Enlight Renewable Energy (NASDAQ:ENLT) Trading Down 8.3% – Here’s What Happened

Enlight Renewable Energy Ltd (NASDAQ:ENLT) shares traded down 8.3% during mid-day trading on Wednesday . The stock traded as low as $14.95 and last traded at $14.95. 1,131 shares were traded during trading, a decline of 96% from the average session volume of 25,711 shares. The stock had previously closed at $16.31.

Analyst Ratings Changes

ENLT has been the topic of several analyst reports. Barclays upped their price objective on Enlight Renewable Energy from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Roth Mkm reiterated a “buy” rating and issued a $20.00 price objective on shares of Enlight Renewable Energy in a research note on Wednesday, August 14th.

Enlight Renewable Energy Stock Performance

The stock has a 50 day moving average price of $15.90 and a two-hundred day moving average price of $16.32. 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 company has a market cap of $1.86 billion, a price-to-earnings ratio of 36.59 and a beta of 1.71.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings results on Wednesday, November 13th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. The company had revenue of $109.50 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted $0.13 EPS. Analysts predict that Enlight Renewable Energy Ltd will post 0.18 EPS for the current year.

Institutional Trading of Enlight Renewable Energy

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Enlight Renewable Energy by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 4,001,391 shares of the company’s stock worth $67,704,000 after purchasing an additional 29,249 shares in the last quarter. Quadrature Capital Ltd bought a new position in Enlight Renewable Energy during the 1st quarter worth about $377,000. Tidal Investments LLC bought a new position in Enlight Renewable Energy during the 1st quarter worth about $254,000. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Enlight Renewable Energy by 3.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,619,180 shares of the company’s stock worth $42,326,000 after purchasing an additional 76,873 shares in the last quarter. Finally, Y.D. More Investments Ltd increased its holdings in Enlight Renewable Energy by 94,919.7% during the 2nd quarter. Y.D. More Investments Ltd now owns 1,957,405 shares of the company’s stock worth $31,166,000 after purchasing an additional 1,955,345 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.