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

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Barclays increased their price target on shares of Enlight Renewable Energy from $34.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $35.00 price objective on shares of Enlight Renewable Energy in a research report on Monday, December 8th. UBS Group initiated coverage on Enlight Renewable Energy in a research report on Monday, November 24th. They set a “buy” rating and a $47.00 target price for the company. Roth Capital lifted their price objective on Enlight Renewable Energy from $30.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $30.00 target price on shares of Enlight Renewable Energy in a research note on Wednesday, October 1st. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $37.50.

Enlight Renewable Energy Trading Up 4.5%

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

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. The firm 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 22.60% and a return on equity of 7.41%. Analysts anticipate that Enlight Renewable Energy Ltd. will post 0.41 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio increased its holdings in shares of Enlight Renewable Energy by 1.0% in the third quarter. Public Employees Retirement System of Ohio now owns 45,693 shares of the company’s stock worth $1,409,000 after acquiring an additional 472 shares in the last quarter. Mariner LLC grew its position in shares of Enlight Renewable Energy by 4.1% in the 3rd quarter. Mariner LLC now owns 10,070 shares of the company’s stock valued at $314,000 after purchasing an additional 396 shares during the period. Bank of America Corp DE increased its stake in Enlight Renewable Energy by 1,734.8% during the 3rd quarter. Bank of America Corp DE now owns 97,684 shares of the company’s stock worth $3,044,000 after purchasing an additional 92,360 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Enlight Renewable Energy by 129.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 82,272 shares of the company’s stock worth $2,537,000 after purchasing an additional 46,368 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Enlight Renewable Energy by 2.8% during the 3rd quarter. Legal & General Group Plc now owns 1,920,888 shares of the company’s stock worth $59,253,000 after buying an additional 53,103 shares during the period. 38.89% of the stock is currently owned by institutional investors.

About Enlight Renewable Energy

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.