Enlight Renewable Energy (NASDAQ:ENLT) Trading Up 3%

Enlight Renewable Energy Ltd (NASDAQ:ENLT) shares were up 3% during mid-day trading on Tuesday . The stock traded as high as $16.62 and last traded at $16.62. Approximately 2,828 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 47,137 shares. The stock had previously closed at $16.14.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ENLT shares. Barclays lowered their price objective on shares of Enlight Renewable Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. Mizuho lifted their target price on shares of Enlight Renewable Energy from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 3rd. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $16.00 target price (down from $19.00) on shares of Enlight Renewable Energy in a research report on Monday, April 8th.

Enlight Renewable Energy Price Performance

The stock’s 50-day moving average is $17.04 and its 200 day moving average is $16.57. The stock has a market capitalization of $1.92 billion, a PE ratio of 29.23 and a beta of 1.84. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.63.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.05). Enlight Renewable Energy had a net margin of 27.74% and a return on equity of 5.05%. The company had revenue of $73.83 million for the quarter, compared to analysts’ expectations of $85.36 million. As a group, equities analysts predict that Enlight Renewable Energy Ltd will post 0.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC acquired a new stake in Enlight Renewable Energy in the first quarter valued at approximately $32,000. Legal & General Group Plc lifted its stake in Enlight Renewable Energy by 1,250.5% in the third quarter. Legal & General Group Plc now owns 2,890 shares of the company’s stock valued at $46,000 after acquiring an additional 2,676 shares during the last quarter. Deutsche Bank AG acquired a new stake in Enlight Renewable Energy in the first quarter valued at approximately $106,000. Tower Research Capital LLC TRC acquired a new stake in Enlight Renewable Energy in the second quarter valued at approximately $130,000. Finally, Mariner LLC acquired a new stake in Enlight Renewable Energy in the third quarter valued at approximately $165,000. 38.89% of the stock is owned by hedge funds and other institutional investors.

About Enlight Renewable Energy

Enlight Renewable Energy Ltd operates as a renewable energy platform in Israel and internationally. The company initiates, plans, develops, constructs, and operates projects to produce electricity from renewable energy sources. It develops wind energy and solar energy projects, as well as energy storage projects.