Enlight Renewable Energy (NASDAQ:ENLT) Hits New 52-Week High – Here’s What Happened

Enlight Renewable Energy Ltd. (NASDAQ:ENLT)’s share price reached a new 52-week high on Tuesday . The company traded as high as $103.10 and last traded at $102.70, with a volume of 77055 shares traded. The stock had previously closed at $92.25.

Analyst Ratings Changes

ENLT has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. Deutsche Bank Aktiengesellschaft set a $65.00 price objective on Enlight Renewable Energy and gave the stock a “hold” rating in a research report on Thursday, April 9th. Mizuho set a $37.00 price objective on Enlight Renewable Energy in a research report on Monday, February 23rd. UBS Group lifted their target price on shares of Enlight Renewable Energy from $93.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Enlight Renewable Energy presently has a consensus rating of “Hold” and a consensus target price of $60.17.

Enlight Renewable Energy Stock Up 12.1%

The business’s 50 day moving average is $80.59 and its 200 day moving average is $61.89. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market capitalization of $12.26 billion, a price-to-earnings ratio of 240.47, a PEG ratio of 33.42 and a beta of 1.51.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.16 EPS for the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%.The company had revenue of $156.49 million during the quarter. Sell-side analysts anticipate that Enlight Renewable Energy Ltd. will post 0.29 earnings per share for the current year.

Insider Activity at Enlight Renewable Energy

In other Enlight Renewable Energy news, VP Lisa Haimovitz sold 335 shares of Enlight Renewable Energy stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $92.39, for a total transaction of $30,950.65. Following the completion of the sale, the vice president owned 13,026 shares of the company’s stock, valued at approximately $1,203,472.14. The trade was a 2.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Gilad Yavetz sold 100,000 shares of Enlight Renewable Energy stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $91.78, for a total transaction of $9,178,000.00. Following the sale, the chairman owned 846,436 shares of the company’s stock, valued at approximately $77,685,896.08. The trade was a 10.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 232,268 shares of company stock worth $21,463,520 in the last quarter.

Institutional Trading of Enlight Renewable Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Enlight Renewable Energy by 26.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 57,621 shares of the company’s stock valued at $2,618,000 after buying an additional 11,994 shares during the period. Y.D. More Investments Ltd lifted its holdings in shares of Enlight Renewable Energy by 4.5% in 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 buying an additional 252,446 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Enlight Renewable Energy by 11.3% in the 4th quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company’s stock valued at $225,058,000 after buying an additional 503,060 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Enlight Renewable Energy by 61.5% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 22,745 shares of the company’s stock valued at $709,000 after buying an additional 8,664 shares during the period. Finally, Citigroup Inc. lifted its holdings in shares of Enlight Renewable Energy by 465.1% in the 3rd quarter. Citigroup Inc. now owns 110,153 shares of the company’s stock valued at $3,398,000 after buying an additional 90,662 shares during the period. 38.89% of the stock is currently owned by institutional investors and hedge funds.

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.