Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Given Average Recommendation of “Hold” by Brokerages

Shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT) have received an average rating of “Hold” from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $38.8333.

Several brokerages recently weighed in on ENLT. Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Monday, December 29th. Mizuho upped their price target on Enlight Renewable Energy from $24.00 to $27.00 and gave the stock an “underperform” rating in a report on Monday, November 17th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $38.00 price objective on shares of Enlight Renewable Energy in a research note on Wednesday. Roth Capital boosted their target price on shares of Enlight Renewable Energy from $30.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Finally, Barclays increased their price target on shares of Enlight Renewable Energy from $34.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, November 13th.

Hedge Funds 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 position 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 acquiring an additional 881 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Enlight Renewable Energy during the second quarter valued at approximately $106,000. Bank of Montreal Can raised its stake in shares of Enlight Renewable Energy by 6.4% in the second quarter. Bank of Montreal Can now owns 11,021 shares of the company’s stock valued at $251,000 after purchasing an additional 660 shares in the last quarter. Jane Street Group LLC lifted its position in Enlight Renewable Energy by 6.0% in the second quarter. Jane Street Group LLC now owns 11,366 shares of the company’s stock worth $258,000 after purchasing an additional 641 shares during the period. Finally, TD Asset Management Inc boosted 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 buying an additional 1,114 shares in the last quarter. 38.89% of the stock is currently owned by institutional investors.

Enlight Renewable Energy Stock Performance

NASDAQ:ENLT opened at $51.77 on Monday. The firm has a market capitalization of $5.98 billion, a PE ratio of 53.93 and a beta of 1.44. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.91. Enlight Renewable Energy has a 1 year low of $14.01 and a 1 year high of $52.29. The firm’s fifty day simple moving average is $40.96 and its 200 day simple moving average is $32.73.

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

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.