Enlight Renewable Energy (NASDAQ:ENLT) Sees Unusually-High Trading Volume – What’s Next?

Enlight Renewable Energy Ltd (NASDAQ:ENLT) shares saw an uptick in trading volume on Tuesday . 23,651 shares changed hands during trading, an increase of 131% from the previous session’s volume of 10,243 shares.The stock last traded at $16.47 and had previously closed at $16.65.

Wall Street Analyst Weigh In

Separately, Barclays upped their target price on Enlight Renewable Energy from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, November 15th.

Enlight Renewable Energy Stock Performance

The firm’s fifty day simple moving average is $16.41 and its 200 day simple moving average is $16.11. The company has a market capitalization of $1.90 billion, a PE ratio of 37.43 and a beta of 1.53. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.53 and a quick ratio of 0.53.

Enlight Renewable Energy (NASDAQ:ENLT) last posted 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. Enlight Renewable Energy had a return on equity of 3.34% and a net margin of 13.58%. The firm had revenue of $109.50 million for the quarter, compared to analyst estimates of $83.09 million. During the same period last year, the company earned $0.13 earnings per share. Enlight Renewable Energy’s revenue for the quarter was up 87.8% compared to the same quarter last year. On average, research analysts predict that Enlight Renewable Energy Ltd will post 0.07 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Advisors Asset Management Inc. grew its position in shares of Enlight Renewable Energy by 1,181.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 14,263 shares of the company’s stock valued at $241,000 after acquiring an additional 13,150 shares during the period. Susquehanna International Group Ltd. acquired a new stake in Enlight Renewable Energy in the second quarter valued at approximately $253,000. Tidal Investments LLC grew its holdings in Enlight Renewable Energy by 11.3% in the third quarter. Tidal Investments LLC now owns 18,241 shares of the company’s stock valued at $308,000 after purchasing an additional 1,852 shares during the period. Barclays PLC increased its position in shares of Enlight Renewable Energy by 4,278.2% in 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 in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Enlight Renewable Energy during the 3rd quarter worth approximately $655,000. 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.