Enlight Renewable Energy (NASDAQ:ENLT) Sets New 12-Month High - Time to Buy?

Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $19.83 and last traded at $19.81, with a volume of 20735 shares traded. The stock had previously closed at $18.91.

Analysts Set New Price Targets

Several research firms have issued reports on ENLT. Wolfe Research lowered shares of Enlight Renewable Energy from an "outperform" rating to a "peer perform" rating in a research report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft assumed coverage on Enlight Renewable Energy in a research report on Thursday, March 6th. They set a "buy" rating and a $22.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Enlight Renewable Energy has a consensus rating of "Moderate Buy" and an average price target of $20.25.

Enlight Renewable Energy Trading Up 1.1%

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 stock has a market capitalization of $2.28 billion, a P/E ratio of 54.78 and a beta of 1.24. The firm's 50 day moving average price is $16.74 and its 200 day moving average price is $16.70.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.24. Enlight Renewable Energy had a return on equity of 3.03% and a net margin of 11.09%. The firm had revenue of $129.87 million for the quarter, compared to analyst estimates of $396.61 million. As a group, equities research analysts expect that Enlight Renewable Energy Ltd will post 0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Meitav Investment House Ltd. lifted its position in shares of Enlight Renewable Energy by 4.0% in the 4th quarter. Meitav Investment House Ltd. now owns 5,901,179 shares of the company's stock worth $101,910,000 after purchasing an additional 229,255 shares during the period. Vanguard Group Inc. boosted its position in Enlight Renewable Energy by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 4,227,862 shares of the company's stock valued at $68,107,000 after acquiring an additional 69,329 shares in the last quarter. Y.D. More Investments Ltd boosted its position 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 acquiring an additional 553,337 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Enlight Renewable Energy by 2.5% during the 1st quarter. Invesco Ltd. now owns 1,656,086 shares of the company's stock worth $26,762,000 after acquiring an additional 40,665 shares during the period. Finally, Phoenix Financial Ltd. raised its position in shares of Enlight Renewable Energy by 42.2% in the 4th quarter. Phoenix Financial Ltd. now owns 1,254,495 shares of the company's stock worth $21,634,000 after acquiring an additional 372,403 shares in 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.