Enlight Renewable Energy (NASDAQ:ENLT) Hits New 52-Week Low – Time to Sell?

Shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT) hit a new 52-week low during trading on Thursday . The stock traded as low as $14.01 and last traded at $15.20, with a volume of 121056 shares trading hands. The stock had previously closed at $15.02.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Enlight Renewable Energy in a report on Thursday, March 6th. They set a “buy” rating and a $22.00 price target on the stock. 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, Wolfe Research lowered Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.25.

Enlight Renewable Energy Trading Up 3.0 %

The company has a debt-to-equity ratio of 1.98, a current ratio of 1.22 and a quick ratio of 0.53. The stock’s 50-day moving average is $16.47 and its two-hundred day moving average is $16.34. The company has a market cap of $1.72 billion, a P/E ratio of 41.33 and a beta of 1.26.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ENLT. Public Employees Retirement System of Ohio lifted its stake in shares of Enlight Renewable Energy by 2.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 39,872 shares of the company’s stock worth $690,000 after purchasing an additional 947 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Enlight Renewable Energy by 9.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 336,224 shares of the company’s stock worth $5,798,000 after acquiring an additional 28,792 shares during the period. USS Investment Management Ltd purchased a new position in shares of Enlight Renewable Energy during the 4th quarter worth $985,000. Deutsche Bank AG increased its stake in shares of Enlight Renewable Energy by 0.6% in the 4th quarter. Deutsche Bank AG now owns 425,693 shares of the company’s stock worth $7,343,000 after purchasing an additional 2,748 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in Enlight Renewable Energy during the fourth quarter valued at $196,000. 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.