Enlight Renewable Energy (NASDAQ:ENLT) Hits New 1-Year High - Still a Buy?

Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $18.79 and last traded at $18.59, with a volume of 27298 shares changing hands. The stock had previously closed at $18.18.

Analysts Set New Price Targets

A number of equities analysts have commented on ENLT shares. JPMorgan Chase & Co. increased their target price on Enlight Renewable Energy from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Enlight Renewable Energy in a research note on Thursday, March 6th. They issued a "buy" rating and a $22.00 price target for the company. Finally, 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. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $20.25.

Enlight Renewable Energy Trading Down 3.1%

The company has a market cap of $2.20 billion, a PE ratio of 52.92 and a beta of 1.24. The company's 50 day simple moving average is $16.33 and its two-hundred day simple moving average is $16.47. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.22 and a quick ratio of 0.53.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last posted 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. The firm had revenue of $129.87 million during the quarter, compared to analysts' expectations of $396.61 million. Enlight Renewable Energy had a net margin of 11.09% and a return on equity of 3.03%. As a group, sell-side analysts anticipate that Enlight Renewable Energy Ltd will post 0.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Enlight Renewable Energy

Large investors have recently added to or reduced their stakes in the business. Edmond DE Rothschild Holding S.A. boosted its position in Enlight Renewable Energy by 51.0% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 1,850 shares of the company's stock valued at $32,000 after buying an additional 625 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Enlight Renewable Energy by 2.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 39,872 shares of the company's stock valued at $690,000 after purchasing an additional 947 shares during the period. Amundi grew its stake in Enlight Renewable Energy by 2.3% during the 1st quarter. Amundi now owns 74,681 shares of the company's stock worth $1,160,000 after purchasing an additional 1,647 shares in the last quarter. Geode Capital Management LLC increased its holdings in Enlight Renewable Energy by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 106,057 shares of the company's stock worth $1,829,000 after purchasing an additional 2,467 shares during the period. Finally, Deutsche Bank AG increased its holdings in Enlight Renewable Energy by 0.6% during the 4th quarter. Deutsche Bank AG now owns 425,693 shares of the company's stock worth $7,343,000 after purchasing an additional 2,748 shares during the period. 38.89% of the stock is owned by hedge funds and other 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.