Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Down - Time to Sell?

Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report) shares gapped down before the market opened 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.

Analyst Upgrades and Downgrades

Several brokerages have commented 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. lifted their target price on Enlight Renewable Energy from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Finally, Barclays boosted their target price on Enlight Renewable Energy from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th.

Enlight Renewable Energy Stock Up 1.0 %

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 company has a market cap of $2.03 billion, a PE ratio of 48.92 and a beta of 1.51. The business's 50 day moving average is $16.84 and its 200-day moving average is $16.32.

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

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Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ENLT. Public Employees Retirement System of Ohio boosted its holdings in Enlight Renewable Energy by 2.4% in the fourth 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Enlight Renewable Energy by 9.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 336,224 shares of the company's stock worth $5,798,000 after buying an additional 28,792 shares during the last quarter. USS Investment Management Ltd acquired a new position in shares of Enlight Renewable Energy in the 4th quarter valued at $985,000. Deutsche Bank AG grew its position in shares of Enlight Renewable Energy by 0.6% in the 4th quarter. Deutsche Bank AG now owns 425,693 shares of the company's stock valued at $7,343,000 after buying an additional 2,748 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Enlight Renewable Energy in the 4th quarter valued at $196,000. Hedge funds and other 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.