Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Up – Still a Buy?

Shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT) gapped up before the market opened on Friday . The stock had previously closed at $16.10, but opened at $16.61. Enlight Renewable Energy shares last traded at $16.84, with a volume of 4,817 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ENLT shares. Roth Mkm restated a “buy” rating and issued a $20.00 price target on shares of Enlight Renewable Energy in a research report on Wednesday, August 14th. Barclays raised their target price on shares of Enlight Renewable Energy from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, November 15th.

Enlight Renewable Energy Trading Up 4.6 %

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 firm has a market capitalization of $1.95 billion, a P/E ratio of 36.59 and a beta of 1.71. The business’s 50-day moving average is $15.94 and its 200 day moving average is $16.27.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings results 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. The firm 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%. The company’s revenue was up 87.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.13 EPS. As a group, analysts anticipate that Enlight Renewable Energy Ltd will post 0.15 EPS for the current fiscal year.

Institutional Trading of Enlight Renewable Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of ENLT. Advisors Asset Management Inc. boosted its holdings in shares of 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 buying an additional 13,150 shares during the last quarter. Susquehanna International Group Ltd. purchased a new stake in Enlight Renewable Energy during the second quarter valued at about $253,000. Tidal Investments LLC purchased a new stake in Enlight Renewable Energy during the first quarter valued at about $254,000. Quadrature Capital Ltd purchased a new stake in Enlight Renewable Energy during the first quarter valued at about $377,000. Finally, Barclays PLC increased its position 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 valued at $432,000 after buying an additional 24,942 shares during the period. 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.