Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Up - Still a Buy?

Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $15.81, but opened at $16.37. Enlight Renewable Energy shares last traded at $16.37, with a volume of 2,801 shares traded.

Wall Street Analysts Forecast Growth

Separately, Barclays upped their price target 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.

Enlight Renewable Energy Stock Performance

The stock's 50 day moving average price is $16.03 and its 200 day moving average price is $16.06. The company has a market capitalization of $1.90 billion, a P/E ratio of 37.27 and a beta of 1.69. 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 issued its quarterly earnings results on Wednesday, November 13th. The company reported $0.12 EPS for the quarter, topping 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 firm had revenue of $109.50 million for the quarter, compared to analyst estimates of $83.09 million. During the same quarter in the prior year, the firm earned $0.13 EPS. The business's revenue for the quarter was up 87.8% compared to the same quarter last year. As a group, equities analysts expect that Enlight Renewable Energy Ltd will post 0.15 EPS for the current year.

Hedge Funds Weigh In On Enlight Renewable Energy

Institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. boosted its stake in Enlight Renewable Energy by 1,181.5% in the third quarter. Advisors Asset Management Inc. now owns 14,263 shares of the company's stock worth $241,000 after buying an additional 13,150 shares in the last quarter. Susquehanna International Group Ltd. purchased a new stake in shares of Enlight Renewable Energy in the 2nd quarter valued at $253,000. Tidal Investments LLC grew its holdings in shares of Enlight Renewable Energy by 11.3% during the 3rd quarter. Tidal Investments LLC now owns 18,241 shares of the company's stock valued at $308,000 after purchasing an additional 1,852 shares during the last quarter. Barclays PLC raised its position in 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 period. Finally, Public Employees Retirement System of Ohio bought a new stake in Enlight Renewable Energy in the third quarter worth $655,000. 38.89% of the stock is currently 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.