Ellomay Capital (NYSEAMERICAN:ELLO) Share Price Crosses Above 50 Day Moving Average - Here's Why

Key Points

• Technical: Shares of Ellomay Capital passed above its 50-day moving average ($25.09), trading as high as $26.00 and last at $25.39, although the stock was down about 2.7% on the day.
• Fundamentals & ownership: The company has a market cap of ~$349.9M, a negative P/E (-141.06) and a high debt-to-equity ratio (3.50), with ~27.5% of shares held by institutions and recent sizable purchases by Clal Insurance, Menora Mivtachim and others.

Shares of Ellomay Capital Ltd. (NYSEAMERICAN:ELLO - Get Free Report) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $25.09 and traded as high as $26.00. Ellomay Capital shares last traded at $25.39, with a volume of 1,933 shares.

Ellomay Capital Trading Down 2.7%

The company's 50 day moving average price is $25.09 and its 200 day moving average price is $24.08. The company has a market cap of $349.87 million, a price-to-earnings ratio of -141.06 and a beta of 0.98. The company has a debt-to-equity ratio of 3.50, a quick ratio of 1.18 and a current ratio of 1.25.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd grew its stake in Ellomay Capital by 4.6% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,594,224 shares of the utilities provider's stock valued at $28,276,000 after buying an additional 70,180 shares during the last quarter. Menora Mivtachim Holdings LTD. bought a new position in shares of Ellomay Capital during the 3rd quarter worth about $17,019,000. JPMorgan Chase & Co. lifted its holdings in shares of Ellomay Capital by 39.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,601 shares of the utilities provider's stock worth $65,000 after acquiring an additional 1,021 shares during the period. Finally, Yelin Lapidot Holdings Management Ltd. lifted its holdings in shares of Ellomay Capital by 75.5% during the 4th quarter. Yelin Lapidot Holdings Management Ltd. now owns 193,565 shares of the utilities provider's stock worth $4,704,000 after acquiring an additional 83,300 shares during the period. 27.54% of the stock is currently owned by institutional investors and hedge funds.

About Ellomay Capital

Ellomay Capital Ltd. is an Israel-based investment company specializing in the acquisition, financing, development and operation of renewable energy and related infrastructure assets. Founded in 2014 and traded on the NYSE American under the ticker ELLO, Ellomay focuses on building a diversified portfolio of solar photovoltaic (PV) projects and specialty infrastructure businesses that generate stable, long-term cash flows under government-backed tariffs and concession agreements.

The company's core activities center on ground-mounted solar PV installations in Italy, where its operating portfolio comprises multiple medium-sized projects secured under feed-in-tariff regimes.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.