Enlight Renewable Energy (NASDAQ:ENLT) Shares Up 3%

Enlight Renewable Energy Ltd (NASDAQ:ENLT)’s stock price shot up 3% on Tuesday . The stock traded as high as $16.62 and last traded at $16.62. 2,828 shares changed hands during trading, a decline of 94% from the average session volume of 47,137 shares. The stock had previously closed at $16.14.

Analyst Ratings Changes

Several brokerages have weighed in on ENLT. Mizuho raised their price objective on Enlight Renewable Energy from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, January 3rd. JPMorgan Chase & Co. restated a “neutral” rating and set a $16.00 price objective (down from $19.00) on shares of Enlight Renewable Energy in a research note on Monday, April 8th. Finally, Barclays lowered their target price on 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 Down 1.3 %

The company has a market capitalization of $1.91 billion, a P/E ratio of 28.93 and a beta of 1.84. 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 stock has a 50 day moving average price of $17.01 and a 200 day moving average price of $16.57.

Enlight Renewable Energy (NASDAQ:ENLT) last released its 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 business had revenue of $73.83 million for 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%. Equities research analysts forecast that Enlight Renewable Energy Ltd will post 0.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enlight Renewable Energy

Several institutional investors have recently added to or reduced their stakes in ENLT. Cubist Systematic Strategies LLC purchased a new stake in Enlight Renewable Energy during the first quarter valued at about $32,000. Legal & General Group Plc lifted its holdings in Enlight Renewable Energy by 1,250.5% during the third quarter. Legal & General Group Plc now owns 2,890 shares of the company’s stock valued at $46,000 after purchasing an additional 2,676 shares during the last quarter. Deutsche Bank AG purchased a new stake in Enlight Renewable Energy during the first quarter valued at about $106,000. Tower Research Capital LLC TRC purchased a new stake in Enlight Renewable Energy during the second quarter valued at about $130,000. Finally, Mariner LLC purchased a new stake in Enlight Renewable Energy during the third quarter valued at about $165,000. 38.89% of the stock is owned by hedge funds and other institutional investors.

About Enlight Renewable Energy

Enlight Renewable Energy Ltd operates as a renewable energy platform in Israel and internationally. The company initiates, plans, develops, constructs, and operates projects to produce electricity from renewable energy sources. It develops wind energy and solar energy projects, as well as energy storage projects.