Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Up – What’s Next?

Enlight Renewable Energy Ltd. (NASDAQ:ENLT)’s share price gapped up before the market opened on Monday . The stock had previously closed at $81.87, but opened at $85.22. Enlight Renewable Energy shares last traded at $84.8640, with a volume of 50,740 shares traded.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Mizuho set a $37.00 target price on Enlight Renewable Energy in a research report on Monday, February 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. Barclays restated an “overweight” rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft set a $65.00 target price on shares of Enlight Renewable Energy and gave the stock a “hold” rating in a research report on Thursday, April 9th. Finally, UBS Group boosted their target price on shares of Enlight Renewable Energy to $65.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Enlight Renewable Energy presently has an average rating of “Hold” and an average target price of $51.67.

Enlight Renewable Energy Price Performance

The stock’s 50-day moving average is $72.38 and its 200-day moving average is $53.36. The firm has a market cap of $9.68 billion, a P/E ratio of 80.02, a price-to-earnings-growth ratio of 10.44 and a beta of 1.21. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.03.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its earnings results on Saturday, February 14th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.17. Enlight Renewable Energy had a net margin of 22.69% and a return on equity of 7.35%. The business had revenue of $124.19 million for the quarter, compared to analyst estimates of $146.12 million. As a group, equities analysts anticipate that Enlight Renewable Energy Ltd. will post 0.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Assenagon Asset Management S.A. raised its stake in shares of Enlight Renewable Energy by 121.2% in the first quarter. Assenagon Asset Management S.A. now owns 505,792 shares of the company’s stock valued at $33,527,000 after purchasing an additional 277,179 shares in the last quarter. Invesco Ltd. raised its stake in shares of Enlight Renewable Energy by 19.0% in the fourth quarter. Invesco Ltd. now owns 1,468,914 shares of the company’s stock valued at $66,777,000 after purchasing an additional 234,306 shares in the last quarter. Mackenzie Financial Corp acquired a new position in shares of Enlight Renewable Energy in the fourth quarter valued at $277,000. Quadrature Capital Ltd acquired a new position in shares of Enlight Renewable Energy in the fourth quarter valued at $355,000. Finally, OLD Mission Capital LLC acquired a new position in shares of Enlight Renewable Energy in the fourth quarter valued at $363,000. 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.