Enlight Renewable Energy (NASDAQ:ENLT) Stock Rating Reaffirmed by Roth Mkm

Enlight Renewable Energy (NASDAQ:ENLT)‘s stock had its “buy” rating reaffirmed by equities research analysts at Roth Mkm in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $20.00 price objective on the stock. Roth Mkm’s price target points to a potential upside of 23.00% from the company’s current price.

Enlight Renewable Energy Stock Down 1.6 %

ENLT stock traded down $0.27 during midday trading on Wednesday, hitting $16.26. The company’s stock had a trading volume of 2,814 shares, compared to its average volume of 33,629. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.60. Enlight Renewable Energy has a 52-week low of $12.11 and a 52-week high of $20.00. The firm has a market capitalization of $1.88 billion, a P/E ratio of 31.71 and a beta of 1.68. The firm has a 50-day simple moving average of $16.15 and a 200-day simple moving average of $16.81.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.07. The business had revenue of $84.70 million during the quarter, compared to analysts’ expectations of $76.23 million. Enlight Renewable Energy had a net margin of 23.15% and a return on equity of 4.47%. The company’s revenue for the quarter was up 61.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.12 EPS. As a group, equities analysts forecast that Enlight Renewable Energy will post 0.25 EPS for the current year.

Institutional Investors Weigh In On Enlight Renewable Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Capstone Investment Advisors LLC raised its stake in 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. Swiss National Bank increased its stake in Enlight Renewable Energy by 1.3% in the first quarter. Swiss National Bank now owns 236,337 shares of the company’s stock valued at $3,954,000 after purchasing an additional 3,045 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new position in Enlight Renewable Energy in the fourth quarter valued at $217,000. Tidal Investments LLC acquired a new position in Enlight Renewable Energy in the first quarter valued at $254,000. Finally, Quadrature Capital Ltd acquired a new position in Enlight Renewable Energy in the first quarter valued at $377,000. 38.89% of the stock is currently owned by institutional investors and hedge funds.

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.