Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Up to $16.24

Shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT) gapped up before the market opened on Monday . The stock had previously closed at $16.24, but opened at $16.65. Enlight Renewable Energy shares last traded at $16.55, with a volume of 1,211 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm reaffirmed a “buy” rating and set a $20.00 price objective on shares of Enlight Renewable Energy in a research note on Wednesday, August 14th.

Enlight Renewable Energy Stock Up 2.5 %

The business has a fifty day moving average of $15.97 and a 200 day moving average of $16.72. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 32.78 and a beta of 1.68. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.94 and a quick ratio of 0.94.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.07. Enlight Renewable Energy had a return on equity of 4.47% and a net margin of 23.15%. The firm had revenue of $84.70 million for the quarter, compared to the consensus estimate of $76.23 million. During the same quarter in the prior year, the company posted $0.12 earnings per share. The firm’s revenue was up 61.0% on a year-over-year basis. On average, equities analysts predict that Enlight Renewable Energy Ltd will post 0.25 earnings per share for the current year.

Institutional Investors Weigh In On Enlight Renewable Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Y.D. More Investments Ltd lifted its position in Enlight Renewable Energy by 94,919.7% in the second 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 during the period. Clal Insurance Enterprises Holdings Ltd lifted its position in Enlight Renewable Energy by 16.2% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 7,936,313 shares of the company’s stock worth $155,473,000 after purchasing an additional 1,105,929 shares during the period. Assenagon Asset Management S.A. lifted its position in Enlight Renewable Energy by 277.6% in the first quarter. Assenagon Asset Management S.A. now owns 580,673 shares of the company’s stock worth $9,752,000 after purchasing an additional 426,881 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its position in Enlight Renewable Energy by 3.4% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,542,307 shares of the company’s stock worth $43,016,000 after purchasing an additional 83,400 shares during the period. Finally, Vanguard Group Inc. lifted its position in Enlight Renewable Energy by 0.7% in the first quarter. Vanguard Group Inc. now owns 4,001,391 shares of the company’s stock worth $67,704,000 after purchasing an additional 29,249 shares during the period. 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.