Enlight Renewable Energy (NASDAQ:ENLT) Trading Up 8.3%

Shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT) shot up 8.3% during trading on Thursday . The company traded as high as $17.41 and last traded at $17.32. 21,491 shares changed hands during trading, a decline of 50% from the average session volume of 43,207 shares. The stock had previously closed at $16.00.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ENLT. JPMorgan Chase & Co. restated a “neutral” rating and set a $16.00 price target (down from $19.00) on shares of Enlight Renewable Energy in a research note on Monday, April 8th. Mizuho upped their price target on shares of Enlight Renewable Energy from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, January 3rd. Finally, Barclays lowered their target price on shares of Enlight Renewable Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th.

Enlight Renewable Energy Stock Up 7.1 %

The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market capitalization of $1.98 billion, a PE ratio of 29.88 and a beta of 1.68. The company’s 50 day simple moving average is $16.79 and its 200-day simple moving average is $16.74.

Enlight Renewable Energy (NASDAQ:ENLT) last issued 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). The company had revenue of $73.83 million during the quarter, compared to the consensus estimate of $85.36 million. Enlight Renewable Energy had a return on equity of 5.05% and a net margin of 27.74%. On average, analysts forecast that Enlight Renewable Energy Ltd will post 0.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Enlight Renewable Energy

A number of institutional investors have recently made changes to their positions in the stock. Capstone Investment Advisors LLC increased its holdings in shares of Enlight Renewable Energy by 9.0% in the 1st quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the company’s stock worth $369,000 after buying an additional 1,800 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Enlight Renewable Energy by 1.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 422,381 shares of the company’s stock worth $6,560,000 after buying an additional 4,415 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Enlight Renewable Energy by 12.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,192 shares of the company’s stock worth $761,000 after buying an additional 5,215 shares during the last quarter. Swiss National Bank increased its holdings in shares of Enlight Renewable Energy by 3.6% in the 3rd quarter. Swiss National Bank now owns 260,411 shares of the company’s stock worth $4,098,000 after buying an additional 9,069 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Enlight Renewable Energy in the 4th quarter worth $217,000. 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.