Enlight Renewable Energy (NASDAQ:ENLT) Trading Up 3.7% - What's Next?

Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report) was up 3.7% during trading on Wednesday . The stock traded as high as $19.12 and last traded at $19.09. Approximately 4,413 shares were traded during trading, a decline of 72% from the average daily volume of 15,983 shares. The stock had previously closed at $18.40.

Analyst Ratings Changes

Several brokerages have recently weighed in on ENLT. Wolfe Research downgraded shares of Enlight Renewable Energy from an "outperform" rating to a "peer perform" rating in a research report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft started coverage on shares of Enlight Renewable Energy in a research report on Thursday, March 6th. They issued a "buy" rating and a $22.00 price objective for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Enlight Renewable Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.25.

Enlight Renewable Energy Trading Up 3.4%

The business's 50 day moving average is $16.53 and its two-hundred day moving average is $16.61. The company has a quick ratio of 0.53, a current ratio of 1.22 and a debt-to-equity ratio of 1.98. The firm has a market capitalization of $2.20 billion, a P/E ratio of 52.86 and a beta of 1.24.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.75 EPS for the quarter, beating 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 business had revenue of $129.87 million during the quarter, compared to analysts' expectations of $396.61 million. Analysts expect that Enlight Renewable Energy Ltd will post 0.41 EPS for the current year.

Institutional Investors Weigh In On Enlight Renewable Energy

Several hedge funds have recently modified their holdings of the business. Edmond DE Rothschild Holding S.A. raised 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 acquiring an additional 625 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Enlight Renewable Energy by 2.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 39,872 shares of the company's stock valued at $690,000 after buying an additional 947 shares in the last quarter. Amundi increased its stake in shares of Enlight Renewable Energy by 2.3% in the first quarter. Amundi now owns 74,681 shares of the company's stock valued at $1,160,000 after buying an additional 1,647 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Enlight Renewable Energy by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 106,057 shares of the company's stock valued at $1,829,000 after buying an additional 2,467 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Enlight Renewable Energy by 0.6% in the fourth quarter. Deutsche Bank AG now owns 425,693 shares of the company's stock valued at $7,343,000 after buying an additional 2,748 shares in the last quarter. 38.89% of the stock is owned by institutional investors.

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.

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