Enlight Renewable Energy Stock Beta
| ENLT Stock | 17.40 0.52 3.08% |
Enlight Renewable Energy fundamentals help investors to digest information that contributes to Enlight Renewable's financial success or failures. It also enables traders to predict the movement of Enlight Stock. The fundamental analysis module provides a way to measure Enlight Renewable's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Enlight Renewable stock.
Enlight | Beta |
Enlight Renewable Energy Company Beta Analysis
Enlight Renewable's Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of an equity instrument to the financial market in which this instrument is traded. For example, if Beta of equity is 2, it is expected to significantly outperform market when the market is going up and significantly underperform when the market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns over time.
Current Enlight Renewable Beta | 0.67 |
Most of Enlight Renewable's fundamental indicators, such as Beta, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Enlight Renewable Energy is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
Enlight Beta Driver Correlations
Understanding the fundamental principles of building solid financial models for Enlight Renewable is extremely important. It helps to project a fair market value of Enlight Stock properly, considering its historical fundamentals such as Beta. Since Enlight Renewable's main accounts across its financial reports are all linked and dependent on each other, it is essential to analyze all possible correlations between related accounts. However, instead of reviewing all of Enlight Renewable's historical financial statements, investors can examine the correlated drivers to determine its overall health. This can be effectively done using a conventional correlation matrix of Enlight Renewable's interrelated accounts and indicators.
Click cells to compare fundamentals
In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.
| Competition |
In accordance with the recently published financial statements, Enlight Renewable Energy has a Beta of 0.671. This is 49.11% higher than that of the Independent Power and Renewable Electricity Producers sector and 97.35% higher than that of the Utilities industry. The beta for all United States stocks is notably lower than that of the firm.
Enlight Beta Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Enlight Renewable's direct or indirect competition against its Beta to detect undervalued stocks with similar characteristics or determine the stocks which would be a good addition to a portfolio. Peer analysis of Enlight Renewable could also be used in its relative valuation, which is a method of valuing Enlight Renewable by comparing valuation metrics of similar companies.Enlight Renewable is currently under evaluation in beta category among its peers.
Enlight Renewable Current Valuation Drivers
We derive many important indicators used in calculating different scores of Enlight Renewable from analyzing Enlight Renewable's financial statements. These drivers represent accounts that assess Enlight Renewable's ability to generate profits relative to its revenue, operating costs, and shareholders' equity. Below are some of Enlight Renewable's important valuation drivers and their relationship over time.
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Market Cap | 422.7M | 493.1M | 570.4M | 190.8M | 2.2B | 2.3B | |
| Enterprise Value | 2.5B | 3.9B | 5.4B | 2.2B | 4.5B | 4.7B |
As returns on the market increase, Enlight Renewable's returns are expected to increase less than the market. However, during the bear market, the loss of holding Enlight Renewable is expected to be smaller as well.
Enlight Fundamentals
| Return On Equity | 0.0629 | ||||
| Return On Asset | 0.0171 | ||||
| Profit Margin | 0.23 % | ||||
| Operating Margin | 0.47 % | ||||
| Current Valuation | 4.8 B | ||||
| Shares Outstanding | 117.96 M | ||||
| Shares Owned By Insiders | 1.38 % | ||||
| Shares Owned By Institutions | 64.00 % | ||||
| Number Of Shares Shorted | 479.04 K | ||||
| Price To Book | 1.61 X | ||||
| Price To Sales | 7.42 X | ||||
| Revenue | 255.7 M | ||||
| Gross Profit | 153.87 M | ||||
| EBITDA | 196.81 M | ||||
| Net Income | 98.04 M | ||||
| Total Debt | 2.7 B | ||||
| Book Value Per Share | 10.06 X | ||||
| Cash Flow From Operations | 149.62 M | ||||
| Short Ratio | 18.74 X | ||||
| Earnings Per Share | 0.51 X | ||||
| Target Price | 20.0 | ||||
| Number Of Employees | 287 | ||||
| Beta | 0.67 | ||||
| Market Capitalization | 2 B | ||||
| Total Asset | 4.63 B | ||||
| Retained Earnings | 63.71 M | ||||
| Working Capital | 81.35 M | ||||
| Net Asset | 4.63 B |
About Enlight Renewable Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Enlight Renewable Energy's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Enlight Renewable using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Enlight Renewable Energy based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Pair Trading with Enlight Renewable
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Enlight Renewable position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Enlight Renewable will appreciate offsetting losses from the drop in the long position's value.Moving against Enlight Stock
The ability to find closely correlated positions to Enlight Renewable could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Enlight Renewable when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Enlight Renewable - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Enlight Renewable Energy to buy it.
The correlation of Enlight Renewable is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Enlight Renewable moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Enlight Renewable Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Enlight Renewable can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Additional Tools for Enlight Stock Analysis
When running Enlight Renewable's price analysis, check to measure Enlight Renewable's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Enlight Renewable is operating at the current time. Most of Enlight Renewable's value examination focuses on studying past and present price action to predict the probability of Enlight Renewable's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Enlight Renewable's price. Additionally, you may evaluate how the addition of Enlight Renewable to your portfolios can decrease your overall portfolio volatility.