Enlight Renewable Energy (NASDAQ:ENLT) Trading Up 1.9% – Time to Buy?

Enlight Renewable Energy Ltd (NASDAQ:ENLT) shot up 1.9% during trading on Monday . The company traded as high as $15.34 and last traded at $15.34. 2,293 shares were traded during mid-day trading, a decline of 86% from the average session volume of 15,954 shares. The stock had previously closed at $15.05.

Analyst Ratings Changes

Several brokerages have issued reports on ENLT. Wolfe Research downgraded shares of Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. upped their target price on Enlight Renewable Energy from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft began coverage on Enlight Renewable Energy in a research report on Thursday, March 6th. They issued a “buy” rating and a $22.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.25.

Enlight Renewable Energy Price Performance

The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 42.72 and a beta of 1.26. The company has a fifty day simple moving average of $16.62 and a two-hundred day simple moving average 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 released its earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.17. Enlight Renewable Energy had a return on equity of 3.03% and a net margin of 11.09%. The firm had revenue of $114.21 million during the quarter, compared to analyst estimates of $289.04 million. As a group, research analysts anticipate that Enlight Renewable Energy Ltd will post 0.41 earnings per share for the current year.

Hedge Funds Weigh In On Enlight Renewable Energy

Several institutional investors and hedge funds have recently bought and sold shares of ENLT. Edmond DE Rothschild Holding S.A. grew its stake in shares of Enlight Renewable Energy by 51.0% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 1,850 shares of the company’s stock valued at $32,000 after buying an additional 625 shares during the period. Russell Investments Group Ltd. acquired a new stake in Enlight Renewable Energy during the fourth quarter worth about $145,000. Jane Street Group LLC purchased a new position in shares of Enlight Renewable Energy in the 4th quarter worth about $196,000. Tidal Investments LLC lifted its stake in shares of Enlight Renewable Energy by 11.3% in the 3rd quarter. Tidal Investments LLC now owns 18,241 shares of the company’s stock valued at $308,000 after purchasing an additional 1,852 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Enlight Renewable Energy by 4,278.2% during the 3rd quarter. Barclays PLC now owns 25,525 shares of the company’s stock worth $432,000 after purchasing an additional 24,942 shares during the period. Institutional investors and hedge funds own 38.89% of the company’s stock.

Enlight Renewable Energy Company Profile

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.