Enlight Renewable Energy (NASDAQ:ENLT) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. increased its price target for Enlight Renewable Energy from $24.00 to $27.00, maintaining a "neutral" rating despite indicating a potential downside of 6.80% from the company's previous close.
• Enlight Renewable Energy's stock value rose by 0.9% on Friday, reaching $28.97 per share, with a 1-year trading range between $14.01 and $29.84.
• The company has received mixed ratings from analysts, with three rating it as a Buy, while others have varying Hold and Sell ratings, resulting in an average target price of $24.80.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) had its target price lifted by investment analysts at JPMorgan Chase & Co. from $24.00 to $27.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential downside of 5.69% from the company's previous close.

Several other analysts have also commented on ENLT. Wall Street Zen lowered Enlight Renewable Energy from a "hold" rating to a "strong sell" rating in a report on Sunday, August 10th. Barclays upped their price objective on shares of Enlight Renewable Energy from $21.00 to $26.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Mizuho set a $21.00 target price on shares of Enlight Renewable Energy and gave the stock an "underperform" rating in a research note on Monday, July 14th. Finally, Roth Capital reissued a "buy" rating and set a $28.00 target price on shares of Enlight Renewable Energy in a research note on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $24.80.

Enlight Renewable Energy Stock Down 0.9%

NASDAQ ENLT traded down $0.25 during mid-day trading on Friday, reaching $28.63. 9,221 shares of the stock were exchanged, compared to its average volume of 23,003. The business's 50 day moving average is $26.60 and its 200-day moving average is $21.35. Enlight Renewable Energy has a 1 year low of $14.01 and a 1 year high of $29.84. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.70 and a current ratio of 0.70.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.05). The firm had revenue of $36.37 million during the quarter, compared to analyst estimates of $424.05 million. Enlight Renewable Energy had a return on equity of 7.48% and a net margin of 23.58%. On average, equities analysts forecast that Enlight Renewable Energy will post 0.41 earnings per share for the current year.

Hedge Funds Weigh In On Enlight Renewable Energy

Several large investors have recently modified their holdings of the business. Jane Street Group LLC purchased a new stake in Enlight Renewable Energy in the 4th quarter valued at about $196,000. USS Investment Management Ltd acquired a new stake in shares of Enlight Renewable Energy during the fourth quarter valued at about $985,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Enlight Renewable Energy by 9.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 336,224 shares of the company's stock valued at $5,798,000 after acquiring an additional 28,792 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Enlight Renewable Energy by 2.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 39,872 shares of the company's stock valued at $690,000 after acquiring an additional 947 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Enlight Renewable Energy by 1.9% during the first quarter. Assenagon Asset Management S.A. now owns 350,203 shares of the company's stock valued at $5,582,000 after acquiring an additional 6,381 shares during the last quarter. 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.