Enlight Renewable Energy (NASDAQ:ENLT) Stock Price Down 9.3% – What’s Next?

Enlight Renewable Energy Ltd (NASDAQ:ENLT) fell 9.3% during mid-day trading on Wednesday . The stock traded as low as $14.94 and last traded at $14.94. 7,091 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 26,253 shares. The stock had previously closed at $16.48.

Wall Street Analyst Weigh In

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

Enlight Renewable Energy Price Performance

The company has a debt-to-equity ratio of 1.59, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market capitalization of $1.75 billion, a PE ratio of 33.56 and a beta of 1.71. The company has a 50-day moving average price of $15.96 and a 200-day moving average price of $16.36.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.07. The company had revenue of $84.70 million for the quarter, compared to analysts’ expectations of $76.23 million. Enlight Renewable Energy had a net margin of 18.61% and a return on equity of 3.97%. The firm’s revenue for the quarter was up 61.0% compared to the same quarter last year. During the same period last year, the company earned $0.12 EPS. Sell-side analysts forecast 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 bought and sold shares of ENLT. Susquehanna International Group Ltd. acquired a new stake in shares of Enlight Renewable Energy in the second quarter worth approximately $253,000. Tidal Investments LLC purchased a new position in shares of Enlight Renewable Energy in the 1st quarter valued at $254,000. Capstone Investment Advisors LLC increased its holdings in Enlight Renewable Energy by 9.0% in the 1st 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 stake in shares of Enlight Renewable Energy in the first quarter valued at about $377,000. Finally, Swiss National Bank boosted its holdings in Enlight Renewable Energy by 1.3% in the 1st quarter. Swiss National Bank now owns 236,337 shares of the company’s stock worth $3,954,000 after acquiring an additional 3,045 shares during the period. Institutional investors and hedge funds 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.