Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Down to $16.37

Enlight Renewable Energy Ltd (NASDAQ:ENLT) gapped down before the market opened on Monday . The stock had previously closed at $16.37, but opened at $15.63. Enlight Renewable Energy shares last traded at $15.55, with a volume of 727 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ENLT shares. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $16.00 target price (down from $19.00) on shares of Enlight Renewable Energy in a research note on Monday, April 8th. Barclays dropped their price objective on Enlight Renewable Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. Finally, Roth Mkm reissued a “buy” rating and set a $20.00 price objective (up from $19.00) on shares of Enlight Renewable Energy in a report on Thursday, May 9th.

Enlight Renewable Energy Price Performance

The firm’s 50 day moving average price is $16.64 and its two-hundred day moving average price is $16.98. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $1.79 billion, a PE ratio of 30.29 and a beta of 1.67.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. Enlight Renewable Energy had a net margin of 23.15% and a return on equity of 4.47%. The business had revenue of $90.40 million during the quarter, compared to analyst estimates of $79.31 million. During the same period in the previous year, the business earned $0.20 EPS. Enlight Renewable Energy’s revenue was up 27.3% compared to the same quarter last year. On average, research analysts expect that Enlight Renewable Energy Ltd will post 0.25 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ENLT. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Enlight Renewable Energy in the fourth quarter worth about $217,000. Tidal Investments LLC purchased a new position in Enlight Renewable Energy during the first quarter valued at approximately $254,000. Capstone Investment Advisors LLC increased its holdings in Enlight Renewable Energy by 9.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the company’s stock worth $369,000 after acquiring an additional 1,800 shares during the period. Quadrature Capital Ltd bought a new stake in Enlight Renewable Energy during the 1st quarter worth approximately $377,000. Finally, Swiss National Bank grew its holdings in shares of Enlight Renewable Energy by 1.3% during the first quarter. Swiss National Bank now owns 236,337 shares of the company’s stock worth $3,954,000 after purchasing an additional 3,045 shares in the last quarter. Institutional investors 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.