Enlight Renewable Energy (NASDAQ:ENLT) Sees Large Volume Increase

Enlight Renewable Energy Ltd (NASDAQ:ENLT) shares saw unusually-strong trading volume on Friday . Approximately 144,502 shares traded hands during mid-day trading, an increase of 223% from the previous session’s volume of 44,671 shares.The stock last traded at $17.53 and had previously closed at $17.34.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Barclays reduced their price target on shares of Enlight Renewable Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $16.00 target price (down from $19.00) on shares of Enlight Renewable Energy in a research report on Monday, April 8th.

Enlight Renewable Energy Trading Up 1.2 %

The business has a 50 day moving average of $16.80 and a 200 day moving average of $16.78. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 30.79 and a beta of 1.68.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.05). Enlight Renewable Energy had a net margin of 27.74% and a return on equity of 5.05%. The company had revenue of $73.83 million during the quarter, compared to the consensus estimate of $85.36 million. As a group, research analysts predict that Enlight Renewable Energy Ltd will post 0.44 earnings per share for the current fiscal year.

Institutional Trading of Enlight Renewable Energy

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Enlight Renewable Energy by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 3,889,496 shares of the company’s stock valued at $61,026,000 after purchasing an additional 79,618 shares during the period. Yelin Lapidot Holdings Management Ltd. acquired a new position in Enlight Renewable Energy during the third quarter worth $3,120,000. Clal Insurance Enterprises Holdings Ltd grew its position in Enlight Renewable Energy by 7.5% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 6,830,384 shares of the company’s stock valued at $107,302,000 after purchasing an additional 477,897 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Enlight Renewable Energy by 40.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 410,362 shares of the company’s stock worth $6,476,000 after buying an additional 117,525 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Enlight Renewable Energy during the 3rd quarter worth about $25,586,000. 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.