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

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) saw unusually-high trading volume on Monday . 199,842 shares were traded during mid-day trading, an increase of 10% from the previous session’s volume of 181,423 shares.The stock last traded at $84.8250 and had previously closed at $86.44.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ENLT shares. Wall Street Zen raised shares of Enlight Renewable Energy from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Deutsche Bank Aktiengesellschaft set a $65.00 price objective on shares of Enlight Renewable Energy and gave the stock a “hold” rating in a research note on Thursday, April 9th. JPMorgan Chase & Co. boosted their target price on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a report on Wednesday, May 6th. Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. Finally, UBS Group lifted their price target on Enlight Renewable Energy from $105.00 to $123.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Enlight Renewable Energy presently has a consensus rating of “Hold” and an average target price of $63.17.

Enlight Renewable Energy Price Performance

The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.68. The firm’s 50 day simple moving average is $91.01 and its 200 day simple moving average is $71.38. The company has a market capitalization of $10.19 billion, a PE ratio of 199.80, a price-to-earnings-growth ratio of 31.32 and a beta of 1.56.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share for the quarter. The business had revenue of $156.49 million for the quarter. Enlight Renewable Energy had a net margin of 9.47% and a return on equity of 2.48%. As a group, research analysts anticipate that Enlight Renewable Energy Ltd. will post 0.29 EPS for the current fiscal year.

Insider Activity at Enlight Renewable Energy

In related news, VP Israeli Ayelet Cohen sold 10,123 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $108.50, for a total value of $1,098,345.50. Following the sale, the vice president directly owned 20,974 shares of the company’s stock, valued at $2,275,679. This represents a 32.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Gilad Yavetz sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $91.78, for a total transaction of $9,178,000.00. Following the completion of the sale, the chairman directly owned 846,436 shares of the company’s stock, valued at approximately $77,685,896.08. The trade was a 10.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 313,597 shares of company stock worth $29,830,515 in the last three months.

Institutional Investors Weigh In On Enlight Renewable Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Wyoming purchased a new stake in Enlight Renewable Energy in the 1st quarter valued at about $41,000. BNP Paribas Financial Markets grew its stake in Enlight Renewable Energy by 256.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock worth $28,000 after acquiring an additional 881 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Enlight Renewable Energy during the fourth quarter worth approximately $56,000. Walleye Capital LLC bought a new stake in shares of Enlight Renewable Energy during the first quarter valued at approximately $240,000. Finally, Savant Capital LLC purchased a new stake in shares of Enlight Renewable Energy in the fourth quarter valued at approximately $241,000. Institutional investors own 38.89% of the company’s stock.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) is an independent power producer specializing in the development, financing, construction and operation of renewable energy assets. The company’s portfolio encompasses utility-scale solar photovoltaic (PV) farms, onshore wind farms and energy storage facilities. By providing end-to-end project management—from site identification and feasibility studies through engineering procurement and construction (EPC) to long-term operations and maintenance—Enlight seeks to deliver reliable clean power under long-term power purchase agreements (PPAs).

Founded in 2008 and headquartered in Tel Aviv, Enlight has pursued an international growth strategy with operational and development projects in Israel and Western Europe.