Enlight Renewable Energy (NASDAQ:ENLT) Hits New 12-Month High Following Better-Than-Expected Earnings

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) hit a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $39.33 and last traded at $38.9690, with a volume of 25812 shares trading hands. The stock had previously closed at $36.51.

The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.09. Enlight Renewable Energy had a net margin of 23.58% and a return on equity of 7.48%. Enlight Renewable Energy has set its FY 2025 guidance at EPS.

Analyst Ratings Changes

ENLT has been the subject of several recent research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Enlight Renewable Energy in a report on Thursday, October 30th. Wall Street Zen downgraded Enlight Renewable Energy from a “hold” rating to a “strong sell” rating in a research note on Sunday, August 10th. JPMorgan Chase & Co. lifted their price target on Enlight Renewable Energy from $27.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Mizuho set a $24.00 price objective on shares of Enlight Renewable Energy in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $30.00 target price on shares of Enlight Renewable Energy in a research note on Wednesday, October 1st. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $29.00.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Y.D. More Investments Ltd raised its holdings in shares of Enlight Renewable Energy by 18.0% in the 1st quarter. Y.D. More Investments Ltd now owns 3,621,516 shares of the company’s stock valued at $57,870,000 after purchasing an additional 553,337 shares in the last quarter. Vanguard Group Inc. increased its holdings in Enlight Renewable Energy by 1.7% in the first quarter. Vanguard Group Inc. now owns 4,227,862 shares of the company’s stock valued at $68,107,000 after buying an additional 69,329 shares during the last quarter. Meitav Investment House Ltd. raised its stake in Enlight Renewable Energy by 0.3% in the second quarter. Meitav Investment House Ltd. now owns 5,668,798 shares of the company’s stock valued at $128,607,000 after buying an additional 19,582 shares in the last quarter. Deutsche Bank AG lifted its holdings in Enlight Renewable Energy by 13.6% during the 1st quarter. Deutsche Bank AG now owns 483,774 shares of the company’s stock worth $7,818,000 after buying an additional 58,081 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Enlight Renewable Energy during the 1st quarter worth about $1,597,000. Hedge funds and other institutional investors own 38.89% of the company’s stock.

Enlight Renewable Energy Trading Up 6.4%

The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 42.37, a PEG ratio of 2.65 and a beta of 1.56. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.70 and a current ratio of 0.70. The company has a 50-day moving average price of $32.02 and a 200-day moving average price of $25.78.

Enlight Renewable Energy Company Profile

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.