Enlight Renewable Energy (NASDAQ:ENLT) Stock Price Down 2.8%

Enlight Renewable Energy Ltd (NASDAQ:ENLT) shares fell 2.8% on Tuesday . The stock traded as low as $14.50 and last traded at $14.54. 1,982 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 34,929 shares. The stock had previously closed at $14.96.

Wall Street Analysts Forecast Growth

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

Enlight Renewable Energy Trading Up 1.3 %

The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 29.12 and a beta of 1.67. The business’s fifty day moving average is $17.04 and its 200 day moving average is $17.32. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.60.

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

Hedge Funds Weigh In On Enlight Renewable Energy

Several hedge funds have recently made changes to their positions in ENLT. Vanguard Personalized Indexing Management LLC acquired a new position in Enlight Renewable Energy during the fourth quarter worth $217,000. Tidal Investments LLC bought a new position in shares of Enlight Renewable Energy in the 1st quarter valued at about $254,000. Capstone Investment Advisors LLC increased its position in shares of Enlight Renewable Energy by 9.0% in the first quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the company’s stock valued at $369,000 after acquiring an additional 1,800 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Enlight Renewable Energy during the first quarter worth about $377,000. Finally, Swiss National Bank boosted its position in Enlight Renewable Energy by 1.3% during the first quarter. Swiss National Bank now owns 236,337 shares of the company’s stock valued at $3,954,000 after purchasing an additional 3,045 shares during the last quarter. 38.89% of the stock is owned by institutional investors.

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.