Enlight Renewable Energy (NASDAQ:ENLT) Trading Up 4%

Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report)'s share price shot up 4% on Monday . The stock traded as high as $17.08 and last traded at $17.07. 4,161 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 45,394 shares. The stock had previously closed at $16.42.

Wall Street Analyst Weigh In

Several research analysts have commented on ENLT shares. JPMorgan Chase & Co. reissued a "neutral" rating and set a $16.00 price objective (down previously from $19.00) on shares of Enlight Renewable Energy in a report on Monday, April 8th. Barclays reduced their price objective on shares of Enlight Renewable Energy from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 10th. Finally, Mizuho increased their price objective on shares of Enlight Renewable Energy from $17.00 to $19.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 3rd.

Enlight Renewable Energy Price Performance

The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market capitalization of $1.96 billion, a P/E ratio of 29.79 and a beta of 1.84. The stock's 50 day simple moving average is $16.97 and its 200 day simple moving average is $16.62.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last released its quarterly earnings data on Monday, February 26th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.05). Enlight Renewable Energy had a net margin of 27.74% and a return on equity of 5.05%. The business had revenue of $73.83 million for the quarter, compared to the consensus estimate of $85.36 million. As a group, analysts expect that Enlight Renewable Energy Ltd will post 0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enlight Renewable Energy

A number of hedge funds and other institutional investors have recently modified their holdings of ENLT. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Enlight Renewable Energy during the third quarter valued at approximately $25,586,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Enlight Renewable Energy by 12.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,192 shares of the company's stock valued at $761,000 after acquiring an additional 5,215 shares in the last quarter. Meitav Investment House Ltd. boosted its stake in Enlight Renewable Energy by 9.7% in the third quarter. Meitav Investment House Ltd. now owns 6,589,826 shares of the company's stock valued at $103,409,000 after acquiring an additional 582,537 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Enlight Renewable Energy by 171.4% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,458,907 shares of the company's stock valued at $38,580,000 after acquiring an additional 1,552,795 shares in the last quarter. Finally, Y.D. More Investments Ltd acquired a new stake in Enlight Renewable Energy in the third quarter valued at approximately $3,226,000. 38.89% of the stock is currently owned by institutional investors.

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.