Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Down to $16.73

Enlight Renewable Energy Ltd (NASDAQ:ENLT)’s share price gapped down before the market opened on Monday . The stock had previously closed at $16.73, but opened at $15.82. Enlight Renewable Energy shares last traded at $15.82, with a volume of 1,660 shares changing hands.

Analyst Upgrades and Downgrades

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

Enlight Renewable Energy Price Performance

The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.59. The business’s 50-day moving average is $16.08 and its two-hundred day moving average is $16.61. The company has a market capitalization of $1.82 billion, a P/E ratio of 30.84 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 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.07. Enlight Renewable Energy had a net margin of 18.61% and a return on equity of 3.97%. The company had revenue of $84.70 million during the quarter, compared to analyst estimates of $76.23 million. During the same quarter in the prior year, the business earned $0.12 earnings per share. The firm’s revenue for the quarter was up 61.0% on a year-over-year basis. As a group, analysts predict that Enlight Renewable Energy Ltd will post 0.26 earnings per share for the current year.

Hedge Funds Weigh In On Enlight Renewable Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ENLT. Vanguard Personalized Indexing Management LLC purchased a new position in Enlight Renewable Energy during the 4th quarter valued at about $217,000. Tidal Investments LLC purchased a new position in shares of Enlight Renewable Energy in the 1st quarter worth about $254,000. Susquehanna International Group Ltd. bought a new position in Enlight Renewable Energy during the second quarter valued at approximately $253,000. Capstone Investment Advisors LLC grew its holdings in shares of Enlight Renewable Energy by 10.5% during the 4th quarter. Capstone Investment Advisors LLC now owns 20,000 shares of the company’s stock valued at $383,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of Enlight Renewable Energy during the first quarter valued at about $377,000. Institutional investors own 38.89% of the company’s stock.

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.