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

Enlight Renewable Energy Ltd (NASDAQ:ENLT) shares saw unusually-high trading volume on Friday . Approximately 4,261 shares changed hands during mid-day trading, an increase of 31% from the previous session’s volume of 3,263 shares.The stock last traded at $17.01 and had previously closed at $17.33.

Analyst Ratings Changes

Separately, Barclays raised their target price on shares of Enlight Renewable Energy from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th.

Enlight Renewable Energy Stock Performance

The stock has a market cap of $2.02 billion, a PE ratio of 39.64 and a beta of 1.70. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.53 and a quick ratio of 0.53. The stock has a 50-day simple moving average of $16.25 and a 200-day simple moving average of $16.08.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its earnings results on Wednesday, November 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. The business had revenue of $109.50 million during the quarter, compared to analysts’ expectations of $83.09 million. Enlight Renewable Energy had a return on equity of 3.34% and a net margin of 13.58%. The company’s revenue for the quarter was up 87.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.13 EPS. Equities analysts predict that Enlight Renewable Energy Ltd will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ENLT. Y.D. More Investments Ltd grew its stake in shares of Enlight Renewable Energy by 94,919.7% in the second quarter. Y.D. More Investments Ltd now owns 1,957,405 shares of the company’s stock valued at $31,166,000 after buying an additional 1,955,345 shares in the last quarter. Susquehanna International Group Ltd. acquired a new stake in Enlight Renewable Energy in the second quarter valued at approximately $253,000. Advisors Asset Management Inc. grew its position in Enlight Renewable Energy by 1,181.5% in the third quarter. Advisors Asset Management Inc. now owns 14,263 shares of the company’s stock valued at $241,000 after acquiring an additional 13,150 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Enlight Renewable Energy by 4.2% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,771,161 shares of the company’s stock worth $147,885,000 after purchasing an additional 353,750 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Enlight Renewable Energy in the third quarter valued at $655,000. 38.89% of the stock is owned by hedge funds and other institutional investors.

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.