Enlight Renewable Energy (NASDAQ:ENLT) Reaches New 1-Year High Following Earnings Beat

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) hit a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $93.00 and last traded at $89.3250, with a volume of 122516 shares. The stock had previously closed at $88.80.

The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.07 by $0.09. Enlight Renewable Energy had a return on equity of 7.35% and a net margin of 22.69%.The business had revenue of $156.49 million during the quarter, compared to analyst estimates of $170.66 million.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ENLT shares. Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. UBS Group lifted their target price on Enlight Renewable Energy to $65.00 and gave the company a “buy” rating in a report on Friday, January 16th. Barclays reiterated an “overweight” rating on shares of Enlight Renewable Energy in a report on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft set a $65.00 target price on Enlight Renewable Energy and gave the company a “hold” rating in a report on Thursday, April 9th. Finally, Mizuho set a $37.00 target price on Enlight Renewable Energy in a report on Monday, February 23rd. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $51.67.

Institutional Trading of Enlight Renewable Energy

Institutional investors have recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Enlight Renewable Energy by 3.9% during 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Enlight Renewable Energy by 26.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 57,621 shares of the company’s stock worth $2,618,000 after buying an additional 11,994 shares during the last quarter. Y.D. More Investments Ltd lifted its holdings in Enlight Renewable Energy by 4.5% during the 4th quarter. Y.D. More Investments Ltd now owns 5,837,263 shares of the company’s stock worth $264,965,000 after buying an additional 252,446 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Enlight Renewable Energy by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 4,447,614 shares of the company’s stock worth $136,800,000 after buying an additional 70,338 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in Enlight Renewable Energy by 465.1% during the 3rd quarter. Citigroup Inc. now owns 110,153 shares of the company’s stock worth $3,398,000 after buying an additional 90,662 shares during the last quarter. 38.89% of the stock is owned by hedge funds and other institutional investors.

Enlight Renewable Energy Price Performance

The company has a market capitalization of $10.72 billion, a PE ratio of 88.97, a P/E/G ratio of 11.50 and a beta of 1.51. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.03. The stock has a fifty day simple moving average of $75.20 and a 200-day simple moving average of $56.05.

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.