Enlight Renewable Energy (NASDAQ:ENLT) Sees Unusually-High Trading Volume - Here's Why

Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report) shares saw an uptick in trading volume on Tuesday . 18,084 shares traded hands 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.

Wall Street Analysts Forecast Growth

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

Enlight Renewable Energy Stock Down 3.1 %

The company has a debt-to-equity ratio of 1.98, a current ratio of 1.22 and a quick ratio of 0.53. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 41.81 and a beta of 1.26. The firm's 50-day simple moving average is $16.62 and its two-hundred day simple moving average is $16.39.

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Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, topping 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 net margin of 11.09% and a return on equity of 3.03%. Sell-side analysts predict that Enlight Renewable Energy Ltd will post 0.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Enlight Renewable Energy

Hedge funds have recently made changes to their positions in the business. Edmond DE Rothschild Holding S.A. boosted its holdings in shares of Enlight Renewable Energy by 51.0% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 1,850 shares of the company's stock valued at $32,000 after purchasing an additional 625 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Enlight Renewable Energy in the 4th quarter valued at about $145,000. Jane Street Group LLC purchased a new stake in shares of Enlight Renewable Energy during the 4th quarter worth about $196,000. Tidal Investments LLC raised its stake in shares of Enlight Renewable Energy by 11.3% in the 3rd 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 period. Finally, Barclays PLC boosted its position in Enlight Renewable Energy by 4,278.2% during 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 period. Institutional investors and hedge funds own 38.89% of the company's stock.

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.