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

Enlight Renewable Energy Ltd (NASDAQ:ENLT) shares gapped down prior to trading on Tuesday . The stock had previously closed at $17.69, but opened at $17.00. Enlight Renewable Energy shares last traded at $17.01, with a volume of 810 shares.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ENLT shares. JPMorgan Chase & Co. boosted their price target on Enlight Renewable Energy from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Enlight Renewable Energy in a report on Thursday, March 6th. They set a “buy” rating and a $22.00 price target on the stock. Finally, Wolfe Research lowered shares of Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Enlight Renewable Energy presently has an average rating of “Moderate Buy” and a consensus price target of $20.25.

Enlight Renewable Energy Trading Down 3.4 %

The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 47.44 and a beta of 1.38. The company’s 50-day moving average price is $16.83 and its 200-day moving average price is $16.39. The company has a quick ratio of 0.53, a current ratio of 1.22 and a debt-to-equity ratio of 1.98.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.17. Enlight Renewable Energy had a return on equity of 3.03% and a net margin of 11.09%. The company had revenue of $114.21 million for the quarter, compared to analysts’ expectations of $289.04 million. Equities analysts expect that Enlight Renewable Energy Ltd will post 0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ENLT. Edmond DE Rothschild Holding S.A. boosted its stake in Enlight Renewable Energy by 51.0% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 1,850 shares of the company’s stock worth $32,000 after buying an additional 625 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Enlight Renewable Energy by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 103,590 shares of the company’s stock worth $1,751,000 after buying an additional 907 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Enlight Renewable Energy by 2.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 39,872 shares of the company’s stock valued at $690,000 after buying an additional 947 shares during the period. Tidal Investments LLC lifted its holdings in Enlight Renewable Energy by 11.3% in the third quarter. Tidal Investments LLC now owns 18,241 shares of the company’s stock valued at $308,000 after acquiring an additional 1,852 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in Enlight Renewable Energy by 0.6% in the fourth quarter. Deutsche Bank AG now owns 425,693 shares of the company’s stock valued at $7,343,000 after acquiring an additional 2,748 shares during the last quarter. 38.89% of the stock is owned by hedge funds and other institutional investors.

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.