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

Enlight Renewable Energy Ltd (NASDAQ:ENLT)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $17.82, but opened at $17.12. Enlight Renewable Energy shares last traded at $17.02, with a volume of 5,939 shares.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ENLT. JPMorgan Chase & Co. increased their price objective on shares of Enlight Renewable Energy from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Wolfe Research downgraded shares of Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 20th. Finally, Barclays raised their price objective on Enlight Renewable Energy from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, November 15th.

Enlight Renewable Energy Trading Down 0.3 %

The business has a fifty day moving average price of $16.81 and a 200-day moving average price of $16.31. The company has a quick ratio of 0.53, a current ratio of 1.22 and a debt-to-equity ratio of 1.98. The company has a market cap of $2.01 billion, a P/E ratio of 48.31 and a beta of 1.51.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.17. Enlight Renewable Energy had a return on equity of 3.03% and a net margin of 11.09%. The business had revenue of $114.21 million during the quarter, compared to the consensus estimate of $289.04 million. On average, analysts forecast that Enlight Renewable Energy Ltd will post 0.41 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ENLT. Edmond DE Rothschild Holding S.A. increased its holdings in Enlight Renewable Energy by 51.0% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 1,850 shares of the company’s stock valued at $32,000 after buying an additional 625 shares during the period. Russell Investments Group Ltd. bought a new stake in Enlight Renewable Energy during the fourth quarter worth $145,000. Jane Street Group LLC acquired a new stake in shares of Enlight Renewable Energy in the 4th quarter valued at $196,000. Advisors Asset Management Inc. increased its stake in shares of Enlight Renewable Energy by 1,181.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 14,263 shares of the company’s stock valued at $241,000 after purchasing an additional 13,150 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in Enlight Renewable Energy by 11.3% in the third quarter. Tidal Investments LLC now owns 18,241 shares of the company’s stock valued at $308,000 after buying an additional 1,852 shares in 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.