Ellomay Capital (NYSEAMERICAN:ELLO) Shares Cross Below 50-Day Moving Average – Time to Sell?

Ellomay Capital Ltd. (NYSEAMERICAN:ELLO) shares crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $25.94 and traded as low as $24.51. Ellomay Capital shares last traded at $25.10, with a volume of 1,795 shares.

Ellomay Capital Stock Up 0.4%

The firm has a market capitalization of $345.88 million, a price-to-earnings ratio of -139.44 and a beta of 1.00. The business has a 50 day simple moving average of $25.94 and a 200-day simple moving average of $23.31. The company has a debt-to-equity ratio of 3.04, a quick ratio of 1.18 and a current ratio of 1.18.

Hedge Funds Weigh In On Ellomay Capital

A number of hedge funds have recently modified their holdings of ELLO. Menora Mivtachim Holdings LTD. purchased a new position in shares of Ellomay Capital during the 3rd quarter worth $17,019,000. Yelin Lapidot Holdings Management Ltd. grew its holdings in shares of Ellomay Capital by 75.5% during the 4th quarter. Yelin Lapidot Holdings Management Ltd. now owns 193,565 shares of the utilities provider’s stock worth $4,704,000 after purchasing an additional 83,300 shares during the period. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Ellomay Capital by 4.6% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,594,224 shares of the utilities provider’s stock worth $28,276,000 after purchasing an additional 70,180 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Ellomay Capital by 39.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,601 shares of the utilities provider’s stock worth $65,000 after purchasing an additional 1,021 shares during the period. 27.54% of the stock is currently owned by hedge funds and other institutional investors.

About Ellomay Capital

Ellomay Capital Ltd. is an Israel-based investment company specializing in the acquisition, financing, development and operation of renewable energy and related infrastructure assets. Founded in 2014 and traded on the NYSE American under the ticker ELLO, Ellomay focuses on building a diversified portfolio of solar photovoltaic (PV) projects and specialty infrastructure businesses that generate stable, long-term cash flows under government-backed tariffs and concession agreements.

The company’s core activities center on ground-mounted solar PV installations in Italy, where its operating portfolio comprises multiple medium-sized projects secured under feed-in-tariff regimes.