Enlight Renewable Energy (NASDAQ:ENLT) Hits New 1-Year High – Here’s Why

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) hit a new 52-week high during trading on Tuesday . The company traded as high as $85.52 and last traded at $82.97, with a volume of 185866 shares. The stock had previously closed at $81.87.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ENLT shares. Mizuho set a $37.00 price objective on Enlight Renewable Energy in a research report on Monday, February 23rd. UBS Group raised their price objective on Enlight Renewable Energy to $65.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. JPMorgan Chase & Co. raised their price objective on Enlight Renewable Energy from $45.00 to $57.00 and gave the stock an “underweight” rating in a research report on Thursday, April 16th. Finally, Deutsche Bank Aktiengesellschaft set a $65.00 price target on Enlight Renewable Energy and gave the company a “hold” rating in a report on Thursday, April 9th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $51.67.

Enlight Renewable Energy Trading Up 1.3%

The company has a fifty day moving average of $71.98 and a two-hundred day moving average of $53.00. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $9.84 billion, a price-to-earnings ratio of 81.34, a price-to-earnings-growth ratio of 10.30 and a beta of 1.21.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its earnings results on Saturday, February 14th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.17. Enlight Renewable Energy had a return on equity of 7.35% and a net margin of 22.69%.The firm had revenue of $124.19 million during the quarter, compared to analyst estimates of $146.12 million. On average, research analysts expect that Enlight Renewable Energy Ltd. will post 0.46 EPS for the current year.

Institutional Investors Weigh In On Enlight Renewable Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENLT. BNP Paribas Financial Markets lifted its holdings in shares of Enlight Renewable Energy by 256.1% during the second quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock worth $28,000 after buying an additional 881 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Enlight Renewable Energy during the fourth quarter worth approximately $56,000. Savant Capital LLC acquired a new position in shares of Enlight Renewable Energy during the fourth quarter worth approximately $241,000. Jane Street Group LLC lifted its holdings in shares of 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 buying an additional 641 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new position in shares of Enlight Renewable Energy during the fourth quarter worth approximately $277,000. 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.