Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Up – What’s Next?

Shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT) gapped up before the market opened on Wednesday . The stock had previously closed at $15.16, but opened at $15.65. Enlight Renewable Energy shares last traded at $15.46, with a volume of 372 shares changing hands.

Analyst Ratings Changes

ENLT has been the topic of several research reports. Deutsche Bank Aktiengesellschaft started coverage on Enlight Renewable Energy in a research report on Thursday, March 6th. They issued a “buy” rating and a $22.00 price objective on the stock. Wolfe Research downgraded Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. lifted their target price on Enlight Renewable Energy from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Enlight Renewable Energy currently has an average rating of “Moderate Buy” and an average target price of $20.25.

Enlight Renewable Energy Trading Up 1.9 %

The company has a current ratio of 1.22, a quick ratio of 0.53 and a debt-to-equity ratio of 1.98. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 42.93 and a beta of 1.26. The company has a fifty day simple moving average of $16.41 and a 200-day simple moving average of $16.33.

Enlight Renewable Energy (NASDAQ:ENLT) last released its earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.17. The company had revenue of $114.21 million during the quarter, compared to the consensus estimate of $289.04 million. Enlight Renewable Energy had a net margin of 11.09% and a return on equity of 3.03%. On average, research 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

Large investors have recently modified their holdings of the company. Edmond DE Rothschild Holding S.A. increased its position in Enlight Renewable Energy by 51.0% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 1,850 shares of the company’s stock worth $32,000 after acquiring an additional 625 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Enlight Renewable Energy during the 4th quarter worth approximately $145,000. Jane Street Group LLC bought a new stake in shares of Enlight Renewable Energy during the fourth quarter valued at approximately $196,000. Tidal Investments LLC boosted its stake in Enlight Renewable Energy by 11.3% during the third quarter. Tidal Investments LLC now owns 18,241 shares of the company’s stock worth $308,000 after buying an additional 1,852 shares in the last quarter. Finally, Barclays PLC raised 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 buying an additional 24,942 shares in the last quarter. 38.89% of the stock is 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.