Enlight Renewable Energy (NASDAQ:ENLT) Trading 4.7% Higher

Enlight Renewable Energy Ltd (NASDAQ:ENLT)’s share price traded up 4.7% during trading on Monday . The company traded as high as $16.95 and last traded at $16.85. 3,493 shares changed hands during trading, a decline of 88% from the average session volume of 28,985 shares. The stock had previously closed at $16.09.

Analyst Ratings Changes

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

Enlight Renewable Energy Stock Performance

The company has a market capitalization of $1.94 billion, a PE ratio of 31.55 and a beta of 1.69. The firm has a 50-day moving average of $16.00 and a two-hundred day moving average of $16.53. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.59.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.06 EPS for the quarter, beating 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 3.97% and a net margin of 18.61%. The business’s revenue was up 61.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.12 earnings per share. Research analysts anticipate that Enlight Renewable Energy Ltd will post 0.26 EPS for the current year.

Institutional Trading of Enlight Renewable Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Enlight Renewable Energy by 16.2% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 7,936,313 shares of the company’s stock worth $155,473,000 after purchasing an additional 1,105,929 shares in the last quarter. Capstone Investment Advisors LLC boosted its stake in Enlight Renewable Energy by 10.5% during the fourth quarter. Capstone Investment Advisors LLC now owns 20,000 shares of the company’s stock worth $383,000 after buying an additional 1,900 shares during the last quarter. Y.D. More Investments Ltd boosted its stake in Enlight Renewable Energy by 94,919.7% during the second quarter. Y.D. More Investments Ltd now owns 1,957,405 shares of the company’s stock worth $31,166,000 after buying an additional 1,955,345 shares during the last quarter. Tidal Investments LLC acquired a new position in Enlight Renewable Energy during the first quarter worth $254,000. Finally, Swiss National Bank boosted its stake in Enlight Renewable Energy by 1.3% during the first quarter. Swiss National Bank now owns 236,337 shares of the company’s stock worth $3,954,000 after buying an additional 3,045 shares during the last quarter. 38.89% of the stock is currently 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.