Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Given Consensus Recommendation of “Hold” by Brokerages

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) has earned a consensus recommendation of “Hold” from the eight research firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $41.8333.

Several equities analysts have recently issued reports on ENLT shares. Barclays lifted their price target on 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 shares of Enlight Renewable Energy from $24.00 to $27.00 and gave the stock an “underperform” rating in a research report on Monday, November 17th. Roth Mkm raised their price objective on shares of Enlight Renewable Energy from $30.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. UBS Group boosted their target price on shares of Enlight Renewable Energy to $65.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $38.00 target price on shares of Enlight Renewable Energy in a report on Wednesday, January 7th.

Enlight Renewable Energy Price Performance

Enlight Renewable Energy stock opened at $56.35 on Friday. Enlight Renewable Energy has a 1 year low of $14.01 and a 1 year high of $62.94. The firm’s 50-day moving average is $47.90 and its 200-day moving average is $36.62. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.88 and a current ratio of 0.88.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings results on Wednesday, November 12th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.07 by $0.09. Enlight Renewable Energy had a net margin of 22.60% and a return on equity of 7.41%. The business had revenue of $165.06 million during the quarter, compared to analyst estimates of $146.04 million. As a group, research analysts forecast that Enlight Renewable Energy will post 0.41 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its stake in shares of Enlight Renewable Energy by 256.1% during 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. V Square Quantitative Management LLC acquired a new stake in Enlight Renewable Energy in the fourth quarter valued at approximately $56,000. Bank of Montreal Can grew its position 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 worth $251,000 after acquiring an additional 660 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Enlight Renewable Energy by 6.0% during 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 during the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of Enlight Renewable Energy by 8.8% during the 2nd quarter. TD Asset Management Inc now owns 13,821 shares of the company’s stock valued at $314,000 after purchasing an additional 1,114 shares in the last quarter. Institutional investors and hedge funds own 38.89% of the company’s stock.

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.