Enlight Renewable Energy (NASDAQ:ENLT) Reaches New 52-Week High – Time to Buy?

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) shares hit a new 52-week high during trading on Monday . The company traded as high as $94.46 and last traded at $94.91, with a volume of 69888 shares changing hands. The stock had previously closed at $90.51.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ENLT. Weiss Ratings reissued a “hold (c)” rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. Mizuho set a $37.00 price objective on shares of Enlight Renewable Energy in a report on Monday, February 23rd. UBS Group boosted their price objective on shares of Enlight Renewable Energy from $93.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. boosted their price objective on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the company an “underweight” rating in a report on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft set a $65.00 price objective on shares of Enlight Renewable Energy and gave the company a “hold” rating in a report on Thursday, April 9th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Enlight Renewable Energy presently has a consensus rating of “Hold” and a consensus target price of $60.17.

Enlight Renewable Energy Stock Up 3.6%

The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market cap of $11.12 billion, a P/E ratio of 218.07, a P/E/G ratio of 26.35 and a beta of 1.51. The stock’s fifty day simple moving average is $76.36 and its 200-day simple moving average is $57.22.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share for the quarter. The company had revenue of $156.49 million during the quarter. Enlight Renewable Energy had a net margin of 9.47% and a return on equity of 2.48%. As a group, research analysts forecast that Enlight Renewable Energy Ltd. will post 0.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Lisa Haimovitz sold 737 shares of Enlight Renewable Energy stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $92.75, for a total value of $68,356.75. Following the transaction, the vice president directly owned 13,026 shares of the company’s stock, valued at $1,208,161.50. This trade represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Yair Seroussi sold 22,505 shares of Enlight Renewable Energy stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $90.63, for a total transaction of $2,039,628.15. Following the completion of the transaction, the insider directly owned 14,233 shares in the company, valued at $1,289,936.79. This trade represents a 61.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 26,275 shares of company stock worth $2,378,043 over the last three months.

Hedge Funds Weigh In On Enlight Renewable Energy

A number of hedge funds have recently bought and sold shares of ENLT. BNP Paribas Financial Markets raised its stake in Enlight Renewable Energy by 256.1% during the second quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock worth $28,000 after buying an additional 881 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Enlight Renewable Energy during the fourth quarter valued at about $56,000. Savant Capital LLC bought a new position in shares of Enlight Renewable Energy during the fourth quarter valued at about $241,000. Jane Street Group LLC lifted its position in shares of Enlight Renewable Energy by 6.0% during the second quarter. Jane Street Group LLC now owns 11,366 shares of the company’s stock valued at $258,000 after purchasing an additional 641 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new position in shares of Enlight Renewable Energy during the fourth quarter valued at about $277,000. 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.