Enlight Renewable Energy (NASDAQ:ENLT) Sees Unusually-High Trading Volume – Should You Buy?

Enlight Renewable Energy Ltd (NASDAQ:ENLT) saw strong trading volume on Monday . 11,833 shares traded hands during mid-day trading, a decline of 21% from the previous session’s volume of 15,071 shares.The stock last traded at $19.13 and had previously closed at $19.05.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ENLT shares. Deutsche Bank Aktiengesellschaft initiated coverage on Enlight Renewable Energy in a report on Thursday, March 6th. They issued a “buy” rating and a $22.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on Enlight Renewable Energy from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Finally, Wolfe Research downgraded Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a report on Thursday, February 20th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.25.

Enlight Renewable Energy Trading Down 1.2%

The stock has a market cap of $2.18 billion, a P/E ratio of 52.28 and a beta of 1.24. The business’s 50 day simple moving average is $16.38 and its two-hundred day simple moving average is $16.50. The company has a quick ratio of 0.53, a current ratio of 1.22 and a debt-to-equity ratio of 1.98.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.24. Enlight Renewable Energy had a net margin of 11.09% and a return on equity of 3.03%. The business had revenue of $129.87 million during the quarter, compared to the consensus estimate of $396.61 million. As a group, analysts expect that Enlight Renewable Energy Ltd will post 0.41 EPS for the current year.

Institutional Trading of Enlight Renewable Energy

A number of institutional investors and hedge funds have recently bought and sold shares of ENLT. Edmond DE Rothschild Holding S.A. grew its holdings in Enlight Renewable Energy by 51.0% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 1,850 shares of the company’s stock valued at $32,000 after buying an additional 625 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Enlight Renewable Energy during the fourth quarter worth about $145,000. Jane Street Group LLC acquired a new stake in shares of Enlight Renewable Energy during the 4th quarter valued at approximately $196,000. TD Asset Management Inc purchased a new stake in shares of Enlight Renewable Energy during the 1st quarter valued at $203,000. Finally, Barclays PLC raised its stake in shares of Enlight Renewable Energy by 4,278.2% in the 3rd quarter. Barclays PLC now owns 25,525 shares of the company’s stock valued at $432,000 after purchasing an additional 24,942 shares in the last quarter. 38.89% of the stock is currently 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.