Enlight Renewable Energy (NASDAQ:ENLT) Reaches New 12-Month High – What’s Next?

by · The Markets Daily

Enlight Renewable Energy Ltd. (NASDAQ:ENLT – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $42.38 and last traded at $41.94, with a volume of 36487 shares traded. The stock had previously closed at $40.87.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $30.00 price objective on shares of Enlight Renewable Energy in a research report on Wednesday, October 1st. Wall Street Zen cut Enlight Renewable Energy from a “hold” rating to a “strong sell” rating in a report on Sunday, August 10th. JPMorgan Chase & Co. lifted their price objective on Enlight Renewable Energy from $27.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. UBS Group started coverage on Enlight Renewable Energy in a research note on Monday, November 24th. They issued a “buy” rating and a $47.00 target price for the company. Finally, Mizuho lifted their price target on shares of Enlight Renewable Energy from $24.00 to $27.00 and gave the stock an “underperform” rating in a research note on Monday, November 17th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $36.50.

Get Our Latest Stock Analysis on Enlight Renewable Energy

Enlight Renewable Energy Price Performance

The firm has a 50 day simple moving average of $35.61 and a 200-day simple moving average of $28.30. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.88 and a current ratio of 0.88.

Enlight Renewable Energy (NASDAQ:ENLT – Get Free Report) last announced its 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. Enlight Renewable Energy had a net margin of 22.60% and a return on equity of 7.41%. The business had revenue of $165.06 million during the quarter, compared to analysts’ expectations of $146.04 million. Equities analysts anticipate that Enlight Renewable Energy Ltd. will post 0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Y.D. More Investments Ltd grew its holdings in shares of Enlight Renewable Energy by 18.0% during the first quarter. Y.D. More Investments Ltd now owns 3,621,516 shares of the company’s stock worth $57,870,000 after purchasing an additional 553,337 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Enlight Renewable Energy by 1.7% during the first quarter. Vanguard Group Inc. now owns 4,227,862 shares of the company’s stock valued at $68,107,000 after purchasing an additional 69,329 shares during the last quarter. Meitav Investment House Ltd. boosted its position in Enlight Renewable Energy by 0.3% in the 2nd quarter. Meitav Investment House Ltd. now owns 5,668,798 shares of the company’s stock valued at $128,607,000 after buying an additional 19,582 shares during the last quarter. Deutsche Bank AG increased its position in Enlight Renewable Energy by 13.6% in the first quarter. Deutsche Bank AG now owns 483,774 shares of the company’s stock worth $7,818,000 after purchasing an additional 58,081 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of Enlight Renewable Energy by 39.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,081 shares of the company’s stock worth $320,000 after buying an additional 4,008 shares during the period. 38.89% of the stock is owned by institutional investors and hedge funds.

Enlight Renewable Energy Company Profile

(Get Free Report)

Enlight Renewable Energy Ltd operates a renewable energy platform in Israel, Central-Eastern Europe, Western Europe, and the United States. The company develops, finances, constructs, owns, and operates utility-scale renewable energy projects. It develops wind energy and solar energy projects, as well as energy storage projects.

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