Enlight Renewable Energy (NASDAQ:ENLT) Sees Strong Trading Volume – Still a Buy?

Shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT) saw strong trading volume on Tuesday . 14,427 shares traded hands during trading, a decline of 9% from the previous session’s volume of 15,939 shares.The stock last traded at $15.46 and had previously closed at $15.05.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ENLT shares. Deutsche Bank Aktiengesellschaft began coverage on Enlight Renewable Energy in a report on Thursday, March 6th. They set a “buy” rating and a $22.00 price target on the stock. Wolfe Research downgraded shares of Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. upped their price target 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 given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

Enlight Renewable Energy Price Performance

The company has a quick ratio of 0.53, a current ratio of 1.22 and a debt-to-equity ratio of 1.98. The stock’s 50-day moving average is $16.60 and its 200-day moving average is $16.39. The firm has a market cap of $1.79 billion, a P/E ratio of 42.92 and a beta of 1.26.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.17. Enlight Renewable Energy had a return on equity of 3.03% and a net margin of 11.09%. The company had revenue of $114.21 million during the quarter, compared to the consensus estimate of $289.04 million. As a group, equities analysts anticipate that Enlight Renewable Energy Ltd will post 0.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Enlight Renewable Energy

Several institutional investors and hedge funds have recently bought and sold shares of the business. Edmond DE Rothschild Holding S.A. increased its stake in Enlight Renewable Energy by 51.0% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 1,850 shares of the company’s stock valued at $32,000 after acquiring an additional 625 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Enlight Renewable Energy in the 4th quarter valued at approximately $145,000. Jane Street Group LLC acquired a new position in shares of Enlight Renewable Energy in the 4th quarter worth approximately $196,000. Tidal Investments LLC lifted its position 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 worth $308,000 after buying an additional 1,852 shares during the period. Finally, Barclays PLC boosted its stake in shares of Enlight Renewable Energy by 4,278.2% in the 3rd quarter. Barclays PLC now owns 25,525 shares of the company’s stock valued at $432,000 after purchasing an additional 24,942 shares in the last quarter. Institutional investors 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.