Enlight Renewable Energy (NASDAQ:ENLT) Sees Unusually-High Trading Volume – What’s Next?

Enlight Renewable Energy Ltd (NASDAQ:ENLT) saw an uptick in trading volume on Wednesday . 22,757 shares changed hands during mid-day trading, a decline of 12% from the previous session’s volume of 25,986 shares.The stock last traded at $15.78 and had previously closed at $15.15.

Wall Street Analyst Weigh In

Separately, Roth Mkm reiterated a “buy” rating and issued a $20.00 target price on shares of Enlight Renewable Energy in a research note on Wednesday, August 14th.

Enlight Renewable Energy Stock Up 3.0 %

The company’s 50 day simple moving average is $15.86 and its 200-day simple moving average is $16.33. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market capitalization of $1.89 billion, a PE ratio of 36.49 and a beta of 1.71.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its holdings in shares of Enlight Renewable Energy by 1,181.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 14,263 shares of the company’s stock worth $241,000 after purchasing an additional 13,150 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Enlight Renewable Energy during the first quarter worth approximately $254,000. Susquehanna International Group Ltd. purchased a new position in shares of Enlight Renewable Energy during the second quarter worth approximately $253,000. Quadrature Capital Ltd bought a new stake in shares of Enlight Renewable Energy in the 1st quarter worth approximately $377,000. Finally, Swiss National Bank boosted its stake in shares of Enlight Renewable Energy by 1.3% in the 1st quarter. Swiss National Bank now owns 236,337 shares of the company’s stock valued at $3,954,000 after purchasing an additional 3,045 shares in the last quarter. 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.