Enlight Renewable Energy (NASDAQ:ENLT) Sets New 52-Week High - Still a Buy?

Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Get Free Report)'s share price 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.

Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft assumed coverage on Enlight Renewable Energy in a research report on Thursday, March 6th. They issued a "buy" rating and a $22.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $20.25.

Enlight Renewable Energy Price Performance

The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.95. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 22.41 and a beta of 1.41. The stock's 50 day moving average price is $18.02 and its two-hundred day moving average price is $17.06.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.75 earnings per share for the quarter, beating 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 net margin of 27.82% and a return on equity of 8.17%. 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

Several institutional investors have recently added to or reduced their stakes in ENLT. Vanguard Group Inc. boosted its stake in shares of Enlight Renewable Energy by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 4,158,533 shares of the company's stock worth $71,926,000 after acquiring an additional 35,555 shares during the period. Norges Bank bought a new stake in Enlight Renewable Energy during the 4th quarter worth $3,631,000. Pictet Asset Management Holding SA grew its position in Enlight Renewable Energy by 19.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 125,865 shares of the company's stock worth $2,178,000 after acquiring an additional 20,345 shares during the last quarter. Edmond DE Rothschild Holding S.A. grew its position in shares of 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 last quarter. Finally, Geode Capital Management LLC grew its position in shares of Enlight Renewable Energy by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 106,057 shares of the company's stock valued at $1,829,000 after buying an additional 2,467 shares during the last quarter. 38.89% of the stock is owned by institutional investors.

Enlight Renewable Energy Company Profile

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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