Enlight Renewable Energy (NASDAQ:ENLT) Hits New 52-Week 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 reached a new 52-week high on Monday . The stock traded as high as $27.61 and last traded at $27.41, with a volume of 16924 shares changing hands. The stock had previously closed at $27.07.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ENLT shares. Barclays raised their target price on shares of 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. raised their target price on shares of 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 reissued a "buy" rating and issued a $28.00 target price on shares of Enlight Renewable Energy in a research note on Wednesday, August 6th. Mizuho set a $21.00 target price on shares of Enlight Renewable Energy and gave the company an "underperform" rating in a research note on Monday, July 14th. Finally, Wall Street Zen cut shares of 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 assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Enlight Renewable Energy currently has a consensus rating of "Hold" and a consensus price target of $24.40.

Enlight Renewable Energy Stock Up 0.8%

The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 2.10. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 29.66, a P/E/G ratio of 3.22 and a beta of 1.51. The stock has a fifty day moving average price of $24.43 and a two-hundred day moving average price of $19.66.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share 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 firm had revenue of $36.37 million for the quarter, compared to analyst estimates of $424.05 million. As a group, sell-side analysts expect that Enlight Renewable Energy Ltd. will post 0.41 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its stake in Enlight Renewable Energy by 256.1% in the second quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company's stock valued at $28,000 after purchasing an additional 881 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Enlight Renewable Energy in the second quarter valued at about $106,000. Jane Street Group LLC acquired a new position in Enlight Renewable Energy in the fourth quarter valued at about $196,000. TD Asset Management Inc acquired a new position in Enlight Renewable Energy in the first quarter valued at about $203,000. Finally, Bank of Montreal Can raised its stake in Enlight Renewable Energy by 6.4% in the second quarter. Bank of Montreal Can now owns 11,021 shares of the company's stock valued at $251,000 after purchasing an additional 660 shares in the last quarter. Institutional investors and hedge funds 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.

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