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

Enlight Renewable Energy Ltd (NASDAQ:ENLT) shares gapped down before the market opened 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.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Barclays dropped their target price on shares of 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. JPMorgan Chase & Co. reissued 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, Roth Mkm reissued a “buy” rating and set a $20.00 target price (up previously from $19.00) on shares of Enlight Renewable Energy in a research report on Thursday, May 9th.

Enlight Renewable Energy Stock Performance

The stock has a market cap of $1.72 billion, a PE ratio of 29.76 and a beta of 1.74. The stock has a fifty day simple moving average of $17.14 and a two-hundred day simple moving average of $17.39. 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 released its quarterly earnings results on Wednesday, May 8th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The firm had revenue of $90.40 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business earned $0.20 EPS. Equities analysts anticipate that Enlight Renewable Energy Ltd will post 0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Enlight Renewable Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capstone Investment Advisors LLC boosted 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 buying an additional 1,800 shares during the last quarter. Swiss National Bank boosted its stake in shares of Enlight Renewable Energy by 1.3% during the 1st 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 last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Enlight Renewable Energy during the 4th quarter valued at approximately $217,000. Tidal Investments LLC purchased a new position in shares of Enlight Renewable Energy during the 1st quarter valued at approximately $254,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Enlight Renewable Energy during the 1st quarter valued at approximately $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.