Enlight Renewable Energy (NASDAQ:ENLT) Stock Price Up 1.9% - What's Next?

Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report) traded up 1.9% during trading on Monday . The company traded as high as $15.34 and last traded at $15.34. 2,293 shares were traded during mid-day trading, a decline of 86% from the average session volume of 15,954 shares. The stock had previously closed at $15.05.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Enlight Renewable Energy in a report on Thursday, March 6th. They set 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. boosted their price objective 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 analysts have rated the stock with a hold rating and three have assigned 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 target price of $20.25.

Enlight Renewable Energy Stock Performance

The company has a fifty day moving average price of $16.47 and a two-hundred day moving average price of $16.34. The company has a market capitalization of $1.72 billion, a P/E ratio of 41.33 and a beta of 1.26. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.22 and a quick ratio of 0.53.

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

Institutional Trading of Enlight Renewable Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio bought a new position in shares of Enlight Renewable Energy in the third quarter worth $655,000. Barclays PLC lifted its stake in Enlight Renewable Energy by 4,278.2% in the third 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 lifted its position in Enlight Renewable Energy by 0.9% in the third quarter. Geode Capital Management LLC now owns 103,590 shares of the company's stock valued at $1,751,000 after purchasing an additional 907 shares during the last quarter. Tidal Investments LLC grew its holdings in Enlight Renewable Energy by 11.3% in the 3rd 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. Finally, JPMorgan Chase & Co. bought a new position in Enlight Renewable Energy during the 3rd quarter valued at approximately $4,901,000. 38.89% of the stock is owned by hedge funds and other 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.