Enlight Renewable Energy (NASDAQ:ENLT) Reaches New 12-Month High – Here’s Why

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) reached a new 52-week high on Saturday . The company traded as high as $56.19 and last traded at $55.92, with a volume of 59123 shares changing hands. The stock had previously closed at $53.92.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Mizuho lifted their price target on Enlight Renewable Energy from $24.00 to $27.00 and gave the company an “underperform” rating in a report on Monday, November 17th. UBS Group increased their price target on shares of Enlight Renewable Energy to $65.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Monday, December 29th. Roth Mkm increased their price objective on Enlight Renewable Energy from $30.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $35.00 target price on shares of Enlight Renewable Energy in a report on Monday, December 8th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $41.83.

Enlight Renewable Energy Stock Performance

The firm has a market capitalization of $6.46 billion, a P/E ratio of 58.25 and a beta of 1.44. The stock has a fifty day moving average of $44.20 and a 200-day moving average of $34.56. 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 issued its quarterly earnings results on Wednesday, November 12th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.07 by $0.09. The firm had revenue of $165.06 million for the quarter, compared to analysts’ expectations of $146.04 million. Enlight Renewable Energy had a net margin of 22.60% and a return on equity of 7.41%. On average, research analysts anticipate that Enlight Renewable Energy Ltd. will post 0.41 EPS for the current year.

Institutional Trading of Enlight Renewable Energy

Hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new position in Enlight Renewable Energy during the fourth quarter worth about $56,000. Y.D. More Investments Ltd grew its holdings in shares of Enlight Renewable Energy by 4.5% during the 4th quarter. Y.D. More Investments Ltd now owns 5,837,263 shares of the company’s stock valued at $264,965,000 after purchasing an additional 252,446 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Enlight Renewable Energy by 1.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 45,693 shares of the company’s stock worth $1,409,000 after purchasing an additional 472 shares in the last quarter. Mariner LLC lifted its stake in Enlight Renewable Energy by 4.1% in the 3rd quarter. Mariner LLC now owns 10,070 shares of the company’s stock valued at $314,000 after purchasing an additional 396 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Enlight Renewable Energy by 1,734.8% in the third quarter. Bank of America Corp DE now owns 97,684 shares of the company’s stock valued at $3,044,000 after buying an additional 92,360 shares in the last quarter. Institutional investors and hedge funds 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.