Enlight Renewable Energy (NASDAQ:ENLT) Sees Strong Trading Volume – Still a Buy?

Enlight Renewable Energy Ltd (NASDAQ:ENLT) shares saw an uptick in trading volume on Tuesday . 18,084 shares changed hands 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 brokerages have recently issued reports on ENLT. Wolfe Research cut shares of Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. lifted their target price on Enlight Renewable Energy from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft started coverage on Enlight Renewable Energy in a report on Thursday, March 6th. They set a “buy” rating and a $22.00 price target for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Enlight Renewable Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.25.

Enlight Renewable Energy Price Performance

The stock has a market cap of $1.87 billion, a PE ratio of 44.89 and a beta of 1.38. The business has a 50 day moving average price of $16.66 and a two-hundred day moving average price of $16.39. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.53 and a current ratio of 1.22.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly 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. Enlight Renewable Energy had a net margin of 11.09% and a return on equity of 3.03%. The company had revenue of $114.21 million during the quarter, compared to analyst estimates of $289.04 million. Research analysts expect that Enlight Renewable Energy Ltd will post 0.41 earnings per share for the current fiscal year.

Institutional Trading of Enlight Renewable Energy

Large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio grew its stake in shares of Enlight Renewable Energy by 2.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 39,872 shares of the company’s stock worth $690,000 after acquiring an additional 947 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Enlight Renewable Energy by 9.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 336,224 shares of the company’s stock valued at $5,798,000 after purchasing an additional 28,792 shares during the last quarter. USS Investment Management Ltd bought a new position in Enlight Renewable Energy during the fourth quarter worth about $985,000. Deutsche Bank AG boosted its position in shares of Enlight Renewable Energy by 0.6% in the fourth quarter. Deutsche Bank AG now owns 425,693 shares of the company’s stock valued at $7,343,000 after acquiring an additional 2,748 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Enlight Renewable Energy in the 4th quarter valued at about $196,000. 38.89% of the stock is owned by hedge funds and other 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.