Enlight Renewable Energy (NASDAQ:ENLT) Sees Large Volume Increase – Time to Buy?

Enlight Renewable Energy Ltd (NASDAQ:ENLT) saw unusually-high trading volume on Tuesday . Approximately 18,084 shares were traded during mid-day trading, an increase of 9% from the previous session’s volume of 16,563 shares.The stock last traded at $16.13 and had previously closed at $15.70.

Analyst Ratings Changes

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

Enlight Renewable Energy Trading Down 0.3 %

The company has a quick ratio of 0.53, a current ratio of 1.22 and a debt-to-equity ratio of 1.98. The firm’s fifty day moving average is $16.66 and its two-hundred day moving average is $16.39. The firm has a market cap of $1.87 billion, a P/E ratio of 44.89 and a beta of 1.38.

Enlight Renewable Energy (NASDAQ:ENLT) last released its earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.17. The company 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%. Analysts predict that Enlight Renewable Energy Ltd will post 0.41 earnings per share for the current fiscal year.

Institutional Trading of Enlight Renewable Energy

Hedge funds have recently made changes to their positions in the stock. Edmond DE Rothschild Holding S.A. raised its holdings in 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 buying an additional 625 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Enlight Renewable Energy in the 4th quarter worth $145,000. Jane Street Group LLC bought a new stake in shares of Enlight Renewable Energy in the fourth quarter worth $196,000. Tidal Investments LLC increased its position in Enlight Renewable Energy by 11.3% during the third quarter. Tidal Investments LLC now owns 18,241 shares of the company’s stock valued at $308,000 after acquiring an additional 1,852 shares during the last quarter. Finally, Barclays PLC increased its position in Enlight Renewable Energy by 4,278.2% during the third quarter. Barclays PLC now owns 25,525 shares of the company’s stock valued at $432,000 after acquiring an additional 24,942 shares during the last quarter. 38.89% of the stock is 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.