Enlight Renewable Energy (NASDAQ:ENLT) Stock Price Down 8.3% – Here’s What Happened

Shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT) fell 8.3% on Wednesday . The stock traded as low as $14.95 and last traded at $14.95. 1,131 shares were traded during mid-day trading, a decline of 96% from the average session volume of 25,711 shares. The stock had previously closed at $16.31.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Roth Mkm reiterated a “buy” rating and issued a $20.00 price target on shares of Enlight Renewable Energy in a research report on Wednesday, August 14th. Barclays upped their price target on Enlight Renewable Energy from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, November 15th.

Enlight Renewable Energy Stock Down 0.8 %

The company has a debt-to-equity ratio of 1.64, a current ratio of 0.53 and a quick ratio of 0.53. The firm has a 50 day simple moving average of $15.91 and a 200-day simple moving average of $16.32. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 33.98 and a beta of 1.71.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings results on Wednesday, November 13th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $109.50 million for the quarter, compared to analysts’ expectations of $83.09 million. During the same quarter last year, the business earned $0.13 earnings per share. The firm’s quarterly revenue was up 87.8% compared to the same quarter last year. On average, sell-side analysts forecast that Enlight Renewable Energy Ltd will post 0.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Enlight Renewable Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of ENLT. Geode Capital Management LLC grew its stake in Enlight Renewable Energy by 0.9% in the third quarter. Geode Capital Management LLC now owns 103,590 shares of the company’s stock valued at $1,751,000 after purchasing an additional 907 shares in the last quarter. Advisors Asset Management Inc. raised its holdings 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 buying an additional 13,150 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Enlight Renewable Energy during the 1st quarter worth $254,000. Susquehanna International Group Ltd. acquired a new position in shares of Enlight Renewable Energy during the 2nd quarter worth $253,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Enlight Renewable Energy during the 1st quarter worth $377,000. 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.