Enlight Renewable Energy (NASDAQ:ENLT) Sees Large Volume Increase

Enlight Renewable Energy Ltd (NASDAQ:ENLT) saw an uptick in trading volume on Wednesday . 23,265 shares changed hands during trading, a decline of 33% from the previous session’s volume of 34,803 shares.The stock last traded at $15.50 and had previously closed at $15.65.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Roth Mkm restated a “buy” rating and issued a $20.00 target price (up previously from $19.00) on shares of Enlight Renewable Energy in a research report on Thursday, May 9th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $16.00 target price (down from $19.00) on shares of Enlight Renewable Energy in a research note on Monday, April 8th. Finally, Barclays lowered their price target on shares of Enlight Renewable Energy from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th.

Enlight Renewable Energy Price Performance

The company has a market cap of $1.78 billion, a PE ratio of 30.84 and a beta of 1.67. The business has a 50 day moving average of $16.54 and a 200 day moving average of $16.94. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.94 and a quick ratio of 0.94.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.05. The company had revenue of $90.40 million during the quarter, compared to analyst estimates of $79.31 million. Enlight Renewable Energy had a net margin of 23.15% and a return on equity of 4.47%. Enlight Renewable Energy’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same period last year, the business earned $0.20 EPS. As a group, research analysts predict that Enlight Renewable Energy Ltd will post 0.25 EPS for the current year.

Hedge Funds Weigh In On Enlight Renewable Energy

A number of institutional investors and hedge funds have recently modified their holdings of ENLT. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Enlight Renewable Energy in the 4th quarter worth $217,000. Tidal Investments LLC acquired a new position in Enlight Renewable Energy in the 1st quarter worth approximately $254,000. Capstone Investment Advisors LLC boosted its holdings in Enlight Renewable Energy by 9.0% in the first quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the company’s stock valued at $369,000 after purchasing an additional 1,800 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in Enlight Renewable Energy during the first quarter worth $377,000. Finally, Swiss National Bank increased its position in shares of Enlight Renewable Energy by 1.3% in the first quarter. Swiss National Bank now owns 236,337 shares of the company’s stock valued at $3,954,000 after buying an additional 3,045 shares in the last quarter. Hedge funds and other institutional investors 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.