Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Up – Should You Buy?

Shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT) gapped up prior to trading on Monday . The stock had previously closed at $15.81, but opened at $16.37. Enlight Renewable Energy shares last traded at $16.37, with a volume of 2,801 shares changing hands.

Analysts Set New Price Targets

Separately, Barclays increased their price target on shares of Enlight Renewable Energy from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th.

Enlight Renewable Energy Price Performance

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 company has a 50 day moving average price of $16.02 and a 200 day moving average price of $16.06. The firm has a market cap of $1.90 billion, a PE ratio of 37.32 and a beta of 1.69.

Enlight Renewable Energy (NASDAQ:ENLT) last released its earnings results on Wednesday, November 13th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.03 by $0.09. The company had revenue of $109.50 million during the quarter, compared to analysts’ expectations of $83.09 million. Enlight Renewable Energy had a net margin of 13.58% and a return on equity of 3.34%. The business’s revenue was up 87.8% on a year-over-year basis. During the same quarter last year, the business earned $0.13 EPS. Sell-side analysts expect that Enlight Renewable Energy Ltd will post 0.15 EPS for the current fiscal year.

Institutional Trading of Enlight Renewable Energy

Several large investors have recently bought and sold shares of ENLT. Y.D. More Investments Ltd lifted its holdings in shares of 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 valued at $31,166,000 after purchasing an additional 1,955,345 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd raised its position in shares of Enlight Renewable Energy by 4.2% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,771,161 shares of the company’s stock worth $147,885,000 after purchasing an additional 353,750 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Enlight Renewable Energy in the 3rd quarter valued at approximately $655,000. Barclays PLC grew 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 buying an additional 24,942 shares during the last quarter. Finally, Susquehanna International Group Ltd. purchased a new position in Enlight Renewable Energy during the second quarter worth $253,000. Institutional investors and hedge funds own 38.89% of the company’s stock.

About Enlight Renewable Energy

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.