Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Receives $28.40 Consensus Price Target from Brokerages

Shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT) have been given a consensus recommendation of “Hold” by the seven ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $28.40.

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price target on shares of Enlight Renewable Energy from $27.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Barclays raised their price target on shares of Enlight Renewable Energy from $26.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $30.00 price target on shares of Enlight Renewable Energy in a report on Wednesday, October 1st. Finally, Roth Capital restated a “buy” rating and issued a $28.00 price target on shares of Enlight Renewable Energy in a report on Wednesday, August 6th.

Enlight Renewable Energy Stock Down 3.1%

NASDAQ:ENLT opened at $35.15 on Wednesday. Enlight Renewable Energy has a fifty-two week low of $14.01 and a fifty-two week high of $36.65. 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’s 50-day simple moving average is $30.45 and its 200-day simple moving average is $24.33.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $36.37 million during the quarter, compared to the consensus estimate of $424.05 million. On average, equities analysts forecast that Enlight Renewable Energy will post 0.41 EPS for the current year.

Institutional Trading of Enlight Renewable Energy

A number of institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC boosted its stake in Enlight Renewable Energy by 18.8% in the 2nd quarter. Tidal Investments LLC now owns 15,943 shares of the company’s stock worth $362,000 after purchasing an additional 2,527 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Enlight Renewable Energy by 256.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock worth $28,000 after purchasing an additional 881 shares in the last quarter. Jane Street Group LLC boosted its stake in Enlight Renewable Energy by 6.0% in 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 in the last quarter. Canada Pension Plan Investment Board boosted its stake in Enlight Renewable Energy by 9.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 279,789 shares of the company’s stock worth $6,348,000 after purchasing an additional 24,653 shares in the last quarter. Finally, Amundi boosted its stake in Enlight Renewable Energy by 44.9% in the 2nd quarter. Amundi now owns 108,178 shares of the company’s stock worth $2,459,000 after purchasing an additional 33,497 shares in the last quarter. 38.89% of the stock is currently owned by institutional investors and hedge funds.

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.