Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Up – Still a Buy?

Enlight Renewable Energy Ltd (NASDAQ:ENLT)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $14.93, but opened at $15.31. Enlight Renewable Energy shares last traded at $15.28, with a volume of 11,286 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reissued a “buy” rating and issued a $20.00 price target on shares of Enlight Renewable Energy in a report on Wednesday, August 14th.

Enlight Renewable Energy Trading Up 1.0 %

The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 33.18 and a beta of 1.71. The company has a 50 day moving average price of $15.88 and a two-hundred day moving average price of $16.34.

Hedge Funds Weigh In On Enlight Renewable Energy

Several hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. raised its position in shares of Enlight Renewable Energy by 1,181.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 14,263 shares of the company’s stock worth $241,000 after acquiring an additional 13,150 shares in the last quarter. Susquehanna International Group Ltd. acquired a new stake in shares of Enlight Renewable Energy during the 2nd quarter worth about $253,000. Tidal Investments LLC acquired a new stake in shares of Enlight Renewable Energy during the 1st quarter worth about $254,000. Quadrature Capital Ltd acquired a new stake in shares of Enlight Renewable Energy during the 1st quarter worth about $377,000. Finally, Swiss National Bank raised its position in shares of Enlight Renewable Energy by 1.3% during the 1st quarter. Swiss National Bank now owns 236,337 shares of the company’s stock worth $3,954,000 after acquiring an additional 3,045 shares in the last quarter. Institutional investors and hedge funds 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.