Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Up – Here’s What Happened

Enlight Renewable Energy Ltd (NASDAQ:ENLT) gapped up prior to trading on Wednesday . The stock had previously closed at $15.81, but opened at $16.36. Enlight Renewable Energy shares last traded at $16.29, with a volume of 3,179 shares.

Analyst Upgrades and Downgrades

ENLT has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price target on Enlight Renewable Energy from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Barclays increased their price target on shares of 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 Trading Up 1.7 %

The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.64. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 37.18 and a beta of 1.53. The company has a fifty day moving average price of $16.59 and a 200-day moving average price of $16.19.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings data on Wednesday, November 13th. The company reported $0.12 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $83.09 million. During the same quarter in the prior year, the firm posted $0.13 EPS. The business’s quarterly revenue was up 87.8% compared to the same quarter last year. As a group, research analysts expect that Enlight Renewable Energy Ltd will post 0.07 EPS for the current year.

Institutional Investors Weigh In On Enlight Renewable Energy

Hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. raised its holdings in Enlight Renewable Energy by 1,181.5% in 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. Tidal Investments LLC raised its position in Enlight Renewable Energy by 11.3% during the third quarter. Tidal Investments LLC now owns 18,241 shares of the company’s stock worth $308,000 after acquiring an additional 1,852 shares during the period. Barclays PLC lifted its holdings in Enlight Renewable Energy by 4,278.2% during the third 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. Public Employees Retirement System of Ohio purchased a new stake in shares of Enlight Renewable Energy during the third quarter worth about $655,000. Finally, Geode Capital Management LLC raised its position in shares of Enlight Renewable Energy by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 103,590 shares of the company’s stock worth $1,751,000 after purchasing an additional 907 shares during the last quarter. 38.89% of the stock is 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.