Enlight Renewable Energy (NASDAQ:ENLT) Stock Price Up 3.7% - Should You Buy?

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ENLT shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Enlight Renewable Energy in a research note on Thursday, March 6th. They issued a "buy" rating and a $22.00 price target for the company. Wolfe Research downgraded Enlight Renewable Energy from an "outperform" rating to a "peer perform" rating in a research note on Thursday, February 20th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Enlight Renewable Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.25.

Enlight Renewable Energy Trading Down 0.8%

The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 54.94 and a beta of 1.24. The firm's 50-day moving average is $16.74 and its 200-day moving average is $16.69. The company has a current ratio of 1.22, a quick ratio of 0.53 and a debt-to-equity ratio of 1.98.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last posted its 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. The firm had revenue of $129.87 million for the quarter, compared to analysts' expectations of $396.61 million. Enlight Renewable Energy had a net margin of 11.09% and a return on equity of 3.03%. As a group, sell-side analysts anticipate that Enlight Renewable Energy Ltd will post 0.41 EPS for the current fiscal year.

Institutional Trading of Enlight Renewable Energy

Several hedge funds have recently added to or reduced their stakes in ENLT. Edmond DE Rothschild Holding S.A. increased its stake in shares of Enlight Renewable Energy by 51.0% during the 4th 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 during the last quarter. Russell Investments Group Ltd. purchased a new stake in Enlight Renewable Energy in the fourth quarter worth $145,000. Jane Street Group LLC purchased a new stake in Enlight Renewable Energy in the fourth quarter worth $196,000. TD Asset Management Inc bought a new stake in shares of Enlight Renewable Energy in the first quarter valued at $203,000. Finally, Advisors Asset Management Inc. raised its stake in shares of Enlight Renewable Energy by 70.7% in the first 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 period. Institutional investors own 38.89% of the company's stock.

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.