Enlight Renewable Energy (NASDAQ:ENLT) Trading Up 2.6%

Enlight Renewable Energy Ltd (NASDAQ:ENLT)’s share price shot up 2.6% on Wednesday . The stock traded as high as $16.76 and last traded at $16.74. 6,155 shares changed hands during trading, a decline of 81% from the average session volume of 32,044 shares. The stock had previously closed at $16.32.

Wall Street Analyst Weigh In

Separately, Roth Mkm restated a “buy” rating and set a $20.00 price objective on shares of Enlight Renewable Energy in a report on Wednesday, August 14th.

Enlight Renewable Energy Stock Up 2.5 %

The company has a market capitalization of $1.93 billion, a P/E ratio of 32.78 and a beta of 1.68. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.60. The firm has a fifty day simple moving average of $15.97 and a 200-day simple moving average of $16.72.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its earnings results on Wednesday, August 7th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.07. The business had revenue of $84.70 million during the quarter, compared to analysts’ expectations of $76.23 million. Enlight Renewable Energy had a return on equity of 4.47% and a net margin of 23.15%. Enlight Renewable Energy’s revenue for the quarter was up 61.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.12 EPS. On average, equities research analysts expect that Enlight Renewable Energy Ltd will post 0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Enlight Renewable Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Capstone Investment Advisors LLC boosted its stake in Enlight Renewable Energy by 9.0% in the 1st quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the company’s stock worth $369,000 after purchasing an additional 1,800 shares during the period. Swiss National Bank lifted its holdings 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 purchasing an additional 3,045 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Enlight Renewable Energy during the fourth quarter worth about $217,000. Tidal Investments LLC acquired a new position in shares of Enlight Renewable Energy during the first quarter worth about $254,000. Finally, Susquehanna International Group Ltd. bought a new position in shares of Enlight Renewable Energy during the second quarter worth about $253,000. 38.89% of the stock is currently owned by institutional investors and hedge funds.

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.