Enlight Renewable Energy Ltd (NASDAQ:ENLT – Get Free Report) shares dropped 4.4% during mid-day trading on Wednesday . The stock traded as low as $15.92 and last traded at $15.92. Approximately 440 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 27,253 shares. The stock had previously closed at $16.65.
Analyst Upgrades and Downgrades
Separately, Roth Mkm reaffirmed a “buy” rating and issued a $20.00 price target on shares of Enlight Renewable Energy in a research note on Wednesday, August 14th.
View Our Latest Stock Report on Enlight Renewable Energy
Enlight Renewable Energy Price Performance
Enlight Renewable Energy (NASDAQ:ENLT – Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.07. Enlight Renewable Energy had a net margin of 18.61% and a return on equity of 3.97%. The business had revenue of $84.70 million during the quarter, compared to the consensus estimate of $76.23 million. During the same quarter last year, the firm earned $0.12 earnings per share. The firm’s revenue for the quarter was up 61.0% compared to the same quarter last year. Sell-side analysts forecast that Enlight Renewable Energy Ltd will post 0.26 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Enlight Renewable Energy
Hedge funds and other institutional investors have recently made changes to their positions in the company. Y.D. More Investments Ltd grew its position in shares of Enlight Renewable Energy by 94,919.7% in the 2nd quarter. Y.D. More Investments Ltd now owns 1,957,405 shares of the company’s stock valued at $31,166,000 after acquiring an additional 1,955,345 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its position in Enlight Renewable Energy by 3.4% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,542,307 shares of the company’s stock worth $43,016,000 after buying an additional 83,400 shares during the last quarter. Vanguard Group Inc. raised its stake in Enlight Renewable Energy by 0.7% in the first quarter. Vanguard Group Inc. now owns 4,001,391 shares of the company’s stock valued at $67,704,000 after buying an additional 29,249 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Enlight Renewable Energy in the first quarter valued at approximately $377,000. Finally, Susquehanna International Group Ltd. bought a new position in shares of Enlight Renewable Energy during the 2nd quarter worth approximately $253,000. 38.89% of the stock is owned by institutional investors.
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.
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