Enlight Renewable Energy (NASDAQ:ENLT) Stock Price Up 3.5% - Here's What Happened

Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report)'s share price was up 3.5% during trading on Friday . The company traded as high as $18.75 and last traded at $19.35. Approximately 11,672 shares were traded during trading, a decline of 30% from the average daily volume of 16,783 shares. The stock had previously closed at $18.69.

Wall Street Analyst Weigh In

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

Enlight Renewable Energy Price 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 firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 52.03 and a beta of 1.41. The business has a fifty day moving average of $17.49 and a two-hundred day moving average of $16.91.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last posted its earnings results 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 business 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 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. grew 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 acquiring an additional 625 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Enlight Renewable Energy in the 4th quarter valued at about $145,000. Jane Street Group LLC acquired a new position in shares of Enlight Renewable Energy during the 4th quarter worth approximately $196,000. TD Asset Management Inc bought a new position in shares of Enlight Renewable Energy during the first quarter worth approximately $203,000. Finally, Advisors Asset Management Inc. increased its holdings in shares of Enlight Renewable Energy by 70.7% during 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 period. 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.