Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Receives $43.50 Consensus Price Target from Brokerages

Shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT) have been assigned a consensus rating of “Hold” from the seven research firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $43.50.

Several research firms have commented on ENLT. Barclays reissued an “overweight” rating on shares of Enlight Renewable Energy in a report on Wednesday, February 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Monday, December 29th. JPMorgan Chase & Co. restated an “underweight” rating and set a $35.00 price objective on shares of Enlight Renewable Energy in a research note on Monday, December 8th. Roth Mkm lifted their target price on shares of Enlight Renewable Energy from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Finally, UBS Group increased their price target on shares of Enlight Renewable Energy to $65.00 and gave the company a “buy” rating in a report on Friday, January 16th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ENLT. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Enlight Renewable Energy by 3.9% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,722,610 shares of the company’s stock worth $84,837,000 after buying an additional 103,430 shares in the last quarter. Y.D. More Investments Ltd boosted its holdings in shares of Enlight Renewable Energy by 2.4% during the 2nd quarter. Y.D. More Investments Ltd now owns 3,709,733 shares of the company’s stock valued at $84,053,000 after acquiring an additional 88,217 shares during the last quarter. 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 during the period. Rockefeller Capital Management L.P. bought a new stake in shares of Enlight Renewable Energy in the second quarter worth approximately $597,000. Finally, Norges Bank purchased a new position in shares of Enlight Renewable Energy during the second quarter valued at approximately $3,608,000. 38.89% of the stock is owned by institutional investors.

Enlight Renewable Energy Trading Up 1.0%

Shares of ENLT opened at $70.05 on Tuesday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.88 and a current ratio of 0.67. Enlight Renewable Energy has a fifty-two week low of $14.01 and a fifty-two week high of $81.28. The firm’s 50-day simple moving average is $56.01 and its two-hundred day simple moving average is $41.04.

Enlight Renewable Energy (NASDAQ:ENLT) last released its earnings results on Tuesday, February 17th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.17. The firm had revenue of $124.19 million during the quarter, compared to analyst estimates of $146.12 million. Enlight Renewable Energy had a net margin of 22.69% and a return on equity of 7.35%. Sell-side analysts forecast 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.