Enlight Renewable Energy (NASDAQ:ENLT) Hits New 52-Week High - What's Next?

Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $20.44 and last traded at $19.70, with a volume of 87961 shares traded. The stock had previously closed at $19.47.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ENLT shares. Wolfe Research downgraded Enlight Renewable Energy from an "outperform" rating to a "peer perform" rating in a research report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft started coverage on Enlight Renewable Energy in a research report on Thursday, March 6th. They issued a "buy" rating and a $22.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $20.25.

Enlight Renewable Energy Stock Down 0.1%

The firm has a 50-day moving average price of $17.11 and a 200 day moving average price of $16.81. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.22 and a quick ratio of 0.53. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 54.72 and a beta of 1.41.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.24. The business had revenue of $129.87 million during the quarter, compared to analysts' expectations of $396.61 million. Enlight Renewable Energy had a return on equity of 3.03% and a net margin of 11.09%. Sell-side analysts predict that Enlight Renewable Energy Ltd will post 0.41 EPS for the current year.

Institutional Investors Weigh In On Enlight Renewable Energy

Several institutional investors have recently made changes to their positions in ENLT. Y.D. More Investments Ltd boosted its stake in shares of Enlight Renewable Energy by 18.0% in the first quarter. Y.D. More Investments Ltd now owns 3,621,516 shares of the company's stock valued at $57,870,000 after buying an additional 553,337 shares during the period. Phoenix Financial Ltd. boosted its stake in shares of Enlight Renewable Energy by 42.2% in the fourth quarter. Phoenix Financial Ltd. now owns 1,254,495 shares of the company's stock valued at $21,634,000 after buying an additional 372,403 shares during the period. Meitav Investment House Ltd. boosted its stake in shares of Enlight Renewable Energy by 4.0% in the fourth quarter. Meitav Investment House Ltd. now owns 5,901,179 shares of the company's stock valued at $101,910,000 after buying an additional 229,255 shares during the period. Norges Bank bought a new stake in Enlight Renewable Energy during the fourth quarter worth $3,631,000. Finally, Canada Pension Plan Investment Board lifted its stake in Enlight Renewable Energy by 131.6% during the first quarter. Canada Pension Plan Investment Board now owns 255,136 shares of the company's stock worth $4,064,000 after purchasing an additional 144,980 shares during the last quarter. 38.89% of the stock is currently owned by institutional investors.

Enlight Renewable Energy Company Profile

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.