Enlight Renewable Energy (NASDAQ:ENLT) Trading Up 3.5% - Still a Buy?

Shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report) rose 3.5% during trading on Friday . The stock traded as high as $18.75 and last traded at $19.35. Approximately 11,672 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 16,783 shares. The stock had previously closed at $18.69.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wolfe Research downgraded shares of 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 Enlight Renewable Energy in a report on Thursday, March 6th. They set a "buy" rating and a $22.00 price target for the company. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.25.

Enlight Renewable Energy Stock Performance

The business's fifty day moving average price is $17.49 and its two-hundred day moving average price is $16.92. 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 stock has a market capitalization of $2.30 billion, a P/E ratio of 55.22 and a beta of 1.41.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.75 EPS for the quarter, topping the consensus estimate 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 company had revenue of $129.87 million during the quarter, compared to analyst estimates of $396.61 million. As a group, sell-side analysts forecast that Enlight Renewable Energy Ltd will post 0.41 earnings per share for the current year.

Institutional Trading of Enlight Renewable Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Edmond DE Rothschild Holding S.A. boosted its stake 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 worth $32,000 after buying an additional 625 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Enlight Renewable Energy in the 4th quarter worth about $145,000. Jane Street Group LLC purchased a new position in shares of Enlight Renewable Energy during the 4th quarter worth about $196,000. TD Asset Management Inc bought a new position in Enlight Renewable Energy during the 1st quarter valued at about $203,000. Finally, Advisors Asset Management Inc. lifted its stake in 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. Hedge funds and other institutional investors 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.