Enlight Renewable Energy (NASDAQ:ENLT) Trading Up 5% – What’s Next?

Enlight Renewable Energy Ltd (NASDAQ:ENLT)’s stock price traded up 5% during mid-day trading on Tuesday . The stock traded as high as $17.22 and last traded at $17.22. 9,942 shares were traded during mid-day trading, a decline of 61% from the average session volume of 25,809 shares. The stock had previously closed at $16.40.

Wall Street Analyst Weigh In

Separately, Barclays lifted their price objective on Enlight Renewable Energy from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th.

Enlight Renewable Energy Stock Performance

The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 39.55 and a beta of 1.70. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.53 and a quick ratio of 0.53. The stock’s 50-day moving average is $16.07 and its 200-day moving average is $16.06.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings data on Wednesday, November 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.09. The business had revenue of $109.50 million for the quarter, compared to analysts’ expectations of $83.09 million. Enlight Renewable Energy had a return on equity of 3.34% and a net margin of 13.58%. The business’s revenue was up 87.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.13 earnings per share. Analysts anticipate that Enlight Renewable Energy Ltd will post 0.15 EPS for the current fiscal year.

Institutional Trading of Enlight Renewable Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Clal Insurance Enterprises Holdings Ltd boosted its position in shares of Enlight Renewable Energy by 4.2% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,771,161 shares of the company’s stock worth $147,885,000 after acquiring an additional 353,750 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Enlight Renewable Energy during the third quarter worth approximately $655,000. Y.D. More Investments Ltd boosted its holdings in shares of Enlight Renewable Energy by 94,919.7% in the 2nd quarter. Y.D. More Investments Ltd now owns 1,957,405 shares of the company’s stock valued at $31,166,000 after purchasing an additional 1,955,345 shares during the last quarter. Susquehanna International Group Ltd. acquired a new position in shares of Enlight Renewable Energy in the 2nd quarter valued at $253,000. Finally, Tidal Investments LLC grew its stake in shares of Enlight Renewable Energy by 11.3% during the 3rd quarter. Tidal Investments LLC now owns 18,241 shares of the company’s stock valued at $308,000 after buying an additional 1,852 shares during the period. 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.