Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Up – Time to Buy?

Enlight Renewable Energy Ltd (NASDAQ:ENLT) gapped up before the market opened on Wednesday . The stock had previously closed at $15.16, but opened at $15.65. Enlight Renewable Energy shares last traded at $15.46, with a volume of 372 shares.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ENLT shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Enlight Renewable Energy in a research report on Thursday, March 6th. They set a “buy” rating and a $22.00 target price on the stock. Wolfe Research cut Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. upped their target price on Enlight Renewable Energy from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.25.

Enlight Renewable Energy Trading Up 2.0 %

The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.53 and a current ratio of 1.22. The company has a market capitalization of $1.80 billion, a PE ratio of 43.36 and a beta of 1.26. The business has a fifty day moving average price of $16.37 and a 200 day moving average price of $16.32.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.17. Enlight Renewable Energy had a net margin of 11.09% and a return on equity of 3.03%. The business had revenue of $114.21 million for the quarter, compared to the consensus estimate of $289.04 million. Analysts expect that Enlight Renewable Energy Ltd will post 0.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Enlight Renewable Energy

A number of large investors have recently modified their holdings of the stock. Y.D. More Investments Ltd lifted its position in Enlight Renewable Energy by 18.6% during the 4th quarter. Y.D. More Investments Ltd now owns 3,068,179 shares of the company’s stock worth $53,043,000 after acquiring an additional 482,129 shares in the last quarter. Phoenix Financial Ltd. lifted its position in shares of Enlight Renewable Energy by 42.2% during the fourth quarter. Phoenix Financial Ltd. now owns 1,254,495 shares of the company’s stock worth $21,634,000 after purchasing an additional 372,403 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Enlight Renewable Energy in the third quarter valued at $4,901,000. Meitav Investment House Ltd. grew its holdings in Enlight Renewable Energy by 4.0% during the 4th quarter. Meitav Investment House Ltd. now owns 5,901,179 shares of the company’s stock valued at $101,910,000 after purchasing an additional 229,255 shares in the last quarter. Finally, Norges Bank purchased a new stake in Enlight Renewable Energy during the 4th quarter worth $3,631,000. 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.