Enlight Renewable Energy (NASDAQ:ENLT) Stock Price Down 4.4% - Here's Why

Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report) shares traded down 4.4% on Thursday . The company traded as low as $16.29 and last traded at $16.24. 2,168 shares were traded during trading, a decline of 87% from the average session volume of 17,226 shares. The stock had previously closed at $16.98.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wolfe Research downgraded 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 price target on Enlight Renewable Energy from $17.00 to $18.00 and gave the stock a "neutral" rating in a report on Thursday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Enlight Renewable Energy in a research report on Thursday, March 6th. They set a "buy" rating and a $22.00 price target on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $20.25.

Enlight Renewable Energy Price Performance

The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 44.31 and a beta of 1.38. The company has a quick ratio of 0.53, a current ratio of 1.22 and a debt-to-equity ratio of 1.98. The stock has a fifty day moving average of $16.80 and a 200-day moving average of $16.39.

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Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $289.04 million. On average, equities research analysts predict that Enlight Renewable Energy Ltd will post 0.41 EPS for the current fiscal year.

Institutional Trading of Enlight Renewable Energy

Large investors have recently bought and sold shares of the company. Advisors Asset Management Inc. increased its stake in shares of Enlight Renewable Energy by 1,181.5% during the 3rd 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. Public Employees Retirement System of Ohio purchased a new stake in shares of Enlight Renewable Energy in the third quarter valued at $655,000. Barclays PLC boosted its stake in shares of Enlight Renewable Energy by 4,278.2% during the third quarter. Barclays PLC now owns 25,525 shares of the company's stock valued at $432,000 after acquiring an additional 24,942 shares during the last quarter. Geode Capital Management LLC increased its position in Enlight Renewable Energy by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 103,590 shares of the company's stock worth $1,751,000 after purchasing an additional 907 shares in the last quarter. Finally, Tidal Investments LLC raised its stake in Enlight Renewable Energy by 11.3% in the 3rd 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 and hedge funds 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.