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

Enlight Renewable Energy Ltd. (NASDAQ:ENLT)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $94.46 and last traded at $94.91, with a volume of 69888 shares changing hands. The stock had previously closed at $90.51.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ENLT shares. Barclays reiterated an “overweight” rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. Mizuho set a $37.00 price objective on shares of Enlight Renewable Energy in a research report on Monday, February 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. UBS Group boosted their price objective on shares of Enlight Renewable Energy from $93.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft set a $65.00 price objective on shares of Enlight Renewable Energy and gave the stock a “hold” rating in a research report on Thursday, April 9th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $60.17.

Enlight Renewable Energy Stock Up 0.9%

The business’s fifty day simple moving average is $77.74 and its 200 day simple moving average is $58.46. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.68. The stock has a market cap of $10.92 billion, a price-to-earnings ratio of 214.21, a price-to-earnings-growth ratio of 27.30 and a beta of 1.51.

Enlight Renewable Energy (NASDAQ:ENLT) last released its earnings results on Tuesday, March 31st. The company reported $0.16 EPS for the quarter. Enlight Renewable Energy had a net margin of 9.47% and a return on equity of 2.48%. The firm had revenue of $156.49 million during the quarter. Equities analysts forecast that Enlight Renewable Energy Ltd. will post 0.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Enlight Renewable Energy news, VP Lisa Haimovitz sold 737 shares of Enlight Renewable Energy stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $92.75, for a total transaction of $68,356.75. Following the completion of the sale, the vice president owned 13,026 shares of the company’s stock, valued at approximately $1,208,161.50. The trade was a 5.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Yair Seroussi sold 3,033 shares of Enlight Renewable Energy stock in a transaction on Friday, May 8th. The stock was sold at an average price of $89.04, for a total transaction of $270,058.32. Following the sale, the insider directly owned 14,233 shares of the company’s stock, valued at $1,267,306.32. This represents a 17.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 32,677 shares of company stock valued at $2,970,420.

Hedge Funds Weigh In On Enlight Renewable Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Enlight Renewable Energy by 18.2% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 11,688,077 shares of the company’s stock valued at $774,113,000 after buying an additional 1,797,936 shares during the period. SEB Asset Management AB acquired a new position in shares of Enlight Renewable Energy in the 1st quarter valued at $438,000. Swiss National Bank grew its holdings in shares of Enlight Renewable Energy by 1.3% in the 1st quarter. Swiss National Bank now owns 264,220 shares of the company’s stock valued at $17,477,000 after buying an additional 3,273 shares during the period. Bleakley Financial Group LLC acquired a new position in shares of Enlight Renewable Energy in the 1st quarter valued at $2,397,000. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of Enlight Renewable Energy in the 1st quarter valued at $533,000. Institutional investors and hedge funds own 38.89% of the company’s stock.

About Enlight Renewable Energy

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.