Enlight Renewable Energy Ltd (NASDAQ:ENLT – Get Free Report) dropped 3.3% during trading on Tuesday . The stock traded as low as $16.67 and last traded at $16.67. Approximately 5,164 shares traded hands during trading, a decline of 86% from the average daily volume of 36,471 shares. The stock had previously closed at $17.23.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the company. Barclays cut their price objective on Enlight Renewable Energy from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. Roth Mkm reiterated a “buy” rating and set a $20.00 price objective (up from $19.00) on shares of Enlight Renewable Energy in a research note on Thursday, May 9th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $16.00 price objective (down from $19.00) on shares of Enlight Renewable Energy in a research note on Monday, April 8th.
Get Our Latest Research Report on Enlight Renewable Energy
Enlight Renewable Energy Stock Down 2.4 %
Enlight Renewable Energy (NASDAQ:ENLT – Get Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.05. Enlight Renewable Energy had a return on equity of 4.47% and a net margin of 23.15%. The business had revenue of $90.40 million during the quarter, compared to the consensus estimate of $79.31 million. During the same period in the prior year, the company posted $0.20 EPS. The firm’s revenue for the quarter was up 27.3% compared to the same quarter last year. On average, equities analysts predict that Enlight Renewable Energy Ltd will post 0.25 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC bought a new position in Enlight Renewable Energy in the 4th quarter worth approximately $217,000. Tidal Investments LLC bought a new position in shares of Enlight Renewable Energy during the 1st quarter valued at approximately $254,000. Capstone Investment Advisors LLC boosted its position in shares of Enlight Renewable Energy by 9.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the company’s stock valued at $369,000 after acquiring an additional 1,800 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Enlight Renewable Energy during the 1st quarter valued at approximately $377,000. Finally, Swiss National Bank boosted its position in shares of Enlight Renewable Energy by 1.3% during the 1st quarter. Swiss National Bank now owns 236,337 shares of the company’s stock valued at $3,954,000 after acquiring an additional 3,045 shares during the last quarter. 38.89% of the stock is currently owned by 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.
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