Enlight Renewable Energy (NASDAQ:ENLT) Sets New 1-Year High – What’s Next?

Shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $42.77 and last traded at $42.9670, with a volume of 5204 shares traded. The stock had previously closed at $41.80.

Analysts Set New Price Targets

Several equities research analysts recently commented on ENLT shares. Barclays boosted their price objective on shares of Enlight Renewable Energy from $34.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. Mizuho boosted their price target on Enlight Renewable Energy from $24.00 to $27.00 and gave the company an “underperform” rating in a report on Monday, November 17th. UBS Group began coverage on Enlight Renewable Energy in a research report on Monday, November 24th. They set a “buy” rating and a $47.00 price objective for the company. Roth Capital lifted their target price on Enlight Renewable Energy from $30.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Monday, December 15th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.50.

Enlight Renewable Energy Stock Up 4.5%

The firm has a 50-day moving average of $37.20 and a 200 day moving average of $29.92. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 45.51 and a beta of 1.50.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings results on Wednesday, November 12th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.09. Enlight Renewable Energy had a return on equity of 7.41% and a net margin of 22.60%.The firm had revenue of $165.06 million for the quarter, compared to analyst estimates of $146.04 million. As a group, sell-side analysts forecast 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 large investors have recently added to or reduced their stakes in the company. Mariner LLC increased its stake in shares of Enlight Renewable Energy by 4.1% during the 3rd quarter. Mariner LLC now owns 10,070 shares of the company’s stock worth $314,000 after purchasing an additional 396 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Enlight Renewable Energy by 1.0% during the third quarter. Public Employees Retirement System of Ohio now owns 45,693 shares of the company’s stock worth $1,409,000 after buying an additional 472 shares during the last quarter. Jane Street Group LLC raised its stake in 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 buying an additional 641 shares during the period. Bank of Montreal Can raised its stake 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 buying an additional 660 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of 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 during the last quarter. Institutional investors and hedge funds 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.