Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Down to $16.90

Enlight Renewable Energy Ltd (NASDAQ:ENLT)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $16.90, but opened at $16.28. Enlight Renewable Energy shares last traded at $16.12, with a volume of 1,786 shares traded.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm restated a “buy” rating and set a $20.00 target price on shares of Enlight Renewable Energy in a report on Wednesday, August 14th.

Enlight Renewable Energy Stock Performance

The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock’s 50-day moving average price is $16.00 and its 200 day moving average price is $16.53. The company has a market cap of $1.88 billion, a P/E ratio of 33.14 and a beta of 1.69.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its earnings results on Wednesday, August 7th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.07. Enlight Renewable Energy had a net margin of 18.61% and a return on equity of 3.97%. The firm had revenue of $84.70 million for the quarter, compared to the consensus estimate of $76.23 million. During the same quarter last year, the firm posted $0.12 EPS. The business’s quarterly revenue was up 61.0% on a year-over-year basis. As a group, research analysts expect that Enlight Renewable Energy Ltd will post 0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Enlight Renewable Energy

Several large investors have recently made changes to their positions in the business. Clal Insurance Enterprises Holdings Ltd lifted its holdings in shares of Enlight Renewable Energy by 16.2% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 7,936,313 shares of the company’s stock worth $155,473,000 after buying an additional 1,105,929 shares during the last quarter. Y.D. More Investments Ltd increased its position in Enlight Renewable Energy by 94,919.7% during the second quarter. Y.D. More Investments Ltd now owns 1,957,405 shares of the company’s stock worth $31,166,000 after acquiring an additional 1,955,345 shares during the period. Tidal Investments LLC bought a new position in Enlight Renewable Energy during the first quarter worth $254,000. Capstone Investment Advisors LLC raised its stake in 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 last quarter. Finally, Swiss National Bank boosted its holdings in Enlight Renewable Energy by 1.3% in the 1st 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 period. Institutional investors and hedge funds own 38.89% of the company’s stock.

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.