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

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) was downgraded by equities research analysts at Wolfe Research from an "outperform" rating to a "peer perform" rating in a report issued on Thursday, MarketBeat reports.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of Enlight Renewable Energy from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. 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 Stock Performance

Shares of ENLT traded down $0.07 during trading hours on Thursday, hitting $17.95. The company's stock had a trading volume of 9,528 shares, compared to its average volume of 18,004. The business has a 50 day simple moving average of $16.74 and a two-hundred day simple moving average of $16.27. Enlight Renewable Energy has a 52-week low of $14.09 and a 52-week high of $18.48. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.53 and a quick ratio of 0.53. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 49.86 and a beta of 1.51.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.17. The business had revenue of $114.21 million for the quarter, compared to analysts' expectations of $289.04 million. Enlight Renewable Energy had a return on equity of 3.02% and a net margin of 11.09%. On average, equities analysts expect that Enlight Renewable Energy will post 0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Edmond DE Rothschild Holding S.A. raised its position in Enlight Renewable Energy by 51.0% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 1,850 shares of the company's stock valued at $32,000 after purchasing an additional 625 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Enlight Renewable Energy during the 4th quarter valued at about $145,000. Jane Street Group LLC purchased a new position in shares of Enlight Renewable Energy during the 4th quarter valued at about $196,000. Advisors Asset Management Inc. lifted its position in Enlight Renewable Energy by 1,181.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 14,263 shares of the company's stock worth $241,000 after buying an additional 13,150 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in 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 buying an additional 1,852 shares in the last quarter. 38.89% of the stock is currently owned by hedge funds and other institutional investors.

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.