Enlight Renewable Energy (NASDAQ:ENLT) Sets New 12-Month High – What’s Next?

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) reached a new 52-week high on Monday . The company traded as high as $59.41 and last traded at $58.85, with a volume of 77574 shares. The stock had previously closed at $55.57.

Analysts Set New Price Targets

ENLT has been the subject of a number of analyst reports. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $35.00 price objective on shares of Enlight Renewable Energy in a research report on Monday, December 8th. Mizuho lifted 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 note on Monday, November 17th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $38.00 target price on shares of Enlight Renewable Energy in a research report on Wednesday, January 7th. UBS Group lifted their price target on Enlight Renewable Energy to $65.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Monday, December 29th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $41.83.

Enlight Renewable Energy Stock Performance

The company has a market capitalization of $6.81 billion, a price-to-earnings ratio of 61.41 and a beta of 1.44. The stock has a 50 day simple moving average of $46.27 and a 200 day simple moving average of $35.83. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.91.

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

Institutional Investors Weigh In On Enlight Renewable Energy

Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its holdings in Enlight Renewable Energy by 256.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock worth $28,000 after buying an additional 881 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Enlight Renewable Energy during the fourth quarter valued at $56,000. Bank of Montreal Can raised its stake in shares of Enlight Renewable Energy by 6.4% during the second quarter. Bank of Montreal Can now owns 11,021 shares of the company’s stock valued at $251,000 after purchasing an additional 660 shares in the last quarter. Jane Street Group LLC grew its position in Enlight Renewable Energy by 6.0% in the 2nd quarter. Jane Street Group LLC now owns 11,366 shares of the company’s stock valued at $258,000 after buying an additional 641 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in 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 buying an additional 1,114 shares during the period. 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.