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

Shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $17.69, but opened at $17.00. Enlight Renewable Energy shares last traded at $17.01, with a volume of 810 shares trading hands.

Analysts Set New Price Targets

Several brokerages recently commented on ENLT. Deutsche Bank Aktiengesellschaft began coverage on Enlight Renewable Energy in a research note on Thursday, March 6th. They issued a "buy" rating and a $22.00 price target on the stock. Wolfe Research lowered Enlight Renewable Energy from an "outperform" rating to a "peer perform" rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. boosted their price target on Enlight Renewable Energy from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Enlight Renewable Energy has a consensus rating of "Moderate Buy" and an average target price of $20.25.

Enlight Renewable Energy Trading Down 0.7 %

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 $1.87 billion, a price-to-earnings ratio of 44.92 and a beta of 1.38. The business has a 50 day simple moving average of $16.80 and a 200 day simple moving average of $16.39.

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

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Institutional Investors Weigh In On Enlight Renewable Energy

A number of institutional investors and hedge funds have recently made changes to their positions in ENLT. Edmond DE Rothschild Holding S.A. raised its position in shares of 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 worth $32,000 after acquiring an additional 625 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Enlight Renewable Energy in the fourth quarter valued at about $145,000. Jane Street Group LLC bought a new stake in Enlight Renewable Energy in the fourth quarter valued at about $196,000. Advisors Asset Management Inc. increased its holdings 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 valued at $241,000 after purchasing an additional 13,150 shares during the last quarter. Finally, Tidal Investments LLC increased its holdings in Enlight Renewable Energy by 11.3% in the third quarter. Tidal Investments LLC now owns 18,241 shares of the company's stock valued at $308,000 after purchasing an additional 1,852 shares during the last quarter. 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.