Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Up - What's Next?

Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $16.10, but opened at $16.61. Enlight Renewable Energy shares last traded at $16.84, with a volume of 4,817 shares traded.

Analyst Upgrades and Downgrades

ENLT has been the topic of a number of analyst reports. Roth Mkm restated a "buy" rating and issued a $20.00 price target on shares of Enlight Renewable Energy in a research note on Wednesday, August 14th. Barclays upped their price target on Enlight Renewable Energy from $20.00 to $21.00 and gave the company an "overweight" rating in a report on Friday, November 15th.

Enlight Renewable Energy Stock Up 4.6 %

The firm's 50 day simple moving average is $15.96 and its 200-day simple moving average is $16.24. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.53 and a quick ratio of 0.53. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 38.27 and a beta of 1.71.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last released its quarterly earnings results on Wednesday, November 13th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.03 by $0.09. The company had revenue of $109.50 million for the quarter, compared to analyst estimates of $83.09 million. Enlight Renewable Energy had a return on equity of 3.34% and a net margin of 13.58%. The firm's revenue was up 87.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 earnings per share. As a group, sell-side analysts anticipate that Enlight Renewable Energy Ltd will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On Enlight Renewable Energy

Several hedge funds have recently made changes to their positions in the business. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Enlight Renewable Energy by 4.2% in the third 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. Vanguard Group Inc. grew its position in Enlight Renewable Energy by 0.7% during the first quarter. Vanguard Group Inc. now owns 4,001,391 shares of the company's stock worth $67,704,000 after buying an additional 29,249 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Enlight Renewable Energy by 3.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,619,180 shares of the company's stock valued at $42,326,000 after buying an additional 76,873 shares in the last quarter. Y.D. More Investments Ltd lifted its position in shares of Enlight Renewable Energy by 94,919.7% during the 2nd quarter. Y.D. More Investments Ltd now owns 1,957,405 shares of the company's stock valued at $31,166,000 after acquiring an additional 1,955,345 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Enlight Renewable Energy by 0.9% during the 3rd 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 in the last quarter. Institutional investors and hedge funds 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.