Enlight Renewable Energy (NASDAQ:ENLT) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Enlight Renewable Energy (NASDAQ:ENLT) in a report issued on Thursday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $22.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 31.26% from the stock’s current price.

ENLT has been the topic of a number of other reports. Barclays raised their price objective on Enlight Renewable Energy from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. lifted their price target on Enlight Renewable Energy from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Finally, Wolfe Research downgraded Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Enlight Renewable Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

Enlight Renewable Energy Price Performance

Shares of ENLT traded up $0.15 during midday trading on Thursday, reaching $16.76. The stock had a trading volume of 2,640 shares, compared to its average volume of 15,359. The company’s 50-day moving average is $16.88 and its 200 day moving average is $16.34. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 46.56 and a beta of 1.37. Enlight Renewable Energy has a 12-month low of $14.09 and a 12-month high of $18.48. The company has a current ratio of 1.22, a quick ratio of 0.53 and a debt-to-equity ratio of 1.98.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.17. Enlight Renewable Energy had a net margin of 11.09% and a return on equity of 3.03%. The company had revenue of $114.21 million during the quarter, compared to analysts’ expectations of $289.04 million. On average, equities analysts predict that Enlight Renewable Energy will post 0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ENLT. Clal Insurance Enterprises Holdings Ltd increased its position in Enlight Renewable Energy by 4.2% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,771,161 shares of the company’s stock valued at $147,885,000 after purchasing an additional 353,750 shares during the period. Meitav Investment House Ltd. lifted its stake in shares of Enlight Renewable Energy by 4.0% in the 4th quarter. Meitav Investment House Ltd. now owns 5,901,179 shares of the company’s stock valued at $101,910,000 after purchasing an additional 229,255 shares during the period. Vanguard Group Inc. boosted its position in shares of Enlight Renewable Energy by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 4,158,533 shares of the company’s stock valued at $71,926,000 after purchasing an additional 35,555 shares in the last quarter. Y.D. More Investments Ltd grew its stake in Enlight Renewable Energy by 18.6% in the fourth quarter. Y.D. More Investments Ltd now owns 3,068,179 shares of the company’s stock worth $53,043,000 after purchasing an additional 482,129 shares during the period. Finally, Phoenix Financial Ltd. lifted its position in Enlight Renewable Energy by 42.2% during the fourth quarter. Phoenix Financial Ltd. now owns 1,254,495 shares of the company’s stock valued at $21,634,000 after buying an additional 372,403 shares during the period. 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.