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

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) has been assigned a consensus recommendation of “Hold” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $24.40.

ENLT has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Enlight Renewable Energy from $18.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Mizuho set a $21.00 price target on Enlight Renewable Energy and gave the company an “underperform” rating in a report on Monday, July 14th. Wall Street Zen downgraded Enlight Renewable Energy from a “hold” rating to a “strong sell” rating in a research note on Sunday, August 10th. Barclays upped their target price on Enlight Renewable Energy from $21.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Finally, Roth Capital restated a “buy” rating and set a $28.00 price target on shares of Enlight Renewable Energy in a report on Wednesday, August 6th.

Enlight Renewable Energy Stock Up 2.9%

Shares of ENLT opened at $29.10 on Tuesday. The company has a 50-day moving average of $25.69 and a two-hundred day moving average of $20.41. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 2.10. Enlight Renewable Energy has a one year low of $14.01 and a one year high of $29.50.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). The firm had revenue of $36.37 million for the quarter, compared to analyst estimates of $424.05 million. Enlight Renewable Energy had a net margin of 23.58% and a return on equity of 7.48%. As a group, equities analysts anticipate that Enlight Renewable Energy will post 0.41 earnings per share for the current year.

Institutional Investors Weigh In On Enlight Renewable Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Enlight Renewable Energy by 9.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 336,224 shares of the company’s stock worth $5,798,000 after buying an additional 28,792 shares during the last quarter. USS Investment Management Ltd bought a new position in shares of Enlight Renewable Energy during the 4th quarter valued at $985,000. Y.D. More Investments Ltd raised its holdings in shares of Enlight Renewable Energy by 18.0% during the 1st quarter. Y.D. More Investments Ltd now owns 3,621,516 shares of the company’s stock valued at $57,870,000 after purchasing an additional 553,337 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Enlight Renewable Energy by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 4,227,862 shares of the company’s stock valued at $68,107,000 after purchasing an additional 69,329 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Enlight Renewable Energy in the fourth quarter worth $196,000. 38.89% of the stock is owned by hedge funds and other institutional investors.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd operates a renewable energy platform in Israel, Central-Eastern Europe, Western Europe, and the United States. The company develops, finances, constructs, owns, and operates utility-scale renewable energy projects. It develops wind energy and solar energy projects, as well as energy storage projects.