Enlight Renewable Energy (NASDAQ:ENLT) Stock Price Down 4.4% – What’s Next?

Enlight Renewable Energy Ltd (NASDAQ:ENLT)’s share price dropped 4.4% on Thursday . The stock traded as low as $16.29 and last traded at $16.24. Approximately 2,168 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 17,226 shares. The stock had previously closed at $16.98.

Analysts Set New Price Targets

ENLT has been the subject of several research reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Enlight Renewable Energy in a research report on Thursday, March 6th. They set a “buy” rating and a $22.00 price objective for the company. JPMorgan Chase & Co. lifted 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 downgraded Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

Enlight Renewable Energy Stock Down 3.5 %

The company has a current ratio of 1.22, a quick ratio of 0.53 and a debt-to-equity ratio of 1.98. The firm’s fifty day moving average price is $16.82 and its 200-day moving average price is $16.39. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 45.53 and a beta of 1.38.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.17. Enlight Renewable Energy had a net margin of 11.09% and a return on equity of 3.03%. The company had revenue of $114.21 million during the quarter, compared to the consensus estimate of $289.04 million. Sell-side analysts predict that Enlight Renewable Energy Ltd will post 0.41 earnings per share for the current year.

Institutional Trading of Enlight Renewable Energy

Several large investors have recently made changes to their positions in the company. Y.D. More Investments Ltd increased its stake in shares of Enlight Renewable Energy by 18.6% in the fourth quarter. Y.D. More Investments Ltd now owns 3,068,179 shares of the company’s stock valued at $53,043,000 after buying an additional 482,129 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of Enlight Renewable Energy during the 3rd quarter valued at $4,901,000. Barclays PLC grew its holdings in Enlight Renewable Energy by 4,278.2% during the third quarter. Barclays PLC now owns 25,525 shares of the company’s stock valued at $432,000 after purchasing an additional 24,942 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Enlight Renewable Energy in the third quarter worth about $655,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its stake in Enlight Renewable Energy by 4.2% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,771,161 shares of the company’s stock worth $147,885,000 after purchasing an additional 353,750 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.