Enlight Renewable Energy Ltd (NASDAQ:ENLT – Get Free Report)’s share price gapped down before the market opened on Monday . The stock had previously closed at $16.16, but opened at $15.17. Enlight Renewable Energy shares last traded at $15.16, with a volume of 5,861 shares.
Analysts Set New Price Targets
Several research analysts have issued reports on the company. Barclays dropped 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.
Read Our Latest Research Report on ENLT
Enlight Renewable Energy Stock Performance
Enlight Renewable Energy (NASDAQ:ENLT – Get Free Report) last announced its earnings results 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 return on equity of 4.47% and a net margin of 23.15%. The company had revenue of $90.40 million during the quarter, compared to analyst estimates of $79.31 million. During the same period last year, the company posted $0.20 earnings per share. The firm’s quarterly revenue was up 27.3% compared to the same quarter last year. On average, analysts predict that Enlight Renewable Energy Ltd will post 0.25 EPS for the current fiscal year.
Institutional Trading of Enlight Renewable Energy
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd increased its position in Enlight Renewable Energy by 16.2% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 7,936,313 shares of the company’s stock worth $155,473,000 after purchasing an additional 1,105,929 shares during the period. Vanguard Group Inc. increased its position 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 purchasing an additional 29,249 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its position 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 worth $43,016,000 after purchasing an additional 83,400 shares during the period. Assenagon Asset Management S.A. increased its position in Enlight Renewable Energy by 277.6% in the first quarter. Assenagon Asset Management S.A. now owns 580,673 shares of the company’s stock worth $9,752,000 after purchasing an additional 426,881 shares during the period. Finally, Swiss National Bank increased its position in Enlight Renewable Energy by 1.3% in 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 during the period. 38.89% of the stock is currently owned by institutional investors and hedge funds.
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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