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

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

Analysts Set New Price Targets

Separately, Barclays raised their price objective on shares of 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 Up 5.7 %

The stock’s fifty day simple moving average is $16.03 and its 200-day simple moving average is $16.06. The stock has a market cap of $2.00 billion, a P/E ratio of 39.39 and a beta of 1.70. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.53 and a current ratio of 0.53.

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

Institutional Investors Weigh In On Enlight Renewable Energy

Several institutional investors and hedge funds have recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd raised its position in shares of Enlight Renewable Energy by 4.2% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,771,161 shares of the company’s stock valued at $147,885,000 after buying an additional 353,750 shares in the last quarter. Y.D. More Investments Ltd raised its position 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 valued at $31,166,000 after purchasing an additional 1,955,345 shares in the last quarter. Geode Capital Management LLC lifted its stake in Enlight Renewable Energy by 0.9% during the third quarter. Geode Capital Management LLC now owns 103,590 shares of the company’s stock worth $1,751,000 after purchasing an additional 907 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Enlight Renewable Energy in the 3rd quarter valued at $655,000. Finally, Barclays PLC increased its stake in shares of Enlight Renewable Energy by 4,278.2% in the 3rd quarter. Barclays PLC now owns 25,525 shares of the company’s stock valued at $432,000 after purchasing an additional 24,942 shares during the last quarter. 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.