Enlight Renewable Energy (NASDAQ:ENLT) Releases Earnings Results, Beats Estimates By $0.09 EPS

Enlight Renewable Energy (NASDAQ:ENLT) released its earnings results on Wednesday. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.09, Zacks reports. Enlight Renewable Energy had a return on equity of 7.48% and a net margin of 23.58%. Enlight Renewable Energy updated its FY 2025 guidance to EPS.

Enlight Renewable Energy Price Performance

NASDAQ:ENLT traded up $2.89 during trading hours on Wednesday, hitting $39.40. The stock had a trading volume of 52,896 shares, compared to its average volume of 24,219. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 43.01, a P/E/G ratio of 2.65 and a beta of 1.56. Enlight Renewable Energy has a one year low of $14.01 and a one year high of $39.60. The company has a 50 day simple moving average of $32.02 and a two-hundred day simple moving average of $25.78. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.70 and a quick ratio of 0.70.

Wall Street Analyst Weigh In

Several research analysts recently commented on ENLT shares. Mizuho set a $24.00 target price on Enlight Renewable Energy in a research report on Friday, November 7th. Wall Street Zen lowered shares of Enlight Renewable Energy from a “hold” rating to a “strong sell” rating in a research note on Sunday, August 10th. JPMorgan Chase & Co. lifted their price objective on Enlight Renewable Energy from $27.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Barclays raised their target price on shares of Enlight Renewable Energy from $26.00 to $34.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Enlight Renewable Energy in a research report on Thursday, October 30th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $29.00.

Institutional Trading of Enlight Renewable Energy

Several institutional investors and hedge funds have recently modified their holdings of ENLT. Canada Pension Plan Investment Board grew its holdings 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 worth $6,348,000 after purchasing an additional 24,653 shares in the last quarter. Amundi grew its stake in Enlight Renewable Energy by 44.9% in the 2nd quarter. Amundi now owns 108,178 shares of the company’s stock worth $2,459,000 after buying an additional 33,497 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Enlight Renewable Energy by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 108,157 shares of the company’s stock worth $2,458,000 after buying an additional 773 shares during the last quarter. First Trust Advisors LP raised its position in shares of Enlight Renewable Energy by 9.6% during the 2nd quarter. First Trust Advisors LP now owns 70,516 shares of the company’s stock valued at $1,600,000 after buying an additional 6,201 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Enlight Renewable Energy during the 2nd quarter worth $815,000. Hedge funds and other institutional investors own 38.89% of the company’s stock.

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.