Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Down – Should You Sell?

Enlight Renewable Energy Ltd (NASDAQ:ENLT) shares gapped down prior to trading on Monday . The stock had previously closed at $17.82, but opened at $17.12. Enlight Renewable Energy shares last traded at $17.02, with a volume of 5,939 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wolfe Research downgraded Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 20th. Barclays lifted 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 report on Friday, November 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of Enlight Renewable Energy from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd.

Enlight Renewable Energy Price Performance

The firm’s 50 day moving average price is $16.81 and its two-hundred day moving average price is $16.31. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.22 and a quick ratio of 0.53. The stock has a market cap of $2.01 billion, a PE ratio of 48.31 and a beta of 1.51.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings data 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 business had revenue of $114.21 million during the quarter, compared to analyst estimates of $289.04 million. Enlight Renewable Energy had a net margin of 11.09% and a return on equity of 3.03%. On average, research analysts expect that Enlight Renewable Energy Ltd will post 0.41 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ENLT. Edmond DE Rothschild Holding S.A. boosted its position in shares of Enlight Renewable Energy by 51.0% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 1,850 shares of the company’s stock valued at $32,000 after acquiring an additional 625 shares during the period. Geode Capital Management LLC boosted its holdings in Enlight Renewable Energy by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 103,590 shares of the company’s stock valued at $1,751,000 after purchasing an additional 907 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of Enlight Renewable Energy by 2.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 39,872 shares of the company’s stock valued at $690,000 after purchasing an additional 947 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Enlight Renewable Energy by 11.3% in 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. Finally, Deutsche Bank AG raised its position in shares of Enlight Renewable Energy by 0.6% in the fourth quarter. Deutsche Bank AG now owns 425,693 shares of the company’s stock worth $7,343,000 after buying an additional 2,748 shares in the last quarter. Institutional investors 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.