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

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on ENLT. Mizuho set a $37.00 target price on Enlight Renewable Energy in a research note on Monday, February 23rd. Barclays restated an “overweight” rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. JPMorgan Chase & Co. lifted their target price on Enlight Renewable Energy from $57.00 to $68.00 and gave the company an “underweight” rating in a research note on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. Finally, Deutsche Bank Aktiengesellschaft set a $65.00 price objective on Enlight Renewable Energy and gave the stock a “hold” rating in a research report on Thursday, April 9th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $60.17.

Enlight Renewable Energy Stock Performance

The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.03. The company has a 50-day moving average price of $76.05 and a 200-day moving average price of $56.86. The firm has a market capitalization of $10.09 billion, a price-to-earnings ratio of 197.89, a P/E/G ratio of 11.41 and a beta of 1.51.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.16 earnings per share (EPS) for the quarter. The business 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%. As a group, equities research analysts forecast that Enlight Renewable Energy Ltd. will post 0.46 earnings per share for the current year.

Institutional Investors Weigh In On Enlight Renewable Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in Enlight Renewable Energy by 256.1% during the second quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock worth $28,000 after purchasing an additional 881 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Enlight Renewable Energy during the fourth quarter worth approximately $56,000. Savant Capital LLC bought a new stake in Enlight Renewable Energy during the fourth quarter worth approximately $241,000. Jane Street Group LLC raised its holdings in Enlight Renewable Energy by 6.0% during the second quarter. Jane Street Group LLC now owns 11,366 shares of the company’s stock worth $258,000 after purchasing an additional 641 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in Enlight Renewable Energy during the fourth quarter worth approximately $277,000. Institutional investors own 38.89% of the company’s stock.

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.