Shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report) dropped 3.3% during trading on Wednesday . The company traded as low as $16.02 and last traded at $15.68. Approximately 1,402 shares were traded during trading, a decline of 91% from the average daily volume of 16,258 shares. The stock had previously closed at $16.21.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on ENLT shares. Deutsche Bank Aktiengesellschaft initiated coverage on Enlight Renewable Energy in a research note on Thursday, March 6th. They issued a "buy" rating and a $22.00 price objective for the company. JPMorgan Chase & Co. upped their price target on shares of Enlight Renewable Energy from $17.00 to $18.00 and gave the company a "neutral" rating in a research report on Thursday, January 23rd. Finally, Wolfe Research lowered shares of Enlight Renewable Energy from an "outperform" rating to a "peer perform" rating in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $20.25.
Read Our Latest Stock Report on Enlight Renewable Energy
Enlight Renewable Energy Price Performance
The firm has a market capitalization of $1.78 billion, a P/E ratio of 42.72 and a beta of 1.26. The company has a fifty day moving average of $16.62 and a 200 day moving average of $16.39. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.22 and a quick ratio of 0.53.
Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.17. Enlight Renewable Energy had a net margin of 11.09% and a return on equity of 3.03%. The company had revenue of $114.21 million during the quarter, compared to analysts' expectations of $289.04 million. Sell-side analysts predict that Enlight Renewable Energy Ltd will post 0.41 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in ENLT. Meitav Investment House Ltd. boosted its position in shares of Enlight Renewable Energy by 4.0% during the 4th quarter. Meitav Investment House Ltd. now owns 5,901,179 shares of the company's stock valued at $101,910,000 after purchasing an additional 229,255 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Enlight Renewable Energy by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 4,158,533 shares of the company's stock worth $71,926,000 after buying an additional 35,555 shares in the last quarter. Y.D. More Investments Ltd grew its position in shares of Enlight Renewable Energy by 18.6% during the 4th quarter. Y.D. More Investments Ltd now owns 3,068,179 shares of the company's stock worth $53,043,000 after buying an additional 482,129 shares during the period. Phoenix Financial Ltd. increased its stake in shares of Enlight Renewable Energy by 42.2% in the 4th quarter. Phoenix Financial Ltd. now owns 1,254,495 shares of the company's stock valued at $21,634,000 after acquiring an additional 372,403 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Enlight Renewable Energy by 5.7% during the 4th quarter. Legal & General Group Plc now owns 504,508 shares of the company's stock valued at $8,730,000 after acquiring an additional 27,248 shares during the period. 38.89% of the stock is owned by institutional investors.
About Enlight Renewable Energy
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Get Free Report)
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.
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