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

Shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT) gapped down before the market opened on Monday . The stock had previously closed at $15.75, but opened at $15.05. Enlight Renewable Energy shares last traded at $15.01, with a volume of 1,265 shares trading hands.

Wall Street Analyst Weigh In

Separately, 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.

Enlight Renewable Energy Trading Up 1.5 %

The firm has a 50 day simple moving average of $15.88 and a 200 day simple moving average of $16.34. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $1.75 billion, a PE ratio of 33.67 and a beta of 1.71.

Institutional Trading of Enlight Renewable Energy

Institutional investors have recently added to or reduced their stakes in the business. Y.D. More Investments Ltd boosted its stake in Enlight Renewable Energy by 94,919.7% during 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 during the last quarter. Tidal Investments LLC purchased a new stake in Enlight Renewable Energy during the 1st quarter valued at $254,000. Swiss National Bank boosted its stake in Enlight Renewable Energy by 1.3% during the 1st quarter. Swiss National Bank now owns 236,337 shares of the company’s stock valued at $3,954,000 after purchasing an additional 3,045 shares during the last quarter. Susquehanna International Group Ltd. purchased a new stake in Enlight Renewable Energy during the 2nd quarter valued at $253,000. Finally, Vanguard Group Inc. boosted its stake in Enlight Renewable Energy by 0.7% during 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 during the last quarter. 38.89% of the stock is currently owned by hedge funds and other 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.