Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Receives $37.50 Consensus Price Target from Brokerages

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $38.8333.

Several equities analysts have recently commented on ENLT shares. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $35.00 target price on shares of Enlight Renewable Energy in a report on Monday, December 8th. UBS Group initiated coverage on shares of Enlight Renewable Energy in a report on Monday, November 24th. They set a “buy” rating and a $47.00 price objective for the company. Roth Capital raised 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $38.00 target price on shares of Enlight Renewable Energy in a research report on Wednesday. Finally, Barclays raised their price target on Enlight Renewable Energy from $34.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, November 13th.

Enlight Renewable Energy Stock Performance

NASDAQ ENLT opened at $49.57 on Monday. 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 has a twelve month low of $14.01 and a twelve month high of $51.50. The business has a 50-day moving average price of $40.32 and a 200-day moving average price of $32.26.

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

Institutional Investors Weigh In On Enlight Renewable Energy

Hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its stake in shares of 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 bought a new position in shares of Enlight Renewable Energy in the 2nd quarter valued at about $106,000. Bank of Montreal Can grew its position in Enlight Renewable Energy by 6.4% in the second quarter. Bank of Montreal Can now owns 11,021 shares of the company’s stock worth $251,000 after acquiring an additional 660 shares in the last quarter. Jane Street Group LLC increased its stake in Enlight Renewable Energy by 6.0% during the second quarter. Jane Street Group LLC now owns 11,366 shares of the company’s stock worth $258,000 after acquiring an additional 641 shares during the last quarter. Finally, TD Asset Management Inc increased its stake in Enlight Renewable Energy by 8.8% during the second quarter. TD Asset Management Inc now owns 13,821 shares of the company’s stock worth $314,000 after acquiring an additional 1,114 shares during the last quarter. Hedge funds and other institutional investors 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.