after acquiring an additional 372,403 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in Enlight Renewable Energy during the 3rd quarter worth about $4,901,000. Meitav Investment House Ltd. raised its stake in shares of Enlight Renewable Energy by 4.0% in the fourth quarter. Meitav Investment House Ltd. now owns 5,901,179 shares of the company’s stock worth $101,910,000 after acquiring an additional 229,255 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Enlight Renewable Energy in the fourth quarter worth about $3,631,000. 38.89% of the stock is owned by institutional investors and hedge funds.

Enlight Renewable Energy Company Profile

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.