Enlight Renewable Energy (NASDAQ:ENLT) Reaches New 52-Week High - Here's What Happened

Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $21.74 and last traded at $21.74, with a volume of 58791 shares. The stock had previously closed at $21.01.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft began coverage on Enlight Renewable Energy in a research note on Thursday, March 6th. They issued 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 issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $20.25.

Enlight Renewable Energy Stock Performance

The firm's fifty day moving average is $18.46 and its 200-day moving average is $17.18. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.95.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.24. The firm had revenue of $129.87 million for the quarter, compared to analyst estimates of $396.61 million. Enlight Renewable Energy had a net margin of 27.82% and a return on equity of 8.17%. Equities research analysts forecast that Enlight Renewable Energy Ltd. will post 0.41 EPS for the current year.

Institutional Investors Weigh In On Enlight Renewable Energy

Hedge funds have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Enlight Renewable Energy by 9.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 336,224 shares of the company's stock worth $5,798,000 after purchasing an additional 28,792 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Enlight Renewable Energy by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 4,158,533 shares of the company's stock worth $71,926,000 after purchasing an additional 35,555 shares during the last quarter. Norges Bank acquired a new position in shares of Enlight Renewable Energy in the fourth quarter valued at approximately $3,631,000. Phoenix Financial Ltd. raised its holdings in Enlight Renewable Energy by 42.2% in the 4th quarter. Phoenix Financial Ltd. now owns 1,254,495 shares of the company's stock valued at $21,634,000 after buying an additional 372,403 shares during the last quarter. Finally, USS Investment Management Ltd bought a new position in Enlight Renewable Energy in the 4th quarter valued at approximately $985,000. 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.