Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Down to $16.90

Enlight Renewable Energy Ltd (NASDAQ:ENLT) shares gapped down prior to trading on Tuesday . The stock had previously closed at $16.90, but opened at $16.28. Enlight Renewable Energy shares last traded at $16.12, with a volume of 1,786 shares.

Analyst Upgrades and Downgrades

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

Enlight Renewable Energy Stock Performance

The firm’s 50 day simple moving average is $16.00 and its 200-day simple moving average is $16.53. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 33.14 and a beta of 1.69. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.59.

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 return on equity of 3.97% and a net margin of 18.61%. The firm had revenue of $84.70 million for the quarter, compared to analyst estimates of $76.23 million. During the same period in the previous year, the firm earned $0.12 earnings per share. Enlight Renewable Energy’s quarterly revenue was up 61.0% on a year-over-year basis. Analysts expect that Enlight Renewable Energy Ltd will post 0.26 EPS for the current year.

Institutional Trading of Enlight Renewable Energy

A number of hedge funds have recently made changes to their positions in the stock. Susquehanna International Group Ltd. acquired a new position in Enlight Renewable Energy in the 2nd quarter valued at approximately $253,000. Tidal Investments LLC purchased a new stake in shares of Enlight Renewable Energy during the first quarter worth $254,000. Capstone Investment Advisors LLC grew its stake in Enlight Renewable Energy by 9.0% in the first quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the company’s stock valued at $369,000 after purchasing an additional 1,800 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Enlight Renewable Energy in the 1st quarter worth about $377,000. Finally, Swiss National Bank raised its stake 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 worth $3,954,000 after purchasing an additional 3,045 shares in the last quarter. 38.89% of the stock is owned by hedge funds and other 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.