Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Up to $15.92

Shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT) gapped up prior to trading on Monday . The stock had previously closed at $15.92, but opened at $16.48. Enlight Renewable Energy shares last traded at $16.35, with a volume of 2,326 shares traded.

Analyst Ratings Changes

ENLT has been the subject of several research analyst reports. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $16.00 price objective (down from $19.00) on shares of Enlight Renewable Energy in a research report on Monday, April 8th. Barclays lowered their price objective on Enlight Renewable Energy from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. Finally, Mizuho raised their target price on Enlight Renewable Energy from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, January 3rd.

Enlight Renewable Energy Stock Performance

The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.14 and a current ratio of 1.14. The company has a 50 day moving average price of $17.03 and a 200 day moving average price of $16.57. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 29.30 and a beta of 1.84.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its earnings results on Monday, February 26th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.05). The firm had revenue of $73.83 million during the quarter, compared to analyst estimates of $85.36 million. Enlight Renewable Energy had a net margin of 27.74% and a return on equity of 5.05%. Equities research analysts predict that Enlight Renewable Energy Ltd will post 0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enlight Renewable Energy

Hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC acquired a new position in Enlight Renewable Energy during the 1st quarter valued at about $32,000. Legal & General Group Plc boosted its stake in Enlight Renewable Energy by 1,250.5% during the 3rd quarter. Legal & General Group Plc now owns 2,890 shares of the company’s stock valued at $46,000 after purchasing an additional 2,676 shares during the last quarter. Deutsche Bank AG acquired a new position in Enlight Renewable Energy during the 1st quarter valued at about $106,000. Tower Research Capital LLC TRC acquired a new position in Enlight Renewable Energy during the 2nd quarter valued at about $130,000. Finally, Sandia Investment Management LP acquired a new position in Enlight Renewable Energy during the 1st quarter valued at about $169,000. Institutional investors and hedge funds own 38.89% of the company’s stock.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd operates as a renewable energy platform in Israel and internationally. The company initiates, plans, develops, constructs, and operates projects to produce electricity from renewable energy sources. It develops wind energy and solar energy projects, as well as energy storage projects.