Enlight Renewable Energy (NASDAQ:ENLT) Given New $26.00 Price Target at Barclays

Key Points

• Barclays has raised the price target for Enlight Renewable Energy (NASDAQ:ENLT) from $21.00 to $26.00, indicating a potential upside of 9.57% from the current stock price.
• Multiple research firms have varied opinions on ENLT, with ratings ranging from "underperform" to "buy," while the average consensus rating is currently "Hold" with a target price of $22.80.
• The company's latest earnings report revealed a missed estimate with an EPS of $0.01 compared to the expected $0.06, alongside a reported net margin of 27.82%.

Enlight Renewable Energy (NASDAQ:ENLT - Free Report) had its price objective raised by Barclays from $21.00 to $26.00 in a research note released on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also issued reports on ENLT. Wall Street Zen upgraded Enlight Renewable Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Roth Capital reissued a "buy" rating on shares of Enlight Renewable Energy in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on Enlight Renewable Energy from $18.00 to $25.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Finally, Mizuho set a $21.00 price target on Enlight Renewable Energy and gave the stock an "underperform" rating in a report on Monday, July 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $22.80.

Enlight Renewable Energy Trading Up 2.1%

Enlight Renewable Energy stock traded up $0.48 during trading hours on Thursday, hitting $23.82. The company had a trading volume of 26,846 shares, compared to its average volume of 22,289. The firm's fifty day moving average is $23.14 and its 200-day moving average is $18.96. Enlight Renewable Energy has a fifty-two week low of $14.01 and a fifty-two week high of $27.16. The company has a quick ratio of 1.31, a current ratio of 0.70 and a debt-to-equity ratio of 2.10.

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

Hedge Funds Weigh In On Enlight Renewable Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Y.D. More Investments Ltd raised its holdings in Enlight Renewable Energy by 18.0% during the 1st 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. lifted its stake in Enlight Renewable Energy by 42.2% in the fourth quarter. Phoenix Financial Ltd. now owns 1,254,495 shares of the company's stock worth $21,634,000 after purchasing an additional 372,403 shares during the last quarter. Norges Bank bought a new stake in Enlight Renewable Energy in the fourth quarter worth about $3,631,000. Canada Pension Plan Investment Board lifted its stake in Enlight Renewable Energy by 131.6% in 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. Finally, Nuveen LLC bought a new stake in Enlight Renewable Energy in the first quarter worth about $1,597,000. 38.89% of the stock is owned by institutional investors.

About Enlight Renewable Energy

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.