Enlight Renewable Energy (NASDAQ:ENLT) Sees Large Volume Increase – Time to Buy?

Shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT) saw strong trading volume on Wednesday . 22,757 shares changed hands during mid-day trading, a decline of 12% from the previous session’s volume of 25,986 shares.The stock last traded at $15.78 and had previously closed at $15.15.

Wall Street Analyst Weigh In

Separately, Roth Mkm reaffirmed a “buy” rating and issued a $20.00 target price on shares of Enlight Renewable Energy in a research report on Wednesday, August 14th.

Enlight Renewable Energy Stock Performance

The company has a market capitalization of $1.83 billion, a P/E ratio of 35.11 and a beta of 1.71. The stock has a fifty day simple moving average of $15.86 and a 200-day simple moving average of $16.34. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.59.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ENLT. Y.D. More Investments Ltd increased its position in 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 worth $31,166,000 after purchasing an additional 1,955,345 shares during the period. Clal Insurance Enterprises Holdings Ltd lifted its holdings 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 valued at $147,885,000 after purchasing an additional 353,750 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Enlight Renewable Energy by 3.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,619,180 shares of the company’s stock valued at $42,326,000 after purchasing an additional 76,873 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Enlight Renewable Energy by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 4,001,391 shares of the company’s stock valued at $67,704,000 after purchasing an additional 29,249 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in Enlight Renewable Energy in the 1st quarter valued at approximately $377,000. 38.89% of the stock is owned by institutional investors.

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.