Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Down – Should You Sell?

Enlight Renewable Energy Ltd (NASDAQ:ENLT)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $17.10, but opened at $16.68. Enlight Renewable Energy shares last traded at $16.67, with a volume of 4,816 shares changing hands.

Analyst Ratings Changes

Separately, Barclays upped their target price on Enlight Renewable Energy from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, November 15th.

Enlight Renewable Energy Stock Up 3.0 %

The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.53 and a current ratio of 0.53. The stock has a market capitalization of $1.98 billion, a PE ratio of 38.86 and a beta of 1.53. The business has a 50 day moving average of $16.51 and a two-hundred day moving average of $16.14.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings data on Wednesday, November 13th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. The firm had revenue of $109.50 million during the quarter, compared to analysts’ expectations of $83.09 million. Enlight Renewable Energy had a return on equity of 3.34% and a net margin of 13.58%. The firm’s quarterly revenue was up 87.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 EPS. Analysts predict that Enlight Renewable Energy Ltd will post 0.07 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ENLT. Advisors Asset Management Inc. increased its holdings in shares of 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 valued at $241,000 after purchasing an additional 13,150 shares during the period. Susquehanna International Group Ltd. acquired a new stake in Enlight Renewable Energy during the second quarter worth about $253,000. Tidal Investments LLC grew its holdings in 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. Barclays PLC grew its holdings in Enlight Renewable Energy by 4,278.2% during the third quarter. Barclays PLC now owns 25,525 shares of the company’s stock worth $432,000 after acquiring an additional 24,942 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in Enlight Renewable Energy during the third quarter worth about $655,000. 38.89% of the stock is 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.