Enlight Renewable Energy (NASDAQ:ENLT) Trading Down 4.4% – Should You Sell?

Enlight Renewable Energy Ltd (NASDAQ:ENLT) shares dropped 4.4% during mid-day trading on Wednesday . The stock traded as low as $15.92 and last traded at $15.92. Approximately 440 shares traded hands during trading, a decline of 98% from the average daily volume of 27,253 shares. The stock had previously closed at $16.65.

Analyst Upgrades and Downgrades

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

Enlight Renewable Energy Trading Down 1.1 %

The company has a debt-to-equity ratio of 1.59, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a 50-day moving average price of $16.02 and a two-hundred day moving average price of $16.40. The stock has a market cap of $1.82 billion, a PE ratio of 31.22 and a beta of 1.69.

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

Institutional Trading of Enlight Renewable Energy

A number of large investors have recently made changes to their positions in the business. Tidal Investments LLC bought a new stake in Enlight Renewable Energy during the first quarter worth approximately $254,000. Susquehanna International Group Ltd. purchased a new stake in Enlight Renewable Energy during the 2nd quarter valued at $253,000. Capstone Investment Advisors LLC lifted its position 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 worth $369,000 after buying an additional 1,800 shares during the last quarter. Quadrature Capital Ltd purchased a new position in Enlight Renewable Energy during the first quarter worth $377,000. Finally, Swiss National Bank boosted its stake in Enlight Renewable Energy by 1.3% during the first quarter. Swiss National Bank now owns 236,337 shares of the company’s stock worth $3,954,000 after buying an additional 3,045 shares during the period. 38.89% of the stock is currently owned by institutional investors.

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.