Enlight Renewable Energy (NASDAQ:ENLT) Stock Price Down 4.4% – Here’s What Happened

Enlight Renewable Energy Ltd (NASDAQ:ENLT)’s share price fell 4.4% on Thursday . The stock traded as low as $16.29 and last traded at $16.24. 2,168 shares were traded during trading, a decline of 87% from the average session volume of 17,226 shares. The stock had previously closed at $16.98.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Enlight Renewable Energy in a research report on Thursday, March 6th. They issued a “buy” rating and a $22.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on Enlight Renewable Energy from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Finally, Wolfe Research downgraded Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.25.

Enlight Renewable Energy Price Performance

The firm has a market cap of $1.89 billion, a PE ratio of 45.53 and a beta of 1.38. 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 stock has a 50 day simple moving average of $16.82 and a two-hundred day simple moving average of $16.39.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.17. The company had revenue of $114.21 million for the quarter, compared to analyst estimates of $289.04 million. Enlight Renewable Energy had a return on equity of 3.03% and a net margin of 11.09%. Sell-side analysts expect that Enlight Renewable Energy Ltd will post 0.41 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Edmond DE Rothschild Holding S.A. boosted its stake in shares of Enlight Renewable Energy by 51.0% in the fourth 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 in the last quarter. Russell Investments Group Ltd. acquired a new position in Enlight Renewable Energy during the 4th quarter worth approximately $145,000. Jane Street Group LLC purchased a new stake in Enlight Renewable Energy during the 4th quarter worth approximately $196,000. Advisors Asset Management Inc. lifted its holdings in Enlight Renewable Energy by 1,181.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 14,263 shares of the company’s stock worth $241,000 after buying an additional 13,150 shares during the last quarter. Finally, Tidal Investments LLC grew 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 valued at $308,000 after purchasing an additional 1,852 shares during the last quarter. Institutional investors and hedge funds own 38.89% of the company’s stock.

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.