Enlight Renewable Energy (NASDAQ:ENLT) Shares Down 3.3% – What’s Next?

Enlight Renewable Energy Ltd (NASDAQ:ENLT)’s stock price traded down 3.3% during trading on Wednesday . The company traded as low as $16.02 and last traded at $15.68. 1,402 shares were traded during mid-day trading, a decline of 91% from the average session volume of 16,258 shares. The stock had previously closed at $16.21.

Analysts Set New Price Targets

ENLT has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Enlight Renewable Energy in a research report on Thursday, March 6th. They set a “buy” rating and a $22.00 target price on the stock. Wolfe Research cut shares of Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 20th. Finally, 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 report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

Enlight Renewable Energy Trading Down 3.0 %

The company’s fifty day moving average is $16.66 and its 200-day moving average is $16.39. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.22 and a quick ratio of 0.53. The company has a market capitalization of $1.82 billion, a PE ratio of 43.67 and a beta of 1.38.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, topping 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 firm had revenue of $114.21 million during the quarter, compared to analyst estimates of $289.04 million. On average, analysts anticipate that Enlight Renewable Energy Ltd will post 0.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Enlight Renewable Energy

A number of institutional investors have recently modified their holdings of the stock. Meitav Investment House Ltd. raised its position in shares of Enlight Renewable Energy by 4.0% in the fourth quarter. Meitav Investment House Ltd. now owns 5,901,179 shares of the company’s stock worth $101,910,000 after acquiring an additional 229,255 shares during the period. Vanguard Group Inc. increased its position in shares of Enlight Renewable Energy by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 4,158,533 shares of the company’s stock valued at $71,926,000 after buying an additional 35,555 shares in the last quarter. Y.D. More Investments Ltd increased its stake in shares of Enlight Renewable Energy by 18.6% during the fourth quarter. Y.D. More Investments Ltd now owns 3,068,179 shares of the company’s stock worth $53,043,000 after purchasing an additional 482,129 shares in the last quarter. Phoenix Financial Ltd. boosted its position in Enlight Renewable Energy by 42.2% during the fourth quarter. Phoenix Financial Ltd. now owns 1,254,495 shares of the company’s stock worth $21,634,000 after acquiring an additional 372,403 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in Enlight Renewable Energy by 5.7% during the 4th quarter. Legal & General Group Plc now owns 504,508 shares of the company’s stock valued at $8,730,000 after acquiring an additional 27,248 shares in the last quarter. Hedge funds and other 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.