Enlight Renewable Energy (NASDAQ:ENLT) Sees Strong Trading Volume – Here’s Why

Enlight Renewable Energy Ltd (NASDAQ:ENLT) shares saw an uptick in trading volume on Tuesday . 18,084 shares were traded during trading, an increase of 9% from the previous session’s volume of 16,563 shares.The stock last traded at $16.13 and had previously closed at $15.70.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ENLT shares. JPMorgan Chase & Co. boosted their target price on 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 note on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Enlight Renewable Energy in a research note on Thursday, March 6th. They issued 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.25.

Enlight Renewable Energy Stock Performance

The company has a market cap of $1.86 billion, a price-to-earnings ratio of 44.81 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. The firm has a fifty day simple moving average of $16.69 and a 200 day simple moving average of $16.39.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Edmond DE Rothschild Holding S.A. grew its stake in shares of Enlight Renewable Energy by 51.0% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 1,850 shares of the company’s stock worth $32,000 after acquiring an additional 625 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Enlight Renewable Energy in the 4th quarter valued at $145,000. Jane Street Group LLC bought a new position in shares of Enlight Renewable Energy during the 4th quarter worth about $196,000. Tidal Investments LLC raised its position in shares of Enlight Renewable Energy by 11.3% during the third quarter. Tidal Investments LLC now owns 18,241 shares of the company’s stock valued at $308,000 after buying an additional 1,852 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Enlight Renewable Energy by 4,278.2% in the third quarter. Barclays PLC now owns 25,525 shares of the company’s stock valued at $432,000 after buying an additional 24,942 shares during the period. 38.89% of the stock is owned by 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.