Enlight Renewable Energy (NASDAQ:ENLT) Sees Large Volume Increase - What's Next?

Shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 4,261 shares changed hands during trading, an increase of 31% from the previous session's volume of 3,263 shares.The stock last traded at $17.01 and had previously closed at $17.33.

Analyst Upgrades and Downgrades

Separately, Barclays raised their price objective on Enlight Renewable Energy from $20.00 to $21.00 and gave the company an "overweight" rating in a research note on Friday, November 15th.

Enlight Renewable Energy Price Performance

The business has a 50 day simple moving average of $16.28 and a two-hundred day simple moving average of $16.09. The firm has a market capitalization of $2.01 billion, a P/E ratio of 39.61 and a beta of 1.70. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.53 and a current ratio of 0.53.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last announced its quarterly earnings data on Wednesday, November 13th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.09. Enlight Renewable Energy had a net margin of 13.58% and a return on equity of 3.34%. The company had revenue of $109.50 million during the quarter, compared to analysts' expectations of $83.09 million. During the same quarter in the prior year, the company earned $0.13 EPS. The firm's revenue was up 87.8% on a year-over-year basis. On average, sell-side analysts expect that Enlight Renewable Energy Ltd will post 0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. bought a new position in shares of Enlight Renewable Energy during the third quarter valued at approximately $4,901,000. Tidal Investments LLC grew 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. Barclays PLC raised its position in shares of Enlight Renewable Energy by 4,278.2% in the 3rd quarter. Barclays PLC now owns 25,525 shares of the company's stock worth $432,000 after purchasing an additional 24,942 shares during the last quarter. Geode Capital Management LLC boosted its stake in Enlight Renewable Energy by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 103,590 shares of the company's stock worth $1,751,000 after purchasing an additional 907 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Enlight Renewable Energy during the 3rd quarter valued at about $655,000. Hedge funds and other institutional investors 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.