Enlight Renewable Energy (NASDAQ:ENLT) Sees Unusually-High Trading Volume – What’s Next?

Enlight Renewable Energy Ltd (NASDAQ:ENLT) saw an uptick in trading volume on Wednesday . 22,757 shares changed hands during mid-day trading, a decline of 12% from the previous session’s volume of 25,986 shares.The stock last traded at $15.78 and had previously closed at $15.15.

Wall Street Analyst Weigh In

Separately, Roth Mkm reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Enlight Renewable Energy in a research note on Wednesday, August 14th.

Enlight Renewable Energy Stock Performance

The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company’s 50 day moving average is $15.86 and its 200-day moving average is $16.33. The company has a market capitalization of $1.89 billion, a P/E ratio of 36.49 and a beta of 1.71.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Swiss National Bank increased its stake in shares of Enlight Renewable Energy by 1.3% in the 1st quarter. Swiss National Bank now owns 236,337 shares of the company’s stock worth $3,954,000 after acquiring an additional 3,045 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Enlight Renewable Energy by 1,181.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 14,263 shares of the company’s stock valued at $241,000 after purchasing an additional 13,150 shares in the last quarter. Tidal Investments LLC bought a new stake in Enlight Renewable Energy during the 1st quarter valued at about $254,000. Susquehanna International Group Ltd. bought a new stake in Enlight Renewable Energy during the 2nd quarter valued at about $253,000. Finally, Quadrature Capital Ltd bought a new stake in Enlight Renewable Energy during the 1st quarter valued at about $377,000. 38.89% of the stock is currently owned by 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.