Enlight Renewable Energy (NASDAQ:ENLT) Hits New 1-Year High – Still a Buy?

Enlight Renewable Energy Ltd. (NASDAQ:ENLT)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $75.73 and last traded at $75.27, with a volume of 325315 shares traded. The stock had previously closed at $64.86.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Barclays restated an “overweight” rating on shares of Enlight Renewable Energy in a report on Wednesday. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $35.00 target price on shares of Enlight Renewable Energy in a research note on Monday, December 8th. Mizuho raised their price target on shares of Enlight Renewable Energy from $24.00 to $27.00 and gave the stock an “underperform” rating in a report on Monday, November 17th. Roth Mkm upped their price objective on shares of Enlight Renewable Energy from $30.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Finally, UBS Group restated a “buy” rating on shares of Enlight Renewable Energy in a report on Wednesday. Three equities 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 MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $41.83.

Enlight Renewable Energy Stock Performance

The company’s 50-day moving average price is $51.71 and its 200 day moving average price is $38.98. The stock has a market capitalization of $8.70 billion, a PE ratio of 78.41 and a beta of 1.42. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.88 and a current ratio of 0.88.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ENLT. BNP Paribas Financial Markets raised its holdings in Enlight Renewable Energy by 256.1% in the second quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock worth $28,000 after purchasing an additional 881 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Enlight Renewable Energy in the 4th quarter worth about $56,000. Savant Capital LLC bought a new position in shares of Enlight Renewable Energy in the 4th quarter worth about $241,000. Bank of Montreal Can lifted its position in Enlight Renewable Energy by 6.4% during the 2nd quarter. Bank of Montreal Can now owns 11,021 shares of the company’s stock valued at $251,000 after acquiring an additional 660 shares during the period. Finally, Jane Street Group LLC lifted its position in Enlight Renewable Energy by 6.0% during the 2nd quarter. Jane Street Group LLC now owns 11,366 shares of the company’s stock valued at $258,000 after acquiring an additional 641 shares during the period. 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.