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

Shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT) gapped down before the market opened on Thursday . The stock had previously closed at $17.10, but opened at $16.68. Enlight Renewable Energy shares last traded at $16.67, with a volume of 4,816 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Barclays boosted 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 report on Friday, November 15th.

Enlight Renewable Energy Price Performance

The stock’s 50-day simple moving average is $16.45 and its 200 day simple moving average is $16.12. 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 company has a market cap of $1.95 billion, a price-to-earnings ratio of 38.25 and a beta of 1.53.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its earnings results on Wednesday, November 13th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. The company had revenue of $109.50 million for the quarter, compared to analysts’ expectations of $83.09 million. Enlight Renewable Energy had a net margin of 13.58% and a return on equity of 3.34%. Enlight Renewable Energy’s revenue for the quarter was up 87.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.13 earnings per share. On average, equities research analysts anticipate that Enlight Renewable Energy Ltd will post 0.07 EPS for the current fiscal year.

Institutional Trading of Enlight Renewable Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Advisors Asset Management Inc. increased its stake in Enlight Renewable Energy by 1,181.5% during the third 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 period. Susquehanna International Group Ltd. purchased a new stake in Enlight Renewable Energy during the second quarter worth about $253,000. Tidal Investments LLC increased its stake in Enlight Renewable Energy by 11.3% during the third quarter. Tidal Investments LLC now owns 18,241 shares of the company’s stock worth $308,000 after purchasing an additional 1,852 shares during the period. Barclays PLC increased its stake in Enlight Renewable Energy by 4,278.2% during the third quarter. Barclays PLC now owns 25,525 shares of the company’s stock worth $432,000 after purchasing an additional 24,942 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in Enlight Renewable Energy during the third quarter worth about $655,000. 38.89% of the stock is currently 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.