Enlight Renewable Energy (NASDAQ:ENLT) Trading Down 10.3% - Should You Sell?

Key Points

• Enlight Renewable Energy (ENLT) fell 10.3% intraday to about $84 from a $93.60 close, with ~76,078 shares trading—around 48% below its average daily volume.
• Analysts are mixed (three Buy, two Hold, two Sell), producing an average rating of Hold and an average price target of $60.17, well below the current share price.
• Key fundamentals show high leverage and valuation: debt-to-equity of 2.03, P/E of 197.89, market cap ≈ $10.1B; latest quarter delivered $0.16 EPS on $156.5M revenue and analysts expect ~0.46 EPS for the year.

Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Get Free Report) dropped 10.3% during mid-day trading on Thursday . The company traded as low as $85.00 and last traded at $83.9610. Approximately 76,078 shares were traded during trading, a decline of 48% from the average daily volume of 147,365 shares. The stock had previously closed at $93.60.

Analysts Set New Price Targets

ENLT has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. UBS Group lifted their target price on Enlight Renewable Energy from $93.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft set a $65.00 target price on Enlight Renewable Energy and gave the stock a "hold" rating in a research report on Thursday, April 9th. Mizuho set a $37.00 price objective on Enlight Renewable Energy in a report on Monday, February 23rd. Finally, Barclays reissued an "overweight" rating on shares of Enlight Renewable Energy in a report on Wednesday, February 18th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $60.17.

Enlight Renewable Energy Stock Performance

The company has a debt-to-equity ratio of 2.03, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $10.09 billion, a P/E ratio of 197.89, a price-to-earnings-growth ratio of 11.41 and a beta of 1.51. The company has a fifty day moving average of $76.05 and a two-hundred day moving average of $56.86.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.16 earnings per share for the quarter. The firm had revenue of $156.49 million during the quarter. Enlight Renewable Energy had a return on equity of 2.67% and a net margin of 9.47%. On average, equities analysts anticipate that Enlight Renewable Energy Ltd. will post 0.46 EPS for the current year.

Hedge Funds Weigh In On Enlight Renewable Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of ENLT. Y.D. More Investments Ltd boosted its stake in Enlight Renewable Energy by 50.5% in the third quarter. Y.D. More Investments Ltd now owns 5,584,817 shares of the company's stock valued at $172,143,000 after acquiring an additional 1,875,084 shares during the period. Clal Insurance Enterprises Holdings Ltd boosted its stake in Enlight Renewable Energy by 19.9% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 9,890,141 shares of the company's stock valued at $448,589,000 after acquiring an additional 1,643,110 shares during the period. Vanguard Group Inc. boosted its stake in Enlight Renewable Energy by 11.3% in the fourth quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company's stock valued at $225,058,000 after acquiring an additional 503,060 shares during the period. Norges Bank acquired a new position in Enlight Renewable Energy in the fourth quarter valued at approximately $17,875,000. Finally, Assenagon Asset Management S.A. boosted its stake in Enlight Renewable Energy by 121.2% in the first quarter. Assenagon Asset Management S.A. now owns 505,792 shares of the company's stock valued at $33,527,000 after acquiring an additional 277,179 shares during the period. 38.89% of the stock is currently owned by institutional investors and hedge funds.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd. NASDAQ: ENLT is an independent power producer specializing in the development, financing, construction and operation of renewable energy assets. The company's portfolio encompasses utility-scale solar photovoltaic (PV) farms, onshore wind farms and energy storage facilities. By providing end-to-end project management—from site identification and feasibility studies through engineering procurement and construction (EPC) to long-term operations and maintenance—Enlight seeks to deliver reliable clean power under long-term power purchase agreements (PPAs).

Founded in 2008 and headquartered in Tel Aviv, Enlight has pursued an international growth strategy with operational and development projects in Israel and Western Europe.

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