Enlight Renewable Energy (NASDAQ:ENLT) Issues Earnings Results, Beats Estimates By $0.09 EPS

Enlight Renewable Energy (NASDAQ:ENLT) released its quarterly earnings data on Wednesday. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.09, Zacks reports. The business had revenue of $165.06 million during the quarter, compared to analysts’ expectations of $146.04 million. Enlight Renewable Energy had a net margin of 23.58% and a return on equity of 7.48%. Enlight Renewable Energy updated its FY 2025 guidance to EPS.

Enlight Renewable Energy Price Performance

NASDAQ:ENLT traded down $1.00 during trading hours on Thursday, reaching $38.55. 8,405 shares of the company’s stock were exchanged, compared to its average volume of 24,204. The company has a 50-day moving average of $32.26 and a 200 day moving average of $25.87. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 2.10. Enlight Renewable Energy has a 1-year low of $14.01 and a 1-year high of $39.62.

Hedge Funds Weigh In On Enlight Renewable Energy

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets increased its stake in Enlight Renewable Energy by 256.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock valued at $28,000 after buying an additional 881 shares during the period. Jane Street Group LLC lifted its holdings in shares of Enlight Renewable Energy by 6.0% in the second quarter. Jane Street Group LLC now owns 11,366 shares of the company’s stock valued at $258,000 after purchasing an additional 641 shares in the last quarter. Tidal Investments LLC grew its stake in Enlight Renewable Energy by 18.8% during the 2nd quarter. Tidal Investments LLC now owns 15,943 shares of the company’s stock valued at $362,000 after acquiring an additional 2,527 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Enlight Renewable Energy in the 2nd quarter valued at approximately $815,000. Finally, Amundi lifted its holdings in shares of Enlight Renewable Energy by 2.3% during the 1st quarter. Amundi now owns 74,681 shares of the company’s stock valued at $1,160,000 after buying an additional 1,647 shares during the last quarter. Hedge funds and other institutional investors own 38.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ENLT. Roth Capital reiterated a “buy” rating and issued a $28.00 target price on shares of Enlight Renewable Energy in a report on Wednesday, August 6th. Barclays boosted their price objective on Enlight Renewable Energy from $26.00 to $34.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Wall Street Zen cut shares of Enlight Renewable Energy from a “hold” rating to a “strong sell” rating in a research report on Sunday, August 10th. JPMorgan Chase & Co. upped their price target on Enlight Renewable Energy from $27.00 to $29.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Enlight Renewable Energy in a report on Thursday, October 30th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Enlight Renewable Energy presently has a consensus rating of “Hold” and a consensus target price of $29.00.

About Enlight Renewable Energy

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.