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

Enlight Renewable Energy Ltd (NASDAQ:ENLT) saw unusually-high trading volume on Friday . Approximately 4,261 shares changed hands during mid-day 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.

Wall Street Analyst Weigh In

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

Enlight Renewable Energy Stock Up 0.6 %

The company has a debt-to-equity ratio of 1.64, a current ratio of 0.53 and a quick ratio of 0.53. The company has a fifty day moving average price of $16.28 and a 200 day moving average price of $16.09. The company has a market cap of $2.01 billion, a PE ratio of 39.61 and a beta of 1.53.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its earnings results on Wednesday, November 13th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.09. The business had revenue of $109.50 million during the quarter, compared to analyst estimates of $83.09 million. Enlight Renewable Energy had a net margin of 13.58% and a return on equity of 3.34%. Enlight Renewable Energy’s revenue for the quarter was up 87.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.13 earnings per share. As a group, analysts anticipate that Enlight Renewable Energy Ltd will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ENLT. Y.D. More Investments Ltd boosted its holdings in shares of Enlight Renewable Energy by 94,919.7% in the 2nd quarter. Y.D. More Investments Ltd now owns 1,957,405 shares of the company’s stock worth $31,166,000 after purchasing an additional 1,955,345 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its position in Enlight Renewable Energy by 4.2% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,771,161 shares of the company’s stock worth $147,885,000 after buying an additional 353,750 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in Enlight Renewable Energy in the third quarter worth approximately $4,901,000. Public Employees Retirement System of Ohio bought a new position in Enlight Renewable Energy during the third quarter valued at approximately $655,000. Finally, Barclays PLC raised its stake in shares of Enlight Renewable Energy by 4,278.2% during the third quarter. Barclays PLC now owns 25,525 shares of the company’s stock worth $432,000 after acquiring an additional 24,942 shares in the last quarter. Institutional investors own 38.89% of the company’s stock.

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.