Enlight Renewable Energy (NASDAQ:ENLT) Reaches New 12-Month Low - Here's What Happened

Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report)'s stock price reached a new 52-week low on Thursday . The stock traded as low as $14.01 and last traded at $15.20, with a volume of 121056 shares trading hands. The stock had previously closed at $15.02.

Analyst Ratings Changes

A number of brokerages recently weighed in on ENLT. Wolfe Research cut shares of Enlight Renewable Energy from an "outperform" rating to a "peer perform" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. upped their target price on Enlight Renewable Energy from $17.00 to $18.00 and gave the stock a "neutral" rating in a research report on Thursday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft began coverage on Enlight Renewable Energy in a report on Thursday, March 6th. They set a "buy" rating and a $22.00 target price on the stock. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $20.25.

Enlight Renewable Energy Trading Up 0.1 %

The business's 50-day simple moving average is $16.43 and its two-hundred day simple moving average is $16.34. 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 company has a market capitalization of $1.76 billion, a PE ratio of 42.29 and a beta of 1.26.

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

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Institutional Trading of Enlight Renewable Energy

A number of hedge funds have recently made changes to their positions in the stock. Meitav Investment House Ltd. boosted its stake in Enlight Renewable Energy by 4.0% during the 4th quarter. Meitav Investment House Ltd. now owns 5,901,179 shares of the company's stock valued at $101,910,000 after acquiring an additional 229,255 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Enlight Renewable Energy by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 4,158,533 shares of the company's stock valued at $71,926,000 after purchasing an additional 35,555 shares in the last quarter. Y.D. More Investments Ltd lifted its position in shares of Enlight Renewable Energy by 18.6% during the fourth quarter. Y.D. More Investments Ltd now owns 3,068,179 shares of the company's stock worth $53,043,000 after purchasing an additional 482,129 shares during the last quarter. Phoenix Financial Ltd. grew its stake in Enlight Renewable Energy by 42.2% in the fourth quarter. Phoenix Financial Ltd. now owns 1,254,495 shares of the company's stock worth $21,634,000 after purchasing an additional 372,403 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Enlight Renewable Energy by 5.7% in the fourth quarter. Legal & General Group Plc now owns 504,508 shares of the company's stock valued at $8,730,000 after buying an additional 27,248 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.