Enlight Renewable Energy (NASDAQ:ENLT) Trading Up 3.8%

Enlight Renewable Energy Ltd (NASDAQ:ENLT) rose 3.8% on Wednesday . The company traded as high as $15.73 and last traded at $15.73. Approximately 1,687 shares changed hands during trading, a decline of 94% from the average daily volume of 30,070 shares. The stock had previously closed at $15.15.

Analyst Ratings Changes

Separately, Roth Mkm reaffirmed 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 Price Performance

The firm has a fifty day moving average of $16.08 and a two-hundred day moving average of $16.61. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $1.82 billion, a PE ratio of 29.71 and a beta of 1.68.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its earnings results on Wednesday, August 7th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.07. Enlight Renewable Energy had a net margin of 18.61% and a return on equity of 3.97%. The firm had revenue of $84.70 million for the quarter, compared to analysts’ expectations of $76.23 million. During the same quarter last year, the business earned $0.12 earnings per share. The business’s revenue was up 61.0% on a year-over-year basis. Research analysts anticipate that Enlight Renewable Energy Ltd will post 0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Enlight Renewable Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC bought a new position in Enlight Renewable Energy during the 4th quarter valued at approximately $217,000. Susquehanna International Group Ltd. bought a new position in shares of Enlight Renewable Energy during the second quarter valued at approximately $253,000. Tidal Investments LLC purchased a new stake in Enlight Renewable Energy in the first quarter worth $254,000. Capstone Investment Advisors LLC boosted its holdings in Enlight Renewable Energy by 9.0% in the first quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the company’s stock valued at $369,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Enlight Renewable Energy during the 1st quarter valued at $377,000. 38.89% of the stock is owned by institutional investors.

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.