Enlight Renewable Energy (NASDAQ:ENLT) Lowered to Peer Perform Rating by Wolfe Research

Wolfe Research downgraded shares of Enlight Renewable Energy (NASDAQ:ENLT) from an outperform rating to a peer perform rating in a report published on Thursday, MarketBeat.com reports.

Several other analysts have also issued reports on the company. JPMorgan Chase & Co. increased their target price on Enlight Renewable Energy from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Barclays increased their price objective on shares of Enlight Renewable Energy from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th.

Enlight Renewable Energy Price Performance

Shares of Enlight Renewable Energy stock opened at $18.02 on Thursday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 40.96 and a beta of 1.51. Enlight Renewable Energy has a twelve month low of $14.09 and a twelve month high of $18.48. The company has a 50-day simple moving average of $16.74 and a two-hundred day simple moving average of $16.27.

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 analysts’ consensus estimates of ($0.13) by $0.17. The company had revenue of $114.21 million during the quarter, compared to the consensus estimate of $289.04 million. Enlight Renewable Energy had a net margin of 13.58% and a return on equity of 3.34%. Analysts forecast that Enlight Renewable Energy will post 0.07 EPS for the current year.

Institutional Investors Weigh In On Enlight Renewable Energy

Large investors have recently modified their holdings of the business. Y.D. More Investments Ltd lifted its position in shares of Enlight Renewable Energy by 18.6% during the 4th quarter. Y.D. More Investments Ltd now owns 3,068,179 shares of the company’s stock worth $53,043,000 after buying an additional 482,129 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in Enlight Renewable Energy during the third quarter worth about $4,901,000. Barclays PLC lifted its holdings in shares of Enlight Renewable Energy by 4,278.2% in the third quarter. Barclays PLC now owns 25,525 shares of the company’s stock worth $432,000 after acquiring an additional 24,942 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Enlight Renewable Energy in the 3rd quarter valued at approximately $655,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Enlight Renewable Energy by 4.2% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,771,161 shares of the company’s stock valued at $147,885,000 after purchasing an additional 353,750 shares during the last quarter. Institutional investors and hedge funds own 38.89% of the company’s stock.

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.