Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Down to $16.66

Enlight Renewable Energy Ltd (NASDAQ:ENLT) gapped down prior to trading on Thursday . The stock had previously closed at $16.66, but opened at $16.17. Enlight Renewable Energy shares last traded at $16.13, with a volume of 2,021 shares.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Roth Mkm reissued a “buy” rating and issued a $20.00 target price (up previously from $19.00) on shares of Enlight Renewable Energy in a report on Thursday, May 9th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $16.00 target price (down previously from $19.00) on shares of Enlight Renewable Energy in a research report on Monday, April 8th. Finally, Barclays cut their target price on Enlight Renewable Energy from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th.

Enlight Renewable Energy Stock Down 0.6 %

The business has a 50 day moving average of $17.16 and a two-hundred day moving average of $17.46. The stock has a market capitalization of $1.88 billion, a PE ratio of 31.86 and a beta of 1.74. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.94 and a current ratio of 0.94.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. Enlight Renewable Energy had a return on equity of 4.47% and a net margin of 23.15%. The business had revenue of $90.40 million for the quarter, compared to analyst estimates of $79.31 million. During the same period in the prior year, the company earned $0.20 earnings per share. The company’s revenue was up 27.3% on a year-over-year basis. Analysts predict that Enlight Renewable Energy Ltd will post 0.25 EPS for the current year.

Hedge Funds Weigh In On Enlight Renewable Energy

Several hedge funds and other institutional investors have recently made changes to their positions in ENLT. Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Enlight Renewable Energy by 16.2% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 7,936,313 shares of the company’s stock valued at $155,473,000 after acquiring an additional 1,105,929 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Enlight Renewable Energy by 277.6% in the first quarter. Assenagon Asset Management S.A. now owns 580,673 shares of the company’s stock valued at $9,752,000 after purchasing an additional 426,881 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Enlight Renewable Energy by 3.4% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,542,307 shares of the company’s stock valued at $43,016,000 after purchasing an additional 83,400 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Enlight Renewable Energy by 2.1% in the third quarter. Vanguard Group Inc. now owns 3,889,496 shares of the company’s stock valued at $61,026,000 after purchasing an additional 79,618 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in Enlight Renewable Energy during the first quarter worth $377,000. Hedge funds and other institutional investors 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.