Enlight Renewable Energy (NASDAQ:ENLT) Price Target Raised to $57.00

Enlight Renewable Energy (NASDAQ:ENLT) had its price target increased by JPMorgan Chase & Co. from $45.00 to $57.00 in a research report sent to investors on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

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

Enlight Renewable Energy Price Performance

Shares of ENLT opened at $81.87 on Thursday. The company has a market cap of $9.71 billion, a price-to-earnings ratio of 80.27, a price-to-earnings-growth ratio of 10.74 and a beta of 1.21. Enlight Renewable Energy has a twelve month low of $15.00 and a twelve month high of $83.28. 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 50 day moving average of $71.53 and a two-hundred day moving average of $52.49.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly 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. The business had revenue of $124.19 million during the quarter, compared to analysts’ expectations of $146.12 million. Enlight Renewable Energy had a net margin of 22.69% and a return on equity of 7.35%. As a group, analysts predict that Enlight Renewable Energy will post 0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enlight Renewable Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. raised its stake in shares of Enlight Renewable Energy by 19.0% in the 4th quarter. Invesco Ltd. now owns 1,468,914 shares of the company’s stock valued at $66,777,000 after acquiring an additional 234,306 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of Enlight Renewable Energy in the 4th quarter valued at approximately $277,000. Quadrature Capital Ltd purchased a new stake in shares of Enlight Renewable Energy in the 4th quarter valued at approximately $355,000. OLD Mission Capital LLC purchased a new stake in shares of Enlight Renewable Energy in the 4th quarter valued at approximately $363,000. Finally, Altshuler Shaham Ltd raised its stake in shares of Enlight Renewable Energy by 41.9% in the 4th quarter. Altshuler Shaham Ltd now owns 585,068 shares of the company’s stock valued at $26,557,000 after acquiring an additional 172,718 shares during the period. 38.89% of the stock is owned by hedge funds and other institutional investors.

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.