Enlight Renewable Energy (NASDAQ:ENLT) Stock Price Up 1.9% – Here’s Why

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Enlight Renewable Energy in a research report on Thursday, March 6th. They set a “buy” rating and a $22.00 price target for the company. JPMorgan Chase & Co. upped their target price on Enlight Renewable Energy from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Finally, Wolfe Research downgraded Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.25.

Enlight Renewable Energy Stock Performance

The company has a 50 day moving average of $16.62 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 $1.78 billion, a price-to-earnings ratio of 42.72 and a beta of 1.26.

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. The company had revenue of $114.21 million during the quarter, compared to analysts’ expectations of $289.04 million. Enlight Renewable Energy had a return on equity of 3.03% and a net margin of 11.09%. As a group, equities research analysts expect that Enlight Renewable Energy Ltd will post 0.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Enlight Renewable Energy

Institutional investors have recently modified their holdings of the stock. Edmond DE Rothschild Holding S.A. raised 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 valued at $32,000 after acquiring an additional 625 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Enlight Renewable Energy during the fourth quarter worth approximately $145,000. Jane Street Group LLC bought a new position in shares of Enlight Renewable Energy in the fourth quarter worth $196,000. Tidal Investments LLC grew its position in 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 buying an additional 1,852 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of 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 acquiring an additional 24,942 shares in the last quarter. Institutional investors and hedge funds 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.