Enlight Renewable Energy (NASDAQ:ENLT) Shares Up 8.3%

Enlight Renewable Energy Ltd (NASDAQ:ENLT) was up 8.3% during trading on Thursday . The company traded as high as $17.41 and last traded at $17.32. Approximately 21,491 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 43,207 shares. The stock had previously closed at $16.00.

Analysts Set New Price Targets

ENLT has been the subject of a number of research reports. JPMorgan Chase & Co. reissued a “neutral” rating and set a $16.00 target price (down previously from $19.00) on shares of Enlight Renewable Energy in a report on Monday, April 8th. Barclays decreased their target price on shares of Enlight Renewable Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th.

Enlight Renewable Energy Price Performance

The firm has a market cap of $2.03 billion, a P/E ratio of 30.79 and a beta of 1.68. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.14 and a quick ratio of 1.14. The company’s 50-day moving average is $16.80 and its two-hundred day moving average is $16.78.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings results on Monday, February 26th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.05). Enlight Renewable Energy had a return on equity of 5.05% and a net margin of 27.74%. The firm had revenue of $73.83 million for the quarter, compared to analyst estimates of $85.36 million. Sell-side analysts anticipate that Enlight Renewable Energy Ltd will post 0.44 EPS for the current fiscal year.

Institutional Trading of Enlight Renewable Energy

Several large investors have recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. raised its stake in Enlight Renewable Energy by 171.4% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,458,907 shares of the company’s stock worth $38,580,000 after acquiring an additional 1,552,795 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its stake in Enlight Renewable Energy by 16.2% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 7,936,313 shares of the company’s stock valued at $155,473,000 after purchasing an additional 1,105,929 shares during the last quarter. Meitav Investment House Ltd. boosted its position in Enlight Renewable Energy by 9.7% in the third quarter. Meitav Investment House Ltd. now owns 6,589,826 shares of the company’s stock valued at $103,409,000 after buying an additional 582,537 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Enlight Renewable Energy by 277.6% during the first quarter. Assenagon Asset Management S.A. now owns 580,673 shares of the company’s stock worth $9,752,000 after buying an additional 426,881 shares during the last quarter. Finally, Y.D. More Investments Ltd bought a new position in shares of Enlight Renewable Energy in the 3rd quarter valued at $3,226,000. 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.