Enlight Renewable Energy (NASDAQ:ENLT) Sees Strong Trading Volume – Here’s Why

Enlight Renewable Energy Ltd (NASDAQ:ENLT) saw unusually-strong trading volume on Monday . Approximately 47,372 shares changed hands during mid-day trading, an increase of 88% from the previous session’s volume of 25,264 shares.The stock last traded at $16.21 and had previously closed at $15.95.

Wall Street Analyst Weigh In

Separately, Barclays raised their price objective on 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 Performance

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 has a market capitalization of $1.89 billion, a PE ratio of 37.18 and a beta of 1.69. The business’s fifty day simple moving average is $16.02 and its 200-day simple moving average is $16.10.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its earnings results on Wednesday, November 13th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $109.50 million for the quarter, compared to the consensus estimate of $83.09 million. During the same quarter last year, the firm posted $0.13 EPS. The company’s revenue for the quarter was up 87.8% on a year-over-year basis. As a group, equities research analysts expect that Enlight Renewable Energy Ltd will post 0.15 EPS for the current year.

Hedge Funds Weigh In On Enlight Renewable Energy

A number of large investors have recently bought and sold shares of ENLT. Y.D. More Investments Ltd raised its stake in 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 valued at $31,166,000 after purchasing an additional 1,955,345 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd boosted 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 buying an additional 353,750 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Enlight Renewable Energy in the third quarter valued at approximately $655,000. Barclays PLC boosted its holdings in Enlight Renewable Energy by 4,278.2% during 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, Susquehanna International Group Ltd. purchased a new stake in Enlight Renewable Energy during the 2nd quarter worth approximately $253,000. Institutional investors and hedge funds 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.