Enlight Renewable Energy (NASDAQ:ENLT) Stock Price Down 2%

Enlight Renewable Energy Ltd (NASDAQ:ENLT)’s stock price traded down 2% on Tuesday . The company traded as low as $17.30 and last traded at $17.30. 3,398 shares were traded during mid-day trading, a decline of 93% from the average session volume of 50,795 shares. The stock had previously closed at $17.65.

Analyst Ratings Changes

Separately, Mizuho raised their target price on shares of Enlight Renewable Energy from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, January 3rd.

Enlight Renewable Energy Price Performance

The firm has a 50-day simple moving average of $17.30 and a 200-day simple moving average of $16.55. The firm has a market cap of $2.00 billion and a P/E ratio of 30.37. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.48.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.05). The company had revenue of $73.83 million for the quarter, compared to the consensus estimate of $85.36 million. Enlight Renewable Energy had a net margin of 27.74% and a return on equity of 5.09%. As a group, analysts forecast that Enlight Renewable Energy Ltd will post 0.36 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC purchased a new position in Enlight Renewable Energy in the first quarter worth $32,000. Legal & General Group Plc increased its position 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 buying an additional 2,676 shares in the last quarter. Deutsche Bank AG purchased a new stake in Enlight Renewable Energy in the first quarter valued at about $106,000. Tower Research Capital LLC TRC acquired a new stake in Enlight Renewable Energy in the second quarter worth about $130,000. Finally, Mariner LLC purchased a new stake in shares of Enlight Renewable Energy during the third quarter worth about $165,000. Institutional investors own 38.89% of the company’s stock.

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.