Enlight Renewable Energy (NASDAQ:ENLT) Reaches New 1-Year High - Still a Buy?

Key Points

• Enlight Renewable Energy's stock reached a new 52-week high of $27.61 and last traded at $27.41.
• Analysts have set new price targets for the stock, with Barclays increasing their target to $26.00, while Roth Capital maintains a "buy" rating with a target of $28.00.
• The company reported $0.01 earnings per share for the last quarter, missing expectations of $0.06, with revenue significantly below estimates at $36.37 million compared to $424.05 million.

Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $27.61 and last traded at $27.41, with a volume of 16924 shares trading hands. The stock had previously closed at $27.07.

Analyst Upgrades and Downgrades

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

Enlight Renewable Energy Stock Down 1.5%

The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 2.10. The business has a 50-day moving average price of $25.18 and a 200 day moving average price of $20.00.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last posted its 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). The firm had revenue of $36.37 million for the quarter, compared to the consensus estimate of $424.05 million. Enlight Renewable Energy had a net margin of 23.58% and a return on equity of 7.48%. On average, sell-side analysts expect that Enlight Renewable Energy Ltd. will post 0.41 EPS for the current year.

Institutional Trading of Enlight Renewable Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC raised its holdings in Enlight Renewable Energy by 18.8% during the 2nd quarter. Tidal Investments LLC now owns 15,943 shares of the company's stock valued at $362,000 after buying an additional 2,527 shares during the period. BNP Paribas Financial Markets raised its holdings in Enlight Renewable Energy by 256.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company's stock valued at $28,000 after buying an additional 881 shares during the period. Jane Street Group LLC raised its holdings in Enlight Renewable Energy by 6.0% during 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 during the period. Canada Pension Plan Investment Board raised its holdings in Enlight Renewable Energy by 9.7% during the 2nd 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 period. Finally, Amundi raised its holdings in Enlight Renewable Energy by 44.9% during the 2nd 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 period. Hedge funds and other institutional investors own 38.89% of the company's stock.

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.