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

Enlight Renewable Energy Ltd (NASDAQ:ENLT) shares saw an uptick in trading volume on Friday . 4,261 shares changed hands during trading, an increase of 31% from the previous session’s volume of 3,263 shares.The stock last traded at $17.01 and had previously closed at $17.33.

Analysts Set New Price Targets

Separately, Barclays lifted their target price on Enlight Renewable Energy from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th.

Enlight Renewable Energy Stock Performance

The company’s fifty day simple moving average is $16.25 and its two-hundred day simple moving average is $16.08. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 39.64 and a beta of 1.70. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.53 and a current ratio of 0.53.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings results on Wednesday, November 13th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. Enlight Renewable Energy had a return on equity of 3.34% and a net margin of 13.58%. The business had revenue of $109.50 million during the quarter, compared to the consensus estimate of $83.09 million. During the same period last year, the firm earned $0.13 earnings per share. The company’s revenue for the quarter was up 87.8% compared to the same quarter last year. Equities research analysts predict that Enlight Renewable Energy Ltd will post 0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enlight Renewable Energy

Large investors have recently added to or reduced their stakes in the company. Y.D. More Investments Ltd increased its stake in Enlight Renewable Energy by 94,919.7% during the second quarter. Y.D. More Investments Ltd now owns 1,957,405 shares of the company’s stock valued at $31,166,000 after purchasing an additional 1,955,345 shares during the last quarter. Susquehanna International Group Ltd. acquired a new position in shares of Enlight Renewable Energy in the 2nd quarter valued at about $253,000. Advisors Asset Management Inc. grew its position in shares of Enlight Renewable Energy by 1,181.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 14,263 shares of the company’s stock valued at $241,000 after buying an additional 13,150 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd raised its stake in Enlight Renewable Energy by 4.2% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,771,161 shares of the company’s stock worth $147,885,000 after acquiring an additional 353,750 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in Enlight Renewable Energy in the third quarter worth about $655,000. 38.89% of the stock is currently owned by institutional investors.

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.