Enlight Renewable Energy (NASDAQ:ENLT) Reaches New 12-Month High – Here’s Why

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) shares reached a new 52-week high on Monday . The stock traded as high as $42.77 and last traded at $42.9670, with a volume of 5204 shares. The stock had previously closed at $41.80.

Analyst Upgrades and Downgrades

Several research firms have commented on ENLT. UBS Group began coverage on shares of Enlight Renewable Energy in a report on Monday, November 24th. They issued a “buy” rating and a $47.00 target price on the stock. Roth Capital lifted 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. Barclays boosted their price objective on shares of Enlight Renewable Energy from $34.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $30.00 target price on shares of Enlight Renewable Energy in a report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $35.00 price target on shares of Enlight Renewable Energy in a report on Monday, December 8th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $37.50.

Enlight Renewable Energy Price Performance

The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.91. The stock has a fifty day simple moving average of $37.60 and a two-hundred day simple moving average of $30.27.

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

Hedge Funds Weigh In On Enlight Renewable Energy

Several large investors have recently added to or reduced their stakes in the business. Mariner LLC boosted its holdings in Enlight Renewable Energy by 4.1% during the third quarter. Mariner LLC now owns 10,070 shares of the company’s stock worth $314,000 after purchasing an additional 396 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Enlight Renewable Energy by 1.0% during the third quarter. Public Employees Retirement System of Ohio now owns 45,693 shares of the company’s stock valued at $1,409,000 after purchasing an additional 472 shares during the last quarter. Jane Street Group LLC grew its stake in Enlight Renewable Energy by 6.0% in the 2nd quarter. Jane Street Group LLC now owns 11,366 shares of the company’s stock valued at $258,000 after buying an additional 641 shares in the last quarter. Bank of Montreal Can raised its stake in shares of 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 purchasing an additional 660 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Enlight Renewable Energy by 0.7% during the second quarter. Geode Capital Management LLC now owns 108,157 shares of the company’s stock valued at $2,458,000 after buying an additional 773 shares during the period. Institutional investors 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.