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

Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $16.37, but opened at $15.71. Enlight Renewable Energy shares last traded at $15.75, with a volume of 836 shares changing hands.

Analyst Ratings Changes

Separately, Barclays raised their price target on Enlight Renewable Energy from $20.00 to $21.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th.

Enlight Renewable Energy Stock Down 1.8 %

The firm has a market cap of $1.79 billion, a PE ratio of 35.14 and a beta of 1.69. The company has a 50-day simple moving average of $16.02 and a 200-day simple moving average of $16.09. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.53 and a quick ratio of 0.53.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last posted its quarterly earnings data on Wednesday, November 13th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.09. Enlight Renewable Energy had a return on equity of 3.34% and a net margin of 13.58%. The company had revenue of $109.50 million during the quarter, compared to analysts' expectations of $83.09 million. During the same quarter in the previous year, the business earned $0.13 EPS. Enlight Renewable Energy's revenue was up 87.8% compared to the same quarter last year. Analysts expect that Enlight Renewable Energy Ltd will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd grew its stake in Enlight Renewable Energy by 94,919.7% in the 2nd quarter. Y.D. More Investments Ltd now owns 1,957,405 shares of the company's stock worth $31,166,000 after acquiring an additional 1,955,345 shares in the last quarter. Susquehanna International Group Ltd. purchased a new stake in shares of Enlight Renewable Energy in the second quarter valued at approximately $253,000. Advisors Asset Management Inc. grew its stake in Enlight Renewable Energy by 1,181.5% in 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 in the last quarter. Clal Insurance Enterprises Holdings Ltd increased its holdings in Enlight Renewable Energy by 4.2% during 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. Finally, Public Employees Retirement System of Ohio bought a new stake in Enlight Renewable Energy during the 3rd quarter valued at $655,000. Hedge funds and other institutional investors 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.