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

Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report) saw an uptick in trading volume on Monday . 15,709 shares traded hands during trading, an increase of 7% from the previous session's volume of 14,739 shares.The stock last traded at $18.65 and had previously closed at $18.18.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ENLT. 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 price target on the stock. JPMorgan Chase & Co. upped their price target on Enlight Renewable Energy from $17.00 to $18.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. Finally, Wolfe Research downgraded Enlight Renewable Energy from an "outperform" rating to a "peer perform" rating in a research note on Thursday, February 20th. Two equities 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, the company currently has an average rating of "Moderate Buy" and an average target price of $20.25.

Enlight Renewable Energy Price Performance

The company has a current ratio of 1.22, a quick ratio of 0.53 and a debt-to-equity ratio of 1.98. The company has a market cap of $2.25 billion, a PE ratio of 54.15 and a beta of 1.24. The firm has a 50 day moving average of $16.28 and a two-hundred day moving average of $16.44.

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

Hedge Funds Weigh In On Enlight Renewable Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meitav Investment House Ltd. lifted its position in Enlight Renewable Energy by 4.0% in the 4th quarter. Meitav Investment House Ltd. now owns 5,901,179 shares of the company's stock valued at $101,910,000 after acquiring an additional 229,255 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Enlight Renewable Energy by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 4,227,862 shares of the company's stock valued at $68,107,000 after buying an additional 69,329 shares during the period. Y.D. More Investments Ltd raised its holdings in Enlight Renewable Energy by 18.0% in the 1st quarter. Y.D. More Investments Ltd now owns 3,621,516 shares of the company's stock worth $57,870,000 after purchasing an additional 553,337 shares during the period. Invesco Ltd. raised its holdings in Enlight Renewable Energy by 2.5% in the 1st quarter. Invesco Ltd. now owns 1,656,086 shares of the company's stock worth $26,762,000 after purchasing an additional 40,665 shares during the period. Finally, Phoenix Financial Ltd. raised its holdings in Enlight Renewable Energy by 42.2% in the 4th quarter. Phoenix Financial Ltd. now owns 1,254,495 shares of the company's stock worth $21,634,000 after purchasing an additional 372,403 shares during the period. 38.89% of the stock is owned by institutional investors.

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.