Enlight Renewable Energy (NASDAQ:ENLT) Trading Up 3.9% – What’s Next?

Enlight Renewable Energy Ltd (NASDAQ:ENLT)’s share price was up 3.9% during trading on Friday . The company traded as high as $16.23 and last traded at $16.93. Approximately 6,764 shares traded hands during trading, a decline of 60% from the average daily volume of 17,062 shares. The stock had previously closed at $16.29.

Analyst Upgrades and Downgrades

ENLT has been the subject of several recent research reports. Wolfe Research cut Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft initiated coverage on Enlight Renewable Energy in a research report on Thursday, March 6th. They set a “buy” rating and a $22.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price target on Enlight Renewable Energy from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.25.

Enlight Renewable Energy Price Performance

The firm has a market capitalization of $1.87 billion, a PE ratio of 44.92 and a beta of 1.38. The stock has a 50-day moving average price of $16.80 and a 200 day moving average price of $16.39. The company has a quick ratio of 0.53, a current ratio of 1.22 and a debt-to-equity ratio of 1.98.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.17. The business had revenue of $114.21 million during the quarter, compared to analysts’ expectations of $289.04 million. Enlight Renewable Energy had a return on equity of 3.03% and a net margin of 11.09%. Equities analysts forecast that Enlight Renewable Energy Ltd will post 0.41 EPS for the current fiscal year.

Institutional Trading of Enlight Renewable Energy

A number of institutional investors have recently made changes to their positions in the company. Edmond DE Rothschild Holding S.A. boosted 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 worth $32,000 after acquiring an additional 625 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Enlight Renewable Energy by 0.9% in the third quarter. Geode Capital Management LLC now owns 103,590 shares of the company’s stock worth $1,751,000 after acquiring an additional 907 shares during the last quarter. Public Employees Retirement System of Ohio boosted 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 worth $690,000 after acquiring an additional 947 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Enlight Renewable Energy by 11.3% in the third quarter. Tidal Investments LLC now owns 18,241 shares of the company’s stock worth $308,000 after acquiring an additional 1,852 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in Enlight Renewable Energy by 0.6% during the fourth quarter. Deutsche Bank AG now owns 425,693 shares of the company’s stock worth $7,343,000 after buying an additional 2,748 shares during the last quarter. 38.89% of the stock is owned by institutional investors and hedge funds.

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.