Enlight Renewable Energy (NASDAQ:ENLT) Hits New 1-Year High - What's Next?

Key Points

• Enlight Renewable Energy (NASDAQ:ENLT) reached a new 52-week high of $29.53 during trading, reflecting a notable rise in investor interest.
• JPMorgan Chase & Co. recently raised its price target on ENLT from $18.00 to $25.00, while other analysts have given mixed ratings ranging from "buy" to "strong sell".
• The company reported a net margin of 23.58% with a revenue of $36.37 million in its last quarterly earnings, falling short of estimates of $424.05 million.

Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $29.53 and last traded at $29.26, with a volume of 8015 shares trading hands. The stock had previously closed at $29.19.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ENLT shares. JPMorgan Chase & Co. raised their price objective on Enlight Renewable Energy from $18.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Wall Street Zen lowered shares of Enlight Renewable Energy from a "hold" rating to a "strong sell" rating in a report on Sunday, August 10th. Mizuho set a $21.00 price objective on shares of Enlight Renewable Energy and gave the company an "underperform" rating in a research note on Monday, July 14th. Roth Capital reissued a "buy" rating and set a $28.00 target price on shares of Enlight Renewable Energy in a research note on Wednesday, August 6th. Finally, Barclays upped their price target on shares of Enlight Renewable Energy from $21.00 to $26.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Enlight Renewable Energy currently has a consensus rating of "Hold" and a consensus target price of $24.40.

Enlight Renewable Energy Stock Up 0.2%

The company has a market cap of $3.38 billion, a price-to-earnings ratio of 31.80, a P/E/G ratio of 3.47 and a beta of 1.51. The stock's 50-day moving average is $25.94 and its 200-day moving average is $20.56. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 2.10.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.05). Enlight Renewable Energy had a return on equity of 7.48% and a net margin of 23.58%.The company had revenue of $36.37 million during the quarter, compared to analyst estimates of $424.05 million. On average, analysts anticipate that Enlight Renewable Energy Ltd. will post 0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ENLT. Tidal Investments LLC grew its stake in Enlight Renewable Energy by 18.8% in the second quarter. Tidal Investments LLC now owns 15,943 shares of the company's stock valued at $362,000 after acquiring an additional 2,527 shares during the period. BNP Paribas Financial Markets raised its holdings 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. Jane Street Group LLC lifted its stake in shares of Enlight Renewable Energy by 6.0% in the second 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. Canada Pension Plan Investment Board grew its holdings in shares of Enlight Renewable Energy by 9.7% during the second quarter. Canada Pension Plan Investment Board now owns 279,789 shares of the company's stock valued at $6,348,000 after buying an additional 24,653 shares during the last quarter. Finally, Amundi grew its holdings in shares of Enlight Renewable Energy by 44.9% during the second quarter. Amundi now owns 108,178 shares of the company's stock valued at $2,459,000 after buying an additional 33,497 shares during the last quarter. 38.89% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.