Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Up - Still a Buy?

Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $17.51, but opened at $18.33. Enlight Renewable Energy shares last traded at $18.30, with a volume of 3,611 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Enlight Renewable Energy in a research note on Thursday, March 6th. They issued a "buy" rating and a $22.00 price objective on the stock. Wolfe Research downgraded Enlight Renewable Energy from an "outperform" rating to a "peer perform" rating in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $20.25.

Enlight Renewable Energy Price Performance

The business has a fifty day moving average of $16.58 and a 200-day moving average of $16.62. The firm has a market cap of $2.26 billion, a PE ratio of 54.26 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 issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.24. The firm had revenue of $129.87 million for the quarter, compared to analyst estimates of $396.61 million. Enlight Renewable Energy had a return on equity of 3.03% and a net margin of 11.09%. As a group, research analysts predict that Enlight Renewable Energy Ltd will post 0.41 earnings per share for the current year.

Institutional Trading of Enlight Renewable Energy

Several large investors have recently modified their holdings of ENLT. Edmond DE Rothschild Holding S.A. raised its holdings in Enlight Renewable Energy by 51.0% during the fourth 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 during the period. Russell Investments Group Ltd. bought a new stake in shares of Enlight Renewable Energy in the fourth quarter worth about $145,000. Jane Street Group LLC bought a new stake in shares of Enlight Renewable Energy in the fourth quarter worth about $196,000. TD Asset Management Inc bought a new stake in shares of Enlight Renewable Energy in the first quarter worth about $203,000. Finally, Advisors Asset Management Inc. increased its holdings in shares of Enlight Renewable Energy by 70.7% in the first quarter. Advisors Asset Management Inc. now owns 27,565 shares of the company's stock worth $445,000 after purchasing 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.