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

Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $18.19, but opened at $17.04. Enlight Renewable Energy shares last traded at $17.28, with a volume of 21,419 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Enlight Renewable Energy in a report on Thursday, March 6th. They issued a "buy" rating and a $22.00 target price on the stock. Wolfe Research cut shares of Enlight Renewable Energy from an "outperform" rating to a "peer perform" rating in a report on Thursday, February 20th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Enlight Renewable Energy has an average rating of "Moderate Buy" and a consensus target price of $20.25.

Enlight Renewable Energy Stock Up 4.9%

The business's fifty day moving average price is $16.49 and its 200 day moving average price is $16.59. The company has a current ratio of 1.22, a quick ratio of 0.53 and a debt-to-equity ratio of 1.98. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 51.03 and a beta of 1.24.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.24. Enlight Renewable Energy had a net margin of 11.09% and a return on equity of 3.03%. The firm had revenue of $129.87 million for the quarter, compared to analyst estimates of $396.61 million. On average, equities analysts expect that Enlight Renewable Energy Ltd will post 0.41 EPS for the current year.

Institutional Investors Weigh In On Enlight Renewable Energy

Several institutional investors have recently made changes to their positions in the stock. Edmond DE Rothschild Holding S.A. boosted its position in shares of Enlight Renewable Energy by 51.0% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 1,850 shares of the company's stock worth $32,000 after purchasing an additional 625 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Enlight Renewable Energy by 2.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 39,872 shares of the company's stock worth $690,000 after purchasing an additional 947 shares in the last quarter. Amundi boosted its position in shares of Enlight Renewable Energy by 2.3% during the 1st quarter. Amundi now owns 74,681 shares of the company's stock worth $1,160,000 after purchasing an additional 1,647 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Enlight Renewable Energy by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 106,057 shares of the company's stock worth $1,829,000 after purchasing an additional 2,467 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Enlight Renewable Energy by 0.6% during the 4th quarter. Deutsche Bank AG now owns 425,693 shares of the company's stock worth $7,343,000 after purchasing an additional 2,748 shares in the last quarter. 38.89% of the stock is currently owned by hedge funds and other institutional investors.

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.