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

Enlight Renewable Energy Ltd (NASDAQ:ENLT)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $16.25, but opened at $15.77. Enlight Renewable Energy shares last traded at $15.77, with a volume of 161 shares traded.

Analysts Set New Price Targets

ENLT has been the subject of several recent research reports. 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. Roth Mkm restated a “buy” rating and issued a $20.00 target price on shares of Enlight Renewable Energy in a research note on Wednesday, August 14th.

Enlight Renewable Energy Stock Down 1.5 %

The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $1.85 billion, a P/E ratio of 36.93 and a beta of 1.71. The stock’s 50 day simple moving average is $15.91 and its 200 day simple moving average is $16.32.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings data on Wednesday, November 13th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. Enlight Renewable Energy had a net margin of 13.58% and a return on equity of 3.34%. The firm had revenue of $109.50 million for the quarter, compared to the consensus estimate of $83.09 million. During the same period in the prior year, the firm posted $0.13 EPS. The firm’s revenue was up 87.8% compared to the same quarter last year. As a group, research analysts predict that Enlight Renewable Energy Ltd will post 0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Enlight Renewable Energy

Large investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in shares of Enlight Renewable Energy by 0.9% in the third quarter. Geode Capital Management LLC now owns 103,590 shares of the company’s stock worth $1,751,000 after acquiring an additional 907 shares in the last quarter. Advisors Asset Management Inc. grew its position in Enlight Renewable Energy by 1,181.5% in 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 in the last quarter. Tidal Investments LLC bought a new stake in Enlight Renewable Energy in the first quarter worth approximately $254,000. Susquehanna International Group Ltd. bought a new stake in Enlight Renewable Energy in the second quarter worth approximately $253,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Enlight Renewable Energy in the first quarter worth $377,000. 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.