Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $22.73, but opened at $23.73. Enlight Renewable Energy shares last traded at $23.50, with a volume of 9,501 shares trading hands.
Wall Street Analysts Forecast Growth
Separately, Deutsche Bank Aktiengesellschaft began coverage on Enlight Renewable Energy in a research note on Thursday, March 6th. They set a "buy" rating and a $22.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $20.25.
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Enlight Renewable Energy Stock Performance
The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.95. The firm has a fifty day moving average price of $19.27 and a 200 day moving average price of $17.44.
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 (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.24. The firm had revenue of $129.87 million during the quarter, compared to the consensus estimate of $396.61 million. Enlight Renewable Energy had a return on equity of 8.17% and a net margin of 27.82%. On average, sell-side 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
A number of hedge funds have recently added to or reduced their stakes in ENLT. Edmond DE Rothschild Holding S.A. lifted its position in shares of 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 worth $32,000 after purchasing an additional 625 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Enlight Renewable Energy in the 4th quarter worth approximately $145,000. Jane Street Group LLC acquired a new position in Enlight Renewable Energy during the 4th quarter worth $196,000. TD Asset Management Inc acquired a new position in Enlight Renewable Energy during the 1st quarter worth $203,000. Finally, Advisors Asset Management Inc. boosted its position in 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 buying an additional 11,414 shares during the last quarter. Institutional investors own 38.89% of the company's stock.
About Enlight Renewable Energy
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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.
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