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

Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $15.16, but opened at $15.65. Enlight Renewable Energy shares last traded at $15.46, with a volume of 372 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft started coverage on Enlight Renewable Energy in a research report on Thursday, March 6th. They issued a "buy" rating and a $22.00 target price on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Enlight Renewable Energy from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Finally, Wolfe Research cut shares of Enlight Renewable Energy from an "outperform" rating to a "peer perform" rating in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Enlight Renewable Energy has a consensus rating of "Moderate Buy" and an average price target of $20.25.

Enlight Renewable Energy Stock Performance

The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.53 and a current ratio of 1.22. The company has a market capitalization of $1.75 billion, a P/E ratio of 42.00 and a beta of 1.26. The stock's fifty day moving average price is $16.35 and its 200-day moving average price is $16.32.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.17. Enlight Renewable Energy had a return on equity of 3.03% and a net margin of 11.09%. The company had revenue of $114.21 million for the quarter, compared to the consensus estimate of $289.04 million. As a group, research analysts anticipate that Enlight Renewable Energy Ltd will post 0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ENLT. Edmond DE Rothschild Holding S.A. boosted its stake in shares of Enlight Renewable Energy by 51.0% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 1,850 shares of the company's stock valued at $32,000 after buying an additional 625 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Enlight Renewable Energy during the 4th quarter worth $145,000. Jane Street Group LLC bought a new position in shares of Enlight Renewable Energy in the fourth quarter worth $196,000. Tidal Investments LLC raised its stake in Enlight Renewable Energy by 11.3% in the third quarter. Tidal Investments LLC now owns 18,241 shares of the company's stock valued at $308,000 after purchasing an additional 1,852 shares in the last quarter. Finally, Barclays PLC lifted its position in Enlight Renewable Energy by 4,278.2% during the third quarter. Barclays PLC now owns 25,525 shares of the company's stock worth $432,000 after purchasing an additional 24,942 shares during the period. Institutional investors and hedge funds own 38.89% of the company's stock.

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.