Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Down to $16.16

Shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT) gapped down prior to trading on Monday . The stock had previously closed at $16.16, but opened at $15.17. Enlight Renewable Energy shares last traded at $15.16, with a volume of 5,861 shares changing hands.

Analyst Ratings Changes

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

Enlight Renewable Energy Stock Down 2.0 %

The stock has a fifty day moving average of $17.07 and a 200 day moving average of $17.34. The firm has a market capitalization of $1.69 billion, a P/E ratio of 28.75 and a beta of 1.67. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.94 and a quick ratio of 0.94.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The business had revenue of $90.40 million for the quarter, compared to analyst estimates of $79.31 million. Enlight Renewable Energy had a return on equity of 4.47% and a net margin of 23.15%. Enlight Renewable Energy’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same period last year, the company posted $0.20 earnings per share. On average, research analysts anticipate that Enlight Renewable Energy Ltd will post 0.25 EPS for the current fiscal year.

Institutional Trading of Enlight Renewable Energy

Several hedge funds have recently made changes to their positions in the company. Tidal Investments LLC bought a new stake in shares of Enlight Renewable Energy in the first quarter valued at $254,000. Quadrature Capital Ltd bought a new stake in shares of Enlight Renewable Energy in the first quarter valued at $377,000. Vanguard Group Inc. raised its stake in shares of Enlight Renewable Energy by 0.7% in the first quarter. Vanguard Group Inc. now owns 4,001,391 shares of the company’s stock valued at $67,704,000 after buying an additional 29,249 shares during the period. Swiss National Bank raised its stake in shares of Enlight Renewable Energy by 1.3% in the first quarter. Swiss National Bank now owns 236,337 shares of the company’s stock valued at $3,954,000 after buying an additional 3,045 shares during the period. Finally, Capstone Investment Advisors LLC raised its stake in shares of Enlight Renewable Energy by 9.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the company’s stock valued at $369,000 after purchasing an additional 1,800 shares during the period. 38.89% of the stock is currently 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.