Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Down to $16.10

Enlight Renewable Energy Ltd (NASDAQ:ENLT)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $16.10, but opened at $15.62. Enlight Renewable Energy shares last traded at $15.62, with a volume of 1,308 shares.

Analyst Ratings Changes

Separately, Roth Mkm reiterated a “buy” rating and set a $20.00 price target on shares of Enlight Renewable Energy in a report on Wednesday, August 14th.

Enlight Renewable Energy Stock Down 3.2 %

The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.60. The company has a 50-day simple moving average of $16.06 and a 200 day simple moving average of $16.76. The company has a market cap of $1.80 billion, a P/E ratio of 30.57 and a beta of 1.68.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.07. The company had revenue of $84.70 million for the quarter, compared to the consensus estimate of $76.23 million. Enlight Renewable Energy had a net margin of 23.15% and a return on equity of 4.47%. The firm’s revenue was up 61.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.12 EPS. On average, equities analysts anticipate that Enlight Renewable Energy Ltd will post 0.25 EPS for the current year.

Hedge Funds Weigh In On Enlight Renewable Energy

Several institutional investors have recently bought and sold shares of ENLT. Y.D. More Investments Ltd raised its stake in shares of 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 acquiring an additional 1,955,345 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd grew its stake in Enlight Renewable Energy by 16.2% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 7,936,313 shares of the company’s stock worth $155,473,000 after buying an additional 1,105,929 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Enlight Renewable Energy by 277.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 580,673 shares of the company’s stock valued at $9,752,000 after buying an additional 426,881 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in Enlight Renewable Energy by 3.4% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,542,307 shares of the company’s stock valued at $43,016,000 after buying an additional 83,400 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings 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 worth $67,704,000 after acquiring an additional 29,249 shares in the last quarter. 38.89% of the stock is owned by hedge funds and other 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.