Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Down to $16.37

Enlight Renewable Energy Ltd (NASDAQ:ENLT)’s share price gapped down before the market opened on Monday . The stock had previously closed at $16.37, but opened at $15.63. Enlight Renewable Energy shares last traded at $15.55, with a volume of 727 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ENLT. Barclays cut their price target on shares of 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. JPMorgan Chase & Co. reissued a “neutral” rating and set a $16.00 price target (down from $19.00) on shares of Enlight Renewable Energy in a research report on Monday, April 8th. Finally, Roth Mkm restated a “buy” rating and issued a $20.00 price objective (up previously from $19.00) on shares of Enlight Renewable Energy in a research report on Thursday, May 9th.

Enlight Renewable Energy Trading Down 5.4 %

The business has a 50 day moving average of $16.64 and a 200-day moving average of $16.98. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $1.79 billion, a P/E ratio of 30.29 and a beta of 1.67.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.05. Enlight Renewable Energy had a return on equity of 4.47% and a net margin of 23.15%. The company had revenue of $90.40 million during the quarter, compared to analysts’ expectations of $79.31 million. During the same period in the prior year, the firm earned $0.20 earnings per share. Enlight Renewable Energy’s revenue for the quarter was up 27.3% compared to the same quarter last year. Analysts anticipate that Enlight Renewable Energy Ltd will post 0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ENLT. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Enlight Renewable Energy during the 4th quarter worth about $217,000. Tidal Investments LLC bought a new position in Enlight Renewable Energy in the first quarter valued at approximately $254,000. Capstone Investment Advisors LLC grew its stake in 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 purchasing an additional 1,800 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Enlight Renewable Energy during the 1st quarter worth approximately $377,000. Finally, Swiss National Bank boosted its holdings in shares of 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 buying an additional 3,045 shares during the last quarter. Institutional investors 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.