Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Down – What’s Next?

Enlight Renewable Energy Ltd (NASDAQ:ENLT)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $16.65, but opened at $16.09. Enlight Renewable Energy shares last traded at $16.09, with a volume of 557 shares traded.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm reiterated a “buy” rating and issued a $20.00 price objective on shares of Enlight Renewable Energy in a research note on Wednesday, August 14th.

Enlight Renewable Energy Price Performance

The stock has a market cap of $1.85 billion, a P/E ratio of 31.37 and a beta of 1.69. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.59. The business has a 50 day simple moving average of $16.02 and a 200-day simple moving average of $16.40.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.07. Enlight Renewable Energy had a net margin of 18.61% and a return on equity of 3.97%. The business had revenue of $84.70 million during the quarter, compared to the consensus estimate of $76.23 million. During the same quarter last year, the company posted $0.12 earnings per share. The firm’s quarterly revenue was up 61.0% compared to the same quarter last year. On average, sell-side analysts forecast that Enlight Renewable Energy Ltd will post 0.26 EPS for the current year.

Institutional Trading of Enlight Renewable Energy

Large investors have recently bought and sold shares of the company. Susquehanna International Group Ltd. purchased a new position in shares of Enlight Renewable Energy during the 2nd quarter valued at $253,000. Tidal Investments LLC bought a new stake in shares of Enlight Renewable Energy in the first quarter valued at approximately $254,000. Capstone Investment Advisors LLC boosted its holdings in Enlight Renewable Energy by 9.0% in the 1st quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the company’s stock worth $369,000 after buying an additional 1,800 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Enlight Renewable Energy during the first quarter worth $377,000. Finally, Swiss National Bank boosted its holdings in shares of Enlight Renewable Energy by 1.3% in the first quarter. Swiss National Bank now owns 236,337 shares of the company’s stock worth $3,954,000 after acquiring an additional 3,045 shares during the period. 38.89% of the stock is owned by hedge funds and other institutional investors.

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.