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

Enlight Renewable Energy Ltd (NASDAQ:ENLT) shares gapped down prior to trading on Thursday . The stock had previously closed at $18.19, but opened at $17.04. Enlight Renewable Energy shares last traded at $17.28, with a volume of 21,419 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Enlight Renewable Energy in a report on Thursday, March 6th. They issued a “buy” rating and a $22.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.25.

Enlight Renewable Energy Trading Up 2.1%

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 business has a fifty day simple moving average of $16.48 and a 200 day simple moving average of $16.56. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 48.64 and a beta of 1.24.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its earnings results on Tuesday, May 6th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.24. The company had revenue of $129.87 million during the quarter, compared to the consensus estimate of $396.61 million. Enlight Renewable Energy had a return on equity of 3.03% and a net margin of 11.09%. As a group, research analysts expect that Enlight Renewable Energy Ltd will post 0.41 EPS for the current year.

Institutional Trading of Enlight Renewable Energy

Several hedge funds and other institutional investors have recently bought and sold shares of ENLT. Y.D. More Investments Ltd raised its position in shares of Enlight Renewable Energy by 18.0% in the first quarter. Y.D. More Investments Ltd now owns 3,621,516 shares of the company’s stock valued at $57,870,000 after buying an additional 553,337 shares in the last quarter. Phoenix Financial Ltd. grew 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 buying an additional 372,403 shares in the last quarter. Meitav Investment House Ltd. increased its stake in Enlight Renewable Energy by 4.0% during the 4th 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. Norges Bank bought a new position in Enlight Renewable Energy during the 4th quarter worth $3,631,000. Finally, Canada Pension Plan Investment Board raised its holdings in Enlight Renewable Energy by 131.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 255,136 shares of the company’s stock valued at $4,064,000 after acquiring an additional 144,980 shares in the last quarter. Institutional investors and hedge funds 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.