Enlight Renewable Energy (NASDAQ:ENLT) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT) saw unusually-high trading volume on Monday . Approximately 199,842 shares changed hands during trading, an increase of 10% from the previous session’s volume of 181,423 shares.The stock last traded at $84.8250 and had previously closed at $86.44.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wall Street Zen raised shares of Enlight Renewable Energy from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. JPMorgan Chase & Co. increased their price target on Enlight Renewable Energy from $57.00 to $68.00 and gave the company an “underweight” rating in a research note on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft set a $65.00 price target on Enlight Renewable Energy and gave the company a “hold” rating in a research report on Thursday, April 9th. Finally, UBS Group upped their price objective on Enlight Renewable Energy from $105.00 to $123.00 and gave the company a “buy” rating in a report on Friday, May 29th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $63.17.

Enlight Renewable Energy Trading Up 3.1%

The business’s 50-day simple moving average is $91.28 and its 200-day simple moving average is $72.05. The company has a market cap of $10.56 billion, a PE ratio of 207.03, a P/E/G ratio of 31.29 and a beta of 1.56. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.68.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share (EPS) for the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%.The business had revenue of $156.49 million during the quarter. As a group, analysts expect that Enlight Renewable Energy Ltd. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling

In other Enlight Renewable Energy news, SVP Meron Carr sold 3,329 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $103.44, for a total value of $344,351.76. Following the sale, the senior vice president owned 42,465 shares of the company’s stock, valued at $4,392,579.60. This trade represents a 7.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Yitzhak Betzalel sold 2,062 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $103.64, for a total transaction of $213,705.68. Following the transaction, the director directly owned 2 shares in the company, valued at $207.28. This trade represents a 99.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 313,597 shares of company stock valued at $29,830,515 in the last quarter.

Institutional Investors Weigh In On Enlight Renewable Energy

Several large investors have recently made changes to their positions in the company. State of Wyoming acquired a new position in Enlight Renewable Energy in the first quarter worth $41,000. BNP Paribas Financial Markets grew its holdings in shares of Enlight Renewable Energy by 256.1% during the second quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock worth $28,000 after purchasing an additional 881 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Enlight Renewable Energy in the fourth quarter valued at $56,000. Walleye Capital LLC acquired a new stake in shares of Enlight Renewable Energy in the first quarter valued at $240,000. Finally, Savant Capital LLC bought a new position in shares of Enlight Renewable Energy in the fourth quarter valued at about $241,000. Institutional investors own 38.89% of the company’s stock.

About Enlight Renewable Energy

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) is an independent power producer specializing in the development, financing, construction and operation of renewable energy assets. The company’s portfolio encompasses utility-scale solar photovoltaic (PV) farms, onshore wind farms and energy storage facilities. By providing end-to-end project management—from site identification and feasibility studies through engineering procurement and construction (EPC) to long-term operations and maintenance—Enlight seeks to deliver reliable clean power under long-term power purchase agreements (PPAs).

Founded in 2008 and headquartered in Tel Aviv, Enlight has pursued an international growth strategy with operational and development projects in Israel and Western Europe.