Enlight Renewable Energy (NASDAQ:ENLT) Stock Price Up 8.3%

Enlight Renewable Energy Ltd (NASDAQ:ENLT) shares traded up 8.3% on Thursday . The company traded as high as $17.41 and last traded at $17.32. 21,491 shares were traded during mid-day trading, a decline of 50% from the average session volume of 43,207 shares. The stock had previously closed at $16.00.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ENLT shares. Barclays reduced their target price on shares of Enlight Renewable Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $16.00 price objective (down previously from $19.00) on shares of Enlight Renewable Energy in a report on Monday, April 8th.

Enlight Renewable Energy Stock Up 1.2 %

The stock’s fifty day moving average is $16.80 and its 200 day moving average is $16.78. The company has a market capitalization of $2.03 billion, a P/E ratio of 30.79 and a beta of 1.68. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.63.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its earnings results on Monday, February 26th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.05). The business had revenue of $73.83 million during the quarter, compared to the consensus estimate of $85.36 million. Enlight Renewable Energy had a return on equity of 5.05% and a net margin of 27.74%. Research analysts predict that Enlight Renewable Energy Ltd will post 0.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Enlight Renewable Energy by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 3,889,496 shares of the company’s stock valued at $61,026,000 after purchasing an additional 79,618 shares during the period. Yelin Lapidot Holdings Management Ltd. bought a new position in Enlight Renewable Energy in the third quarter worth $3,120,000. Clal Insurance Enterprises Holdings Ltd lifted its position in Enlight Renewable Energy by 7.5% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 6,830,384 shares of the company’s stock valued at $107,302,000 after buying an additional 477,897 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Enlight Renewable Energy by 40.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 410,362 shares of the company’s stock valued at $6,476,000 after buying an additional 117,525 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Enlight Renewable Energy by 171.4% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,458,907 shares of the company’s stock worth $38,580,000 after buying an additional 1,552,795 shares during the period. 38.89% of the stock is currently owned by institutional investors.

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.