Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Up – Should You Buy?

Enlight Renewable Energy Ltd (NASDAQ:ENLT) gapped up before the market opened on Thursday . The stock had previously closed at $16.69, but opened at $17.07. Enlight Renewable Energy shares last traded at $17.10, with a volume of 2,379 shares.

Analyst Upgrades and Downgrades

ENLT has been the topic of a number of research analyst reports. Barclays boosted their price objective on shares of Enlight Renewable Energy from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft initiated coverage on Enlight Renewable Energy in a report on Thursday, March 6th. They issued a “buy” rating and a $22.00 price target for the company. JPMorgan Chase & Co. upped 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. Finally, Wolfe Research downgraded shares of Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a report on Thursday, February 20th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.25.

Enlight Renewable Energy Trading Up 1.9 %

The business’s 50 day simple moving average is $16.83 and its 200-day simple moving average is $16.37. The stock has a market capitalization of $1.97 billion, a P/E ratio of 47.25 and a beta of 1.38. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.22 and a quick ratio of 0.53.

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

Institutional Trading of Enlight Renewable Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Y.D. More Investments Ltd boosted its stake in Enlight Renewable Energy by 18.6% during the 4th quarter. Y.D. More Investments Ltd now owns 3,068,179 shares of the company’s stock worth $53,043,000 after acquiring an additional 482,129 shares during the last quarter. JPMorgan Chase & Co. bought a new position in shares of Enlight Renewable Energy during the third quarter worth $4,901,000. Barclays PLC boosted its position in shares of Enlight Renewable Energy by 4,278.2% during the third quarter. Barclays PLC now owns 25,525 shares of the company’s stock worth $432,000 after purchasing an additional 24,942 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Enlight Renewable Energy in the 3rd quarter valued at $655,000. Finally, Clal Insurance Enterprises Holdings Ltd increased its position in shares of Enlight Renewable Energy by 4.2% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,771,161 shares of the company’s stock valued at $147,885,000 after buying an additional 353,750 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.