Enlight Renewable Energy (NASDAQ:ENLT) Sees Unusually-High Trading Volume – Here’s What Happened

Enlight Renewable Energy Ltd (NASDAQ:ENLT) shares saw an uptick in trading volume on Tuesday . 23,651 shares were traded during trading, an increase of 131% from the previous session’s volume of 10,243 shares.The stock last traded at $16.47 and had previously closed at $16.65.

Analyst Ratings Changes

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

Enlight Renewable Energy Stock Performance

The company has a market cap of $1.90 billion, a PE ratio of 37.43 and a beta of 1.53. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.53 and a current ratio of 0.53. The firm’s 50 day moving average is $16.41 and its 200-day moving average is $16.11.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings data on Wednesday, November 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.09. Enlight Renewable Energy had a net margin of 13.58% and a return on equity of 3.34%. The firm had revenue of $109.50 million during the quarter, compared to analysts’ expectations of $83.09 million. During the same period last year, the business earned $0.13 earnings per share. Enlight Renewable Energy’s revenue was up 87.8% compared to the same quarter last year. On average, research analysts anticipate that Enlight Renewable Energy Ltd will post 0.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ENLT. Advisors Asset Management Inc. grew its holdings 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 worth $241,000 after purchasing an additional 13,150 shares during the period. Susquehanna International Group Ltd. purchased a new position in Enlight Renewable Energy during the second quarter worth about $253,000. Tidal Investments LLC increased its position in shares of Enlight Renewable Energy by 11.3% during the third quarter. Tidal Investments LLC now owns 18,241 shares of the company’s stock valued at $308,000 after acquiring an additional 1,852 shares during the last quarter. 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 acquiring an additional 24,942 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Enlight Renewable Energy in the 3rd quarter worth approximately $655,000. 38.89% of the stock is currently owned by hedge funds and other 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.