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

Enlight Renewable Energy Ltd (NASDAQ:ENLT)’s stock price gapped down prior to trading 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 changing hands.

Analysts Set New Price Targets

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

Enlight Renewable Energy Trading Down 4.4 %

The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.53 and a current ratio of 1.22. The firm has a fifty day moving average price of $16.78 and a 200 day moving average price of $16.30. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 47.32 and a beta of 1.51.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings data 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 firm had revenue of $114.21 million for the quarter, compared to analyst estimates of $289.04 million. As a group, equities analysts predict that Enlight Renewable Energy Ltd will post 0.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Enlight Renewable Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Edmond DE Rothschild Holding S.A. lifted its stake in shares of Enlight Renewable Energy by 51.0% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 1,850 shares of the company’s stock worth $32,000 after buying an additional 625 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Enlight Renewable Energy in the 4th quarter valued at about $145,000. Jane Street Group LLC acquired a new stake in Enlight Renewable Energy during the fourth quarter worth approximately $196,000. Advisors Asset Management Inc. boosted its holdings in shares of Enlight Renewable Energy by 1,181.5% during the third quarter. Advisors Asset Management Inc. now owns 14,263 shares of the company’s stock worth $241,000 after acquiring an additional 13,150 shares during the period. Finally, Tidal Investments LLC boosted its holdings in shares of Enlight Renewable Energy by 11.3% during the third quarter. Tidal Investments LLC now owns 18,241 shares of the company’s stock worth $308,000 after acquiring an additional 1,852 shares during the period. 38.89% of the stock is currently owned by institutional investors and hedge funds.

About Enlight Renewable Energy

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.