Enlight Renewable Energy (NASDAQ:ENLT) Stock Price Up 5% – Should You Buy?

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

Wall Street Analysts Forecast Growth

Separately, Barclays upped their target price on Enlight Renewable Energy from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, November 15th.

Enlight Renewable Energy Stock Performance

The firm has a market capitalization of $2.00 billion, a P/E ratio of 39.39 and a beta of 1.70. The company has a 50-day moving average of $16.03 and a 200-day moving average of $16.06. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.64.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its earnings results on Wednesday, November 13th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.03 by $0.09. The business had revenue of $109.50 million for the quarter, compared to analysts’ expectations 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 revenue was up 87.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 earnings per share. On average, equities analysts anticipate that Enlight Renewable Energy Ltd will post 0.15 earnings per share for the current fiscal year.

Institutional Trading of Enlight Renewable Energy

Institutional investors have recently bought and sold shares of the company. Tidal Investments LLC boosted its position in shares of Enlight Renewable Energy by 11.3% during 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. Barclays PLC lifted its stake in Enlight Renewable Energy by 4,278.2% in the third quarter. Barclays PLC now owns 25,525 shares of the company’s stock valued at $432,000 after buying an additional 24,942 shares during the period. Geode Capital Management LLC lifted its stake in Enlight Renewable Energy by 0.9% in the third quarter. Geode Capital Management LLC now owns 103,590 shares of the company’s stock valued at $1,751,000 after buying an additional 907 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Enlight Renewable Energy during the 3rd quarter worth approximately $655,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its position in shares of Enlight Renewable Energy by 4.2% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,771,161 shares of the company’s stock worth $147,885,000 after buying an additional 353,750 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.