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

Enlight Renewable Energy Ltd (NASDAQ:ENLT)’s stock price was up 8.3% during mid-day trading on Thursday . The stock traded as high as $17.41 and last traded at $17.32. Approximately 21,491 shares changed hands during trading, a decline of 50% from the average daily volume of 43,207 shares. The stock had previously closed at $16.00.

Analysts Set New Price Targets

Several research analysts have issued reports on ENLT shares. Mizuho upped their price objective on Enlight Renewable Energy from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday, January 3rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $16.00 price objective (down previously from $19.00) on shares of Enlight Renewable Energy in a report on Monday, April 8th. Finally, Barclays reduced their price objective on Enlight Renewable Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th.

Enlight Renewable Energy Stock Performance

The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.63. The stock has a 50 day moving average price of $16.79 and a two-hundred day moving average price of $16.74. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 29.88 and a beta of 1.68.

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

Hedge Funds Weigh In On Enlight Renewable Energy

Large investors have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC acquired a new stake in Enlight Renewable Energy in the 4th quarter valued at about $217,000. Capstone Investment Advisors LLC lifted its position in Enlight Renewable Energy by 9.0% during the first quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the company’s stock worth $369,000 after acquiring an additional 1,800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Enlight Renewable Energy by 12.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,192 shares of the company’s stock worth $761,000 after acquiring an additional 5,215 shares during the last quarter. Yelin Lapidot Holdings Management Ltd. acquired a new stake in Enlight Renewable Energy during the third quarter worth approximately $3,120,000. Finally, Y.D. More Investments Ltd acquired a new stake in Enlight Renewable Energy during the third quarter worth approximately $3,226,000. 38.89% of the stock is currently owned by institutional investors and hedge funds.

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.