Enlight Renewable Energy (NASDAQ:ENLT) Sees Unusually-High Trading Volume - Here's What Happened

Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report) saw an uptick in trading volume on Tuesday . 68,954 shares changed hands during mid-day trading, an increase of 324% from the previous session's volume of 16,248 shares.The stock last traded at $19.77 and had previously closed at $19.47.

Wall Street Analysts Forecast Growth

ENLT has been the subject of a number of recent analyst reports. Wolfe Research lowered Enlight Renewable Energy from an "outperform" rating to a "peer perform" rating in a report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Enlight Renewable Energy in a research report on Thursday, March 6th. They issued a "buy" rating and a $22.00 price objective for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $20.25.

Enlight Renewable Energy Price Performance

The business's fifty day moving average price is $17.11 and its 200-day moving average price is $16.81. The company has a market capitalization of $2.28 billion, a P/E ratio of 54.72 and a beta of 1.24. The company has a current ratio of 1.22, a quick ratio of 0.53 and a debt-to-equity ratio of 1.98.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.24. Enlight Renewable Energy had a return on equity of 3.03% and a net margin of 11.09%. The business had revenue of $129.87 million for the quarter, compared to the consensus estimate of $396.61 million. As a group, sell-side analysts predict that Enlight Renewable Energy Ltd will post 0.41 earnings per share for the current fiscal year.

Institutional Trading of Enlight Renewable Energy

Hedge funds have recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. raised its position in Enlight Renewable Energy by 51.0% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 1,850 shares of the company's stock worth $32,000 after purchasing an additional 625 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Enlight Renewable Energy during the fourth quarter valued at about $145,000. Jane Street Group LLC purchased a new position in shares of Enlight Renewable Energy in the fourth quarter worth about $196,000. TD Asset Management Inc purchased a new position in shares of Enlight Renewable Energy in the first quarter worth about $203,000. Finally, Advisors Asset Management Inc. lifted its stake in shares of Enlight Renewable Energy by 70.7% in the 1st quarter. Advisors Asset Management Inc. now owns 27,565 shares of the company's stock valued at $445,000 after acquiring an additional 11,414 shares during the last quarter. 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.