Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Up – Should You Buy?

Shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT) gapped up before the market opened on Thursday . The stock had previously closed at $16.69, but opened at $17.07. Enlight Renewable Energy shares last traded at $17.10, with a volume of 2,379 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Barclays boosted 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 note on Friday, November 15th. JPMorgan Chase & Co. boosted their price target on shares of Enlight Renewable Energy from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Wolfe Research lowered shares of Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Enlight Renewable Energy in a research report on Thursday, March 6th. They set a “buy” rating and a $22.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.25.

Enlight Renewable Energy Stock Down 1.1 %

The company has a current ratio of 1.22, a quick ratio of 0.53 and a debt-to-equity ratio of 1.98. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 47.25 and a beta of 1.38. The firm’s fifty day simple moving average is $16.82 and its two-hundred day simple moving average is $16.38.

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

Hedge Funds Weigh In On Enlight Renewable Energy

Several institutional investors and hedge funds have recently bought and sold shares of ENLT. Advisors Asset Management Inc. boosted its holdings in Enlight Renewable Energy by 1,181.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 14,263 shares of the company’s stock valued at $241,000 after purchasing an additional 13,150 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Enlight Renewable Energy by 4.2% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,771,161 shares of the company’s stock valued at $147,885,000 after acquiring an additional 353,750 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Enlight Renewable Energy in the 3rd quarter valued at approximately $655,000. Barclays PLC raised its stake in shares of Enlight Renewable Energy by 4,278.2% in the 3rd quarter. Barclays PLC now owns 25,525 shares of the company’s stock valued at $432,000 after acquiring an additional 24,942 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Enlight Renewable Energy by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 103,590 shares of the company’s stock valued at $1,751,000 after acquiring an additional 907 shares during the period. 38.89% of the stock is currently 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.