Enlight Renewable Energy (NASDAQ:ENLT) Sets New 1-Year High - Should You Buy?

Key Points

• Enlight Renewable Energy (NASDAQ:ENLT) hit a new 52-week high of $82.31 (last trade $82.568) and has a market cap of about $9.72 billion, though intraday volume was light (~3,800 shares).
• Analyst sentiment is mixed: the consensus rating is "Hold" with a $48 consensus price target, based on 3 Buys, 2 Holds and 2 Sells and individual targets ranging from $37 to $65.
• Fundamentals show high valuation and leverage — P/E ~80.9, debt-to-equity 2.03 and current/quick ratios of 0.67 — and the company recently beat EPS estimates ($0.10 vs. -$0.07) but missed revenue expectations for the quarter.

Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $82.31 and last traded at $82.5680, with a volume of 3767 shares traded. The stock had previously closed at $80.99.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. UBS Group upped their target price on Enlight Renewable Energy to $65.00 and gave the stock a "buy" rating in a research note on Friday, January 16th. Mizuho set a $37.00 price objective on Enlight Renewable Energy in a research note on Monday, February 23rd. Deutsche Bank Aktiengesellschaft set a $65.00 price objective on Enlight Renewable Energy and gave the company a "hold" rating in a research note on Thursday, April 9th. Barclays reissued an "overweight" rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Enlight Renewable Energy has a consensus rating of "Hold" and a consensus price target of $48.00.

Enlight Renewable Energy Stock Performance

The business has a fifty day simple moving average of $70.16 and a 200-day simple moving average of $51.57. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.03. The firm has a market cap of $9.72 billion, a P/E ratio of 80.94, a P/E/G ratio of 10.17 and a beta of 1.21.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last issued its quarterly earnings results on Saturday, February 14th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.17. Enlight Renewable Energy had a return on equity of 7.35% and a net margin of 22.69%.The firm had revenue of $124.19 million during the quarter, compared to the consensus estimate of $146.12 million. On average, sell-side analysts predict that Enlight Renewable Energy Ltd. will post 0.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Enlight Renewable Energy

Institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets grew its stake in shares of 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 purchasing an additional 881 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Enlight Renewable Energy during the 4th quarter valued at about $56,000. Savant Capital LLC bought a new stake in shares of Enlight Renewable Energy during the 4th quarter valued at about $241,000. Mackenzie Financial Corp bought a new stake in shares of Enlight Renewable Energy during the 4th quarter valued at about $277,000. Finally, AQR Capital Management LLC bought a new stake in shares of Enlight Renewable Energy during the 4th quarter valued at about $283,000. 38.89% of the stock is owned by hedge funds and other institutional investors.

About Enlight Renewable Energy

Enlight Renewable Energy Ltd. NASDAQ: ENLT is an independent power producer specializing in the development, financing, construction and operation of renewable energy assets. The company's portfolio encompasses utility-scale solar photovoltaic (PV) farms, onshore wind farms and energy storage facilities. By providing end-to-end project management—from site identification and feasibility studies through engineering procurement and construction (EPC) to long-term operations and maintenance—Enlight seeks to deliver reliable clean power under long-term power purchase agreements (PPAs).

Founded in 2008 and headquartered in Tel Aviv, Enlight has pursued an international growth strategy with operational and development projects in Israel and Western Europe.

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