Enlight Renewable Energy (NASDAQ:ENLT) Sets New 52-Week High – Here’s Why

Enlight Renewable Energy Ltd. (NASDAQ:ENLT)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $89.50 and last traded at $88.99, with a volume of 36530 shares changing hands. The stock had previously closed at $87.57.

Analyst Ratings Changes

A number of research analysts have weighed in on ENLT shares. UBS Group boosted their target price on shares of Enlight Renewable Energy to $65.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Mizuho set a $37.00 price objective on Enlight Renewable Energy in a research note on Monday, February 23rd. Barclays reissued an “overweight” rating on shares of Enlight Renewable Energy in a research report on Wednesday, February 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. Finally, JPMorgan Chase & Co. lifted their price target on Enlight Renewable Energy from $45.00 to $57.00 and gave the stock an “underweight” rating in a research report on Thursday, April 16th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $51.67.

Enlight Renewable Energy Stock Performance

The firm’s fifty day moving average price is $73.71 and its 200-day moving average price is $54.50. The company has a market cap of $10.61 billion, a P/E ratio of 87.72, a P/E/G ratio of 11.02 and a beta of 1.21. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.03.

Enlight Renewable Energy (NASDAQ:ENLT) last released its earnings results on Saturday, February 14th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.17. Enlight Renewable Energy had a return on equity of 7.35% and a net margin of 22.69%.The business had revenue of $124.19 million for the quarter, compared to the consensus estimate of $146.12 million. As a group, research analysts forecast that Enlight Renewable Energy Ltd. will post 0.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. BNP Paribas Financial Markets lifted its position in Enlight Renewable Energy by 256.1% in the second quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock worth $28,000 after purchasing an additional 881 shares during the period. V Square Quantitative Management LLC bought a new stake in Enlight Renewable Energy in the 4th quarter valued at $56,000. Savant Capital LLC bought a new stake in Enlight Renewable Energy in the 4th quarter valued at $241,000. Jane Street Group LLC raised its stake in shares of 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. Finally, Mackenzie Financial Corp acquired a new position in shares of Enlight Renewable Energy in the 4th quarter valued at $277,000. 38.89% of the stock is currently owned by institutional investors and hedge funds.

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.