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

Enlight Renewable Energy Ltd (NASDAQ:ENLT)’s stock price gapped up before the market opened 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 trading hands.

Analyst Ratings Changes

Several brokerages have recently commented on ENLT. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $16.00 price objective (down from $19.00) on shares of Enlight Renewable Energy in a research note on Monday, April 8th. Barclays lowered their price objective on shares of Enlight Renewable Energy from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. Finally, Mizuho upped their price objective on shares of 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 Trading Up 3.5 %

The company has a market capitalization of $1.93 billion, a P/E ratio of 29.30 and a beta of 1.84. The stock’s 50 day moving average is $17.03 and its 200-day moving average is $16.57. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.14 and a quick ratio of 1.14.

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

Hedge Funds Weigh In On Enlight Renewable Energy

A number of institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC bought a new position in Enlight Renewable Energy in the first quarter worth about $32,000. Capstone Investment Advisors LLC raised its stake in Enlight Renewable Energy by 10.5% in the fourth quarter. Capstone Investment Advisors LLC now owns 20,000 shares of the company’s stock worth $383,000 after buying an additional 1,900 shares in the last quarter. Legal & General Group Plc raised its stake in Enlight Renewable Energy by 1,250.5% in the third quarter. Legal & General Group Plc now owns 2,890 shares of the company’s stock worth $46,000 after buying an additional 2,676 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Enlight Renewable Energy by 1.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 422,381 shares of the company’s stock worth $6,560,000 after purchasing an additional 4,415 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Enlight Renewable Energy by 5.4% in the second quarter. Geode Capital Management LLC now owns 90,581 shares of the company’s stock worth $1,608,000 after purchasing an additional 4,608 shares during the period. 38.89% of the stock is owned by institutional investors.

About Enlight Renewable Energy

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.