Enlight Renewable Energy (NASDAQ:ENLT) Reaches New 12-Month High – Here’s Why

Enlight Renewable Energy Ltd. (NASDAQ:ENLT)’s share price reached a new 52-week high on Tuesday . The company traded as high as $32.47 and last traded at $32.35, with a volume of 12290 shares. The stock had previously closed at $31.31.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays increased their price objective on Enlight Renewable Energy from $21.00 to $26.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Mizuho set a $21.00 target price on Enlight Renewable Energy and gave the stock an “underperform” rating in a report on Monday, July 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Saturday, September 27th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $30.00 price target on shares of Enlight Renewable Energy in a research note on Wednesday, October 1st. Finally, Wall Street Zen cut Enlight Renewable Energy from a “hold” rating to a “strong sell” rating in a report on Sunday, August 10th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $26.40.

Enlight Renewable Energy Stock Up 3.3%

The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 2.10. The company has a market cap of $3.74 billion, a P/E ratio of 35.16, a P/E/G ratio of 2.30 and a beta of 1.54. The business’s 50 day moving average is $27.52 and its 200 day moving average is $22.27.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.05). Enlight Renewable Energy had a net margin of 23.58% and a return on equity of 7.48%. The business had revenue of $36.37 million for the quarter, compared to analyst estimates of $424.05 million. As a group, equities analysts anticipate that Enlight Renewable Energy Ltd. will post 0.41 earnings per share for the current fiscal year.

Institutional Trading of Enlight Renewable Energy

A number of institutional investors and hedge funds have recently modified their holdings of ENLT. Jane Street Group LLC boosted 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 valued at $258,000 after acquiring an additional 641 shares during the last quarter. Bank of Montreal Can raised its holdings in Enlight Renewable Energy by 6.4% in the second quarter. Bank of Montreal Can now owns 11,021 shares of the company’s stock valued at $251,000 after acquiring an additional 660 shares in the last quarter. Geode Capital Management LLC raised its stake in Enlight Renewable Energy by 0.7% in the second quarter. Geode Capital Management LLC now owns 108,157 shares of the company’s stock valued at $2,458,000 after buying an additional 773 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Enlight Renewable Energy by 256.1% in 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. Finally, TD Asset Management Inc grew its stake in Enlight Renewable Energy by 8.8% during the 2nd quarter. TD Asset Management Inc now owns 13,821 shares of the company’s stock worth $314,000 after buying an additional 1,114 shares during the last quarter. Hedge funds and other institutional investors own 38.89% of the company’s stock.

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.