Enlight Renewable Energy (NASDAQ:ENLT) Reaches New 52-Week High - Should You Buy?

Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report) shares reached a new 52-week high on Thursday . The stock 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.

Analyst Ratings Changes

Several research firms have recently weighed in on ENLT. Wolfe Research lowered Enlight Renewable Energy from an "outperform" rating to a "peer perform" rating in a research note on Thursday, February 20th. Deutsche Bank Aktiengesellschaft began coverage on Enlight Renewable Energy in a research note on Thursday, March 6th. They set a "buy" rating and a $22.00 price objective for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $20.25.

Enlight Renewable Energy Trading Down 0.8%

The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 54.94 and a beta of 1.24. The company has a 50-day moving average price of $16.74 and a 200 day moving average price of $16.69. The company has a quick ratio of 0.53, a current ratio of 1.22 and a debt-to-equity ratio of 1.98.

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

Institutional Trading of Enlight Renewable Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. USS Investment Management Ltd boosted its position in shares of Enlight Renewable Energy by 53.6% in the first quarter. USS Investment Management Ltd now owns 87,757 shares of the company's stock worth $1,418,000 after buying an additional 30,642 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of Enlight Renewable Energy by 70.7% during the first quarter. Advisors Asset Management Inc. now owns 27,565 shares of the company's stock worth $445,000 after acquiring an additional 11,414 shares in the last quarter. Amundi raised its holdings in shares of Enlight Renewable Energy by 2.3% during the first quarter. Amundi now owns 74,681 shares of the company's stock worth $1,160,000 after acquiring an additional 1,647 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Enlight Renewable Energy by 131.6% during the first quarter. Canada Pension Plan Investment Board now owns 255,136 shares of the company's stock worth $4,064,000 after acquiring an additional 144,980 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Enlight Renewable Energy during the first quarter worth $1,597,000. Institutional investors and hedge funds own 38.89% of the company's stock.

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.