Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Receives Average Rating of “Hold” from Analysts

Shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT) have received an average recommendation of “Hold” from the eight research firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $38.8333.

A number of research analysts have recently issued reports on the company. UBS Group started coverage on Enlight Renewable Energy in a report on Monday, November 24th. They issued a “buy” rating and a $47.00 target price on the stock. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $35.00 price target on shares of Enlight Renewable Energy in a report on Monday, December 8th. 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 note on Thursday, November 13th. Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Monday, December 29th. Finally, Mizuho lifted their target price on shares of Enlight Renewable Energy from $24.00 to $27.00 and gave the company an “underperform” rating in a report on Monday, November 17th.

Hedge Funds Weigh In On Enlight Renewable Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio lifted its holdings in shares of Enlight Renewable Energy by 1.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 45,693 shares of the company’s stock valued at $1,409,000 after buying an additional 472 shares during the period. Mariner LLC raised its position in Enlight Renewable Energy by 4.1% in the third quarter. Mariner LLC now owns 10,070 shares of the company’s stock worth $314,000 after acquiring an additional 396 shares in the last quarter. Bank of America Corp DE lifted its holdings in Enlight Renewable Energy by 1,734.8% in the third quarter. Bank of America Corp DE now owns 97,684 shares of the company’s stock valued at $3,044,000 after acquiring an additional 92,360 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Enlight Renewable Energy by 129.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 82,272 shares of the company’s stock worth $2,537,000 after purchasing an additional 46,368 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Enlight Renewable Energy by 2.8% during the 3rd quarter. Legal & General Group Plc now owns 1,920,888 shares of the company’s stock worth $59,253,000 after purchasing an additional 53,103 shares during the period. Institutional investors and hedge funds own 38.89% of the company’s stock.

Enlight Renewable Energy Price Performance

Shares of NASDAQ:ENLT opened at $51.77 on Monday. Enlight Renewable Energy has a one year low of $14.01 and a one year high of $52.29. The company has a 50-day simple moving average of $40.96 and a 200-day simple moving average of $32.60. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.91.

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, topping analysts’ consensus estimates of $0.07 by $0.09. The firm had revenue of $165.06 million for the quarter, compared to analyst estimates of $146.04 million. Enlight Renewable Energy had a return on equity of 7.41% and a net margin of 22.60%. As a group, equities research analysts forecast that Enlight Renewable Energy will post 0.41 EPS for the current year.

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.