Enlight Renewable Energy (NASDAQ:ENLT) Sees Strong Trading Volume – Still a Buy?

Enlight Renewable Energy Ltd (NASDAQ:ENLT) shares saw an uptick in trading volume on Tuesday . 14,427 shares changed hands during mid-day trading, a decline of 9% from the previous session’s volume of 15,939 shares.The stock last traded at $15.46 and had previously closed at $15.05.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ENLT shares. Deutsche Bank Aktiengesellschaft began coverage on Enlight Renewable Energy in a report on Thursday, March 6th. They set a “buy” rating and a $22.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on shares of Enlight Renewable Energy from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, Wolfe Research downgraded shares of Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 20th. Two research 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, Enlight Renewable Energy presently has an average rating of “Moderate Buy” and a consensus target price of $20.25.

Enlight Renewable Energy Stock Performance

The firm has a fifty day moving average of $16.60 and a 200-day moving average of $16.39. The company has a quick ratio of 0.53, a current ratio of 1.22 and a debt-to-equity ratio of 1.98. The firm has a market cap of $1.79 billion, a P/E ratio of 42.92 and a beta of 1.26.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.17. Enlight Renewable Energy had a net margin of 11.09% and a return on equity of 3.03%. The company had revenue of $114.21 million during the quarter, compared to analysts’ expectations of $289.04 million. Research analysts predict that Enlight Renewable Energy Ltd will post 0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enlight Renewable Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Edmond DE Rothschild Holding S.A. grew its position 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 worth $32,000 after buying an additional 625 shares during the period. Russell Investments Group Ltd. bought a new position in Enlight Renewable Energy during the 4th quarter worth approximately $145,000. Jane Street Group LLC acquired a new position in Enlight Renewable Energy during the fourth quarter valued at approximately $196,000. Tidal Investments LLC increased its stake in Enlight Renewable Energy by 11.3% in the third 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 raised its holdings in Enlight Renewable Energy by 4,278.2% in the third 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 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.