Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Down – Here’s What Happened

Enlight Renewable Energy Ltd (NASDAQ:ENLT)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $16.25, but opened at $15.77. Enlight Renewable Energy shares last traded at $15.77, with a volume of 161 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Roth Mkm reaffirmed a “buy” rating and set a $20.00 price objective on shares of Enlight Renewable Energy in a research report on Wednesday, August 14th. Barclays raised their price target on Enlight Renewable Energy from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th.

Enlight Renewable Energy Trading Up 0.6 %

The company has a 50 day moving average of $15.90 and a 200-day moving average of $16.32. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.53 and a current ratio of 0.53. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 36.91 and a beta of 1.71.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its earnings results on Wednesday, November 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.09. Enlight Renewable Energy had a return on equity of 3.34% and a net margin of 13.58%. The firm had revenue of $109.50 million for the quarter, compared to analyst estimates of $83.09 million. During the same quarter in the prior year, the company earned $0.13 EPS. Enlight Renewable Energy’s revenue was up 87.8% on a year-over-year basis. On average, research analysts anticipate that Enlight Renewable Energy Ltd will post 0.18 earnings per share for the current year.

Institutional Investors Weigh In On Enlight Renewable Energy

A number of hedge funds have recently bought and sold shares of ENLT. Vanguard Group Inc. raised its position in Enlight Renewable Energy by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 4,001,391 shares of the company’s stock valued at $67,704,000 after purchasing an additional 29,249 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Enlight Renewable Energy in the 1st quarter valued at about $377,000. Tidal Investments LLC acquired a new stake in Enlight Renewable Energy in the 1st quarter valued at about $254,000. Harel Insurance Investments & Financial Services Ltd. raised its position in Enlight Renewable Energy by 3.0% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,619,180 shares of the company’s stock valued at $42,326,000 after purchasing an additional 76,873 shares in the last quarter. Finally, Y.D. More Investments Ltd raised its position in Enlight Renewable Energy by 94,919.7% in the 2nd quarter. Y.D. More Investments Ltd now owns 1,957,405 shares of the company’s stock valued at $31,166,000 after purchasing an additional 1,955,345 shares in the last quarter. 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.