Enlight Renewable Energy (NASDAQ:ENLT) Price Target Raised to $68.00

Enlight Renewable Energy (NASDAQ:ENLT) had its price objective raised by JPMorgan Chase & Co. from $57.00 to $68.00 in a report released on Wednesday morning,Benzinga reports. They currently have an underweight rating on the stock.

Several other equities analysts have also weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. Mizuho set a $37.00 price target on shares of Enlight Renewable Energy in a research report on Monday, February 23rd. UBS Group lifted their price objective on shares of Enlight Renewable Energy to $65.00 and gave the company a “buy” rating in a report on Friday, January 16th. Deutsche Bank Aktiengesellschaft set a $65.00 price objective on shares of Enlight Renewable Energy and gave the stock a “hold” rating in a research report on Thursday, April 9th. Finally, Barclays reissued an “overweight” rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Enlight Renewable Energy presently has an average rating of “Hold” and an average target price of $60.17.

Enlight Renewable Energy Stock Up 6.4%

Shares of ENLT opened at $90.51 on Wednesday. The company has a market capitalization of $10.73 billion, a price-to-earnings ratio of 210.49, a PEG ratio of 21.36 and a beta of 1.51. Enlight Renewable Energy has a 52 week low of $16.87 and a 52 week high of $93.85. The stock’s 50-day moving average price is $76.36 and its 200-day moving average price is $57.22. The company has a quick ratio of 0.67, a current ratio of 0.77 and a debt-to-equity ratio of 1.68.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share for the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%.The company had revenue of $156.49 million during the quarter. On average, sell-side analysts predict that Enlight Renewable Energy will post 0.42 EPS for the current year.

Institutional Investors Weigh In On Enlight Renewable Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted 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 valued at $28,000 after purchasing an additional 881 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Enlight Renewable Energy during the fourth quarter worth about $56,000. Savant Capital LLC purchased a new stake in shares of Enlight Renewable Energy during the fourth quarter worth about $241,000. Jane Street Group LLC raised its position in shares of Enlight Renewable Energy by 6.0% during the 2nd quarter. Jane Street Group LLC now owns 11,366 shares of the company’s stock worth $258,000 after purchasing an additional 641 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new position in shares of Enlight Renewable Energy during the 4th quarter worth about $277,000. Hedge funds and other 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.