Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Given Average Rating of “Hold” by Analysts

Shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT) have received an average recommendation of “Hold” from the seven research firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $51.6667.

Several brokerages have recently commented on ENLT. Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. UBS Group boosted their target price on shares of Enlight Renewable Energy to $65.00 and gave the company a “buy” rating in a research report on Friday, January 16th. Barclays restated an “overweight” rating on shares of Enlight Renewable Energy in a research report on Wednesday, February 18th. Mizuho set a $37.00 target price on shares of Enlight Renewable Energy in a research report on Monday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft set a $65.00 target price on shares of Enlight Renewable Energy and gave the company a “hold” rating in a research report on Thursday, April 9th.

Enlight Renewable Energy Stock Performance

NASDAQ ENLT opened at $81.87 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.03. The company has a market capitalization of $9.71 billion, a P/E ratio of 80.27, a P/E/G ratio of 10.30 and a beta of 1.21. Enlight Renewable Energy has a 12-month low of $15.00 and a 12-month high of $83.28. The firm has a 50-day moving average price of $71.53 and a two-hundred day moving average price of $52.64.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings data on Saturday, February 14th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.17. The firm had revenue of $124.19 million during the quarter, compared to the consensus estimate of $146.12 million. Enlight Renewable Energy had a net margin of 22.69% and a return on equity of 7.35%. Analysts anticipate that Enlight Renewable Energy will post 0.41 earnings per share for the current year.

Hedge Funds Weigh In On Enlight Renewable Energy

Several hedge funds and other institutional investors have recently made changes to their positions in ENLT. Amundi raised its position in shares of Enlight Renewable Energy by 2.3% in the 1st quarter. Amundi now owns 74,681 shares of the company’s stock valued at $1,160,000 after buying an additional 1,647 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Enlight Renewable Energy by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 108,157 shares of the company’s stock valued at $2,458,000 after purchasing an additional 773 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Enlight Renewable Energy during the 2nd quarter valued at approximately $815,000. First Trust Advisors LP grew its holdings in shares of Enlight Renewable Energy by 9.6% during the 2nd quarter. First Trust Advisors LP now owns 70,516 shares of the company’s stock valued at $1,600,000 after purchasing an additional 6,201 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Enlight Renewable Energy by 9.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 279,789 shares of the company’s stock valued at $6,348,000 after purchasing an additional 24,653 shares during the last quarter. 38.89% of the stock is currently owned by institutional investors and hedge funds.

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.