Enlight Renewable Energy (NASDAQ:ENLT) Given “Buy” Rating at Roth Mkm

Roth Mkm reaffirmed their buy rating on shares of Enlight Renewable Energy (NASDAQ:ENLT) in a research note published on Wednesday morning, Benzinga reports. Roth Mkm currently has a $20.00 target price on the stock.

Enlight Renewable Energy Price Performance

Shares of ENLT opened at $16.25 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.60. Enlight Renewable Energy has a 1 year low of $12.11 and a 1 year high of $20.00. The stock has a market cap of $1.88 billion, a P/E ratio of 31.86 and a beta of 1.68. The stock’s 50-day moving average price is $16.10 and its two-hundred day moving average price is $16.79.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its earnings results on Wednesday, August 7th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.07. Enlight Renewable Energy had a return on equity of 4.47% and a net margin of 23.15%. The firm had revenue of $84.70 million for the quarter, compared to analysts’ expectations of $76.23 million. During the same quarter last year, the business earned $0.12 earnings per share. The company’s revenue was up 61.0% compared to the same quarter last year. On average, equities analysts predict that Enlight Renewable Energy will post 0.25 earnings per share for the current year.

Hedge Funds Weigh In On Enlight Renewable Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC bought a new position in Enlight Renewable Energy during the fourth quarter worth about $217,000. Susquehanna International Group Ltd. bought a new position in shares of Enlight Renewable Energy during the 2nd quarter valued at about $253,000. Tidal Investments LLC bought a new position in shares of Enlight Renewable Energy during the 1st quarter valued at about $254,000. Capstone Investment Advisors LLC lifted its holdings in shares of Enlight Renewable Energy by 9.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the company’s stock valued at $369,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of Enlight Renewable Energy during the 1st quarter valued at about $377,000. Institutional investors own 38.89% of the company’s stock.

About Enlight Renewable Energy

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.