Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Down – Here’s What Happened

Shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT) gapped down prior to trading on Wednesday . The stock had previously closed at $17.50, but opened at $16.57. Enlight Renewable Energy shares last traded at $16.65, with a volume of 7,534 shares traded.

Analyst Upgrades and Downgrades

Separately, Barclays upped their price target on shares of Enlight Renewable Energy from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, November 15th.

Enlight Renewable Energy Stock Performance

The firm has a 50 day moving average price of $16.60 and a 200 day moving average price of $16.19. The stock has a market cap of $1.94 billion, a PE ratio of 38.14 and a beta of 1.53. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.64.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings data on Wednesday, November 13th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.09. Enlight Renewable Energy had a net margin of 13.58% and a return on equity of 3.34%. The company had revenue of $109.50 million for the quarter, compared to analyst estimates of $83.09 million. During the same period last year, the company posted $0.13 earnings per share. Enlight Renewable Energy’s revenue was up 87.8% compared to the same quarter last year. As a group, research analysts forecast that Enlight Renewable Energy Ltd will post 0.07 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. acquired a new position in shares of Enlight Renewable Energy in the 3rd quarter valued at $4,901,000. Barclays PLC lifted its stake in Enlight Renewable Energy by 4,278.2% during the 3rd quarter. Barclays PLC now owns 25,525 shares of the company’s stock valued at $432,000 after acquiring an additional 24,942 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Enlight Renewable Energy in the 3rd quarter valued at about $655,000. Clal Insurance Enterprises Holdings Ltd increased its holdings in Enlight Renewable Energy by 4.2% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,771,161 shares of the company’s stock valued at $147,885,000 after buying an additional 353,750 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Enlight Renewable Energy by 0.9% in the third quarter. Geode Capital Management LLC now owns 103,590 shares of the company’s stock worth $1,751,000 after acquiring an additional 907 shares during the period. Hedge funds and other 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.