Enlight Renewable Energy (NASDAQ:ENLT) Trading Up 3.9% – What’s Next?

Shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT) were up 3.9% on Friday . The company traded as high as $16.23 and last traded at $16.93. Approximately 6,764 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 17,062 shares. The stock had previously closed at $16.29.

Wall Street Analysts Forecast Growth

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

Enlight Renewable Energy Stock Performance

The business has a 50-day moving average of $16.80 and a two-hundred day moving average of $16.39. The company has a market cap of $1.87 billion, a P/E ratio of 44.92 and a beta of 1.38. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.22 and a quick ratio of 0.53.

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

Institutional Investors Weigh In On Enlight Renewable Energy

Several institutional investors have recently added to or reduced their stakes in ENLT. Advisors Asset Management Inc. boosted its holdings 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 worth $241,000 after acquiring an additional 13,150 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its holdings in Enlight Renewable Energy by 4.2% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,771,161 shares of the company’s stock worth $147,885,000 after acquiring an additional 353,750 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Enlight Renewable Energy in the third quarter worth about $655,000. Barclays PLC boosted its holdings in Enlight Renewable Energy by 4,278.2% in the third quarter. Barclays PLC now owns 25,525 shares of the company’s stock worth $432,000 after acquiring an additional 24,942 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Enlight Renewable Energy by 0.9% in the third quarter. Geode Capital Management LLC now owns 103,590 shares of the company’s stock worth $1,751,000 after acquiring an additional 907 shares in the last quarter. Institutional investors and hedge funds own 38.89% of the company’s stock.

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.