Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Down to $17.73

Shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT) gapped down prior to trading on Wednesday . The stock had previously closed at $17.73, but opened at $17.30. Enlight Renewable Energy shares last traded at $17.24, with a volume of 2,055 shares trading hands.

Analyst Ratings Changes

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

Enlight Renewable Energy Trading Down 2.9 %

The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 34.77 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. The business has a fifty day moving average price of $17.07 and a 200 day moving average price of $17.45.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings data 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 during 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 business’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.20 EPS. As a group, equities analysts forecast that Enlight Renewable Energy Ltd will post 0.25 earnings per share for the current year.

Institutional Trading of Enlight Renewable Energy

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Enlight Renewable Energy by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 3,889,496 shares of the company’s stock valued at $61,026,000 after buying an additional 79,618 shares during the last quarter. Capstone Investment Advisors LLC boosted its position in Enlight Renewable Energy by 10.5% in the 4th quarter. Capstone Investment Advisors LLC now owns 20,000 shares of the company’s stock valued at $383,000 after buying an additional 1,900 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in Enlight Renewable Energy in the 4th quarter valued at about $217,000. Swiss National Bank boosted its position in Enlight Renewable Energy by 3.6% in the 3rd quarter. Swiss National Bank now owns 260,411 shares of the company’s stock valued at $4,098,000 after buying an additional 9,069 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in Enlight Renewable Energy by 1.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 422,381 shares of the company’s stock valued at $6,560,000 after buying an additional 4,415 shares during the last quarter. 38.89% of the stock is currently owned by institutional investors and hedge funds.

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.