Enlight Renewable Energy (NASDAQ:ENLT) Reaches New 12-Month High – Here’s What Happened
by Teresa Graham · The Cerbat GemEnlight Renewable Energy Ltd. (NASDAQ:ENLT – Get Free Report)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $63.86 and last traded at $63.71, with a volume of 177131 shares traded. The stock had previously closed at $61.94.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the company. Roth Mkm lifted their price target on Enlight Renewable Energy from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. UBS Group raised their price objective on shares of Enlight Renewable Energy to $65.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $35.00 target price on shares of Enlight Renewable Energy in a report on Monday, December 8th. Mizuho lifted their price target on shares of Enlight Renewable Energy from $24.00 to $27.00 and gave the company an “underperform” rating in a research report on Monday, November 17th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $38.00 price objective on shares of Enlight Renewable Energy in a report on Wednesday, January 7th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $41.83.
Read Our Latest Report on Enlight Renewable Energy
Enlight Renewable Energy Trading Up 2.9%
The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.91. The business has a 50-day simple moving average of $49.57 and a 200-day simple moving average of $37.69. The company has a market cap of $7.36 billion, a PE ratio of 66.36 and a beta of 1.42.
Enlight Renewable Energy (NASDAQ:ENLT – Get Free Report) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $0.16 earnings per share for the quarter, beating 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 business had revenue of $165.06 million during the quarter, compared to analysts’ expectations of $146.04 million. On average, analysts predict that Enlight Renewable Energy Ltd. will post 0.41 EPS for the current fiscal year.
Institutional Trading of Enlight Renewable Energy
Several hedge funds have recently made changes to their positions in the business. Y.D. More Investments Ltd increased its stake in Enlight Renewable Energy by 50.5% during the 3rd quarter. Y.D. More Investments Ltd now owns 5,584,817 shares of the company’s stock worth $172,143,000 after buying an additional 1,875,084 shares during the period. Legal & General Group Plc grew its stake in shares of Enlight Renewable Energy by 259.0% in the second quarter. Legal & General Group Plc now owns 1,867,785 shares of the company’s stock worth $42,377,000 after acquiring an additional 1,347,458 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Enlight Renewable Energy by 11.3% in the fourth quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company’s stock worth $225,058,000 after acquiring an additional 503,060 shares in the last quarter. Norges Bank purchased a new stake in shares of Enlight Renewable Energy during the fourth quarter worth $17,875,000. Finally, First Trust Advisors LP raised its stake in shares of Enlight Renewable Energy by 269.0% in the third quarter. First Trust Advisors LP now owns 260,192 shares of the company’s stock valued at $8,006,000 after acquiring an additional 189,676 shares in the last quarter. Institutional investors and hedge funds 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.