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

Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Get Free Report) shares reached a new 52-week high on Thursday . The company traded as high as $35.10 and last traded at $34.59, with a volume of 26923 shares changing hands. The stock had previously closed at $34.18.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wall Street Zen cut shares of Enlight Renewable Energy from a "hold" rating to a "strong sell" rating in a report on Sunday, August 10th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Enlight Renewable Energy in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $30.00 price objective on shares of Enlight Renewable Energy in a report on Wednesday, October 1st. JPMorgan Chase & Co. lifted their price objective on shares of Enlight Renewable Energy from $24.00 to $27.00 and gave the company a "neutral" rating in a report on Friday, September 19th. Finally, Mizuho set a $21.00 price objective on shares of Enlight Renewable Energy and gave the company an "underperform" rating in a report on Monday, July 14th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Enlight Renewable Energy currently has an average rating of "Hold" and a consensus price target of $28.00.

Enlight Renewable Energy Trading Up 1.2%

The company's 50-day moving average price is $28.82 and its 200-day moving average price is $23.03. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 37.60, a price-to-earnings-growth ratio of 2.51 and a beta of 1.54. The company has a quick ratio of 0.70, 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 data on Wednesday, August 6th. The company reported $0.01 earnings per share (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 business had revenue of $36.37 million for the quarter, compared to analysts' expectations of $424.05 million. Equities analysts expect that Enlight Renewable Energy Ltd. will post 0.41 EPS for the current fiscal year.

Institutional Trading of Enlight Renewable Energy

Several large investors have recently bought and sold shares of ENLT. Legal & General Group Plc grew its stake in Enlight Renewable Energy by 259.0% during the 2nd quarter. Legal & General Group Plc now owns 1,867,785 shares of the company's stock valued at $42,377,000 after acquiring an additional 1,347,458 shares in the last quarter. Y.D. More Investments Ltd grew its stake 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. Norges Bank purchased a new stake in Enlight Renewable Energy during the 2nd quarter valued at about $3,608,000. Canada Pension Plan Investment Board grew its stake in Enlight Renewable Energy by 131.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 255,136 shares of the company's stock valued at $4,064,000 after acquiring an additional 144,980 shares in the last quarter. Finally, Phoenix Financial Ltd. grew its stake in Enlight Renewable Energy by 10.3% during the 2nd quarter. Phoenix Financial Ltd. now owns 1,383,986 shares of the company's stock valued at $31,685,000 after acquiring an additional 129,491 shares in the last quarter. Hedge funds and other institutional investors 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.

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