Ellomay Capital (NYSEAMERICAN:ELLO) Share Price Passes Above 50-Day Moving Average – Here’s Why

Ellomay Capital Ltd. (NYSEAMERICAN:ELLO) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $19.39 and traded as high as $20.30. Ellomay Capital shares last traded at $19.71, with a volume of 3,202 shares changing hands.

Ellomay Capital Stock Performance

The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 2.39. The company has a market cap of $279.05 million, a PE ratio of 4.03 and a beta of 0.98. The firm’s fifty day moving average is $19.40 and its 200 day moving average is $22.75.

Ellomay Capital (NYSEAMERICAN:ELLO) last announced its quarterly earnings data on Tuesday, August 18th. The utilities provider reported $5.99 earnings per share for the quarter. The company had revenue of $14.17 million for the quarter. Ellomay Capital had a negative return on equity of 12.99% and a net margin of 136.55%.

Hedge Funds Weigh In On Ellomay Capital

A hedge fund recently raised its position in Ellomay Capital stock. JPMorgan Chase & Co. grew its position in Ellomay Capital Ltd. (NYSEAMERICAN:ELLO) by 39.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,601 shares of the utilities provider’s stock after buying an additional 1,021 shares during the quarter. JPMorgan Chase & Co.’s holdings in Ellomay Capital were worth $65,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 27.54% of the company’s stock.

Ellomay Capital Company Profile

Ellomay Capital Ltd. is an Israel-based investment company specializing in the acquisition, financing, development and operation of renewable energy and related infrastructure assets. Founded in 2014 and traded on the NYSE American under the ticker ELLO, Ellomay focuses on building a diversified portfolio of solar photovoltaic (PV) projects and specialty infrastructure businesses that generate stable, long-term cash flows under government-backed tariffs and concession agreements.

The company’s core activities center on ground-mounted solar PV installations in Italy, where its operating portfolio comprises multiple medium-sized projects secured under feed-in-tariff regimes.