Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Down – Should You Sell?

Enlight Renewable Energy Ltd (NASDAQ:ENLT)’s share price 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 changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wolfe Research cut shares of Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. lifted their target price on shares of 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 assumed coverage on Enlight Renewable Energy in a research report on Thursday, March 6th. They set a “buy” rating and a $22.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Enlight Renewable Energy presently has an average rating of “Moderate Buy” and a consensus price target of $20.25.

Enlight Renewable Energy Trading Down 0.2 %

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 firm’s 50 day simple moving average is $16.82 and its two-hundred day simple moving average is $16.39. The stock has a market capitalization of $1.96 billion, a P/E ratio of 47.17 and a beta of 1.38.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings data 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. The firm had revenue of $114.21 million for 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 forecast that Enlight Renewable Energy Ltd will post 0.41 earnings per share for the current fiscal year.

Institutional Trading of Enlight Renewable Energy

Large investors have recently modified their holdings of the business. Y.D. More Investments Ltd increased its stake in Enlight Renewable Energy by 18.6% in the 4th quarter. Y.D. More Investments Ltd now owns 3,068,179 shares of the company’s stock worth $53,043,000 after purchasing an additional 482,129 shares during the period. Phoenix Financial Ltd. boosted its stake in Enlight Renewable Energy by 42.2% during the 4th quarter. Phoenix Financial Ltd. now owns 1,254,495 shares of the company’s stock valued at $21,634,000 after purchasing an additional 372,403 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its holdings in Enlight Renewable Energy by 4.2% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,771,161 shares of the company’s stock worth $147,885,000 after purchasing an additional 353,750 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Enlight Renewable Energy during the 3rd quarter valued at $4,901,000. Finally, Meitav Investment House Ltd. lifted its holdings in Enlight Renewable Energy by 4.0% during the fourth 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. 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.