Enlight Renewable Energy (NASDAQ:ENLT) Reaches New 52-Week High – What’s Next?

Enlight Renewable Energy Ltd. (NASDAQ:ENLT)’s stock price hit a new 52-week high during mid-day trading on Saturday . The stock traded as high as $56.19 and last traded at $55.92, with a volume of 59123 shares. The stock had previously closed at $53.92.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ENLT shares. Barclays boosted their price objective on Enlight Renewable Energy from $34.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $35.00 target price on shares of Enlight Renewable Energy in a research report on Monday, December 8th. Mizuho boosted 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Enlight Renewable Energy in a report on Monday, December 29th. Finally, UBS Group boosted their target price on shares of Enlight Renewable Energy to $65.00 and gave the stock a “buy” rating in a report on Friday, January 16th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $41.83.

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 business’s 50-day simple moving average is $44.20 and its two-hundred day simple moving average is $34.56. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of 58.25 and a beta of 1.44.

Enlight Renewable Energy (NASDAQ:ENLT) last issued 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. Enlight Renewable Energy had a net margin of 22.60% and a return on equity of 7.41%. The firm had revenue of $165.06 million for the quarter, compared to the consensus estimate of $146.04 million. As a group, research analysts expect that Enlight Renewable Energy Ltd. will post 0.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Enlight Renewable Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its stake in Enlight Renewable Energy by 256.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock valued at $28,000 after purchasing an additional 881 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Enlight Renewable Energy in the fourth quarter valued at approximately $56,000. Bank of Montreal Can boosted its position in shares of Enlight Renewable Energy by 6.4% during the second quarter. Bank of Montreal Can now owns 11,021 shares of the company’s stock valued at $251,000 after buying an additional 660 shares during the last quarter. Jane Street Group LLC grew its holdings in Enlight Renewable Energy by 6.0% during the second quarter. Jane Street Group LLC now owns 11,366 shares of the company’s stock worth $258,000 after buying an additional 641 shares in the last quarter. Finally, TD Asset Management Inc raised its position in Enlight Renewable Energy by 8.8% in the 2nd quarter. TD Asset Management Inc now owns 13,821 shares of the company’s stock valued at $314,000 after buying an additional 1,114 shares during the last quarter. 38.89% of the stock is currently owned by institutional investors.

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.