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

Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report)'s share price 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 traded.

Wall Street Analysts Forecast Growth

Separately, Barclays increased their price objective on Enlight Renewable Energy from $20.00 to $21.00 and gave the company an "overweight" rating in a research note on Friday, November 15th.

Enlight Renewable Energy Stock Up 3.0 %

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 $1.98 billion, a PE ratio of 38.86 and a beta of 1.53. The business's 50 day moving average is $16.48 and its 200-day moving average is $16.12.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last announced its quarterly earnings data on Wednesday, November 13th. The company reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.09. The business had revenue of $109.50 million for the quarter, compared to analyst estimates of $83.09 million. Enlight Renewable Energy had a net margin of 13.58% and a return on equity of 3.34%. The company's revenue was up 87.8% on a year-over-year basis. During the same period last year, the business earned $0.13 EPS. As a group, analysts predict that Enlight Renewable Energy Ltd will post 0.07 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ENLT. Advisors Asset Management Inc. lifted 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 last quarter. Susquehanna International Group Ltd. acquired a new stake in Enlight Renewable Energy during the second quarter worth approximately $253,000. Tidal Investments LLC lifted its position in shares of Enlight Renewable Energy by 11.3% during the 3rd quarter. Tidal Investments LLC now owns 18,241 shares of the company's stock worth $308,000 after buying an additional 1,852 shares during the last quarter. Barclays PLC boosted its holdings in shares of Enlight Renewable Energy by 4,278.2% in the 3rd quarter. Barclays PLC now owns 25,525 shares of the company's stock valued at $432,000 after buying an additional 24,942 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Enlight Renewable Energy in the 3rd quarter valued at $655,000. 38.89% of the stock is owned by institutional investors and hedge funds.

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.