Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Down – Time to Sell?

Enlight Renewable Energy Ltd (NASDAQ:ENLT)’s share price gapped down prior to trading on Monday . The stock had previously closed at $17.82, but opened at $17.12. Enlight Renewable Energy shares last traded at $17.02, with a volume of 5,939 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ENLT shares. Wolfe Research downgraded Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a research report on Thursday. JPMorgan Chase & Co. increased their target price on Enlight Renewable Energy from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Finally, Barclays lifted their price target on Enlight Renewable Energy from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th.

Enlight Renewable Energy Stock Performance

The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 47.32 and a beta of 1.51. The firm has a fifty day simple moving average of $16.78 and a 200 day simple moving average of $16.30. The company has a current ratio of 1.22, a quick ratio of 0.53 and a debt-to-equity ratio of 1.98.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.17. The firm had revenue of $114.21 million for the quarter, compared to the consensus estimate of $289.04 million. Enlight Renewable Energy had a net margin of 11.09% and a return on equity of 3.03%. As a group, sell-side analysts expect that Enlight Renewable Energy Ltd will post 0.41 earnings per share for the current year.

Institutional Investors Weigh In On Enlight Renewable Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Edmond DE Rothschild Holding S.A. grew its holdings in Enlight Renewable Energy by 51.0% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 1,850 shares of the company’s stock worth $32,000 after acquiring an additional 625 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Enlight Renewable Energy during the fourth quarter valued at approximately $145,000. Jane Street Group LLC bought a new position in Enlight Renewable Energy in the 4th quarter worth approximately $196,000. Advisors Asset Management Inc. raised its position in Enlight Renewable Energy by 1,181.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 14,263 shares of the company’s stock worth $241,000 after purchasing an additional 13,150 shares during the last quarter. Finally, Tidal Investments LLC boosted its position in Enlight Renewable Energy by 11.3% in the 3rd quarter. Tidal Investments LLC now owns 18,241 shares of the company’s stock valued at $308,000 after buying an additional 1,852 shares during the last quarter. 38.89% of the stock is owned by institutional investors and hedge funds.

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.