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

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $85.52 and last traded at $82.97, with a volume of 185866 shares. The stock had previously closed at $81.87.

Wall Street Analysts Forecast Growth

Several analysts have commented on ENLT shares. Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. 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 note on Thursday, April 9th. Mizuho set a $37.00 target price on shares of Enlight Renewable Energy in a research note on Monday, February 23rd. UBS Group raised their target price on shares of Enlight Renewable Energy to $65.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Finally, Barclays reaffirmed an “overweight” rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $51.67.

Enlight Renewable Energy Stock Up 2.7%

The stock’s 50 day simple moving average is $72.78 and its two-hundred day simple moving average is $53.57. The firm has a market cap of $9.94 billion, a P/E ratio of 82.16, a P/E/G ratio of 10.27 and a beta of 1.21. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.67 and a quick ratio of 0.67.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its earnings results on Saturday, February 14th. The company reported $0.10 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $146.12 million. As a group, research analysts forecast that Enlight Renewable Energy Ltd. will post 0.46 earnings per share for the current year.

Institutional Investors Weigh In On Enlight Renewable Energy

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

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.