Enlight Renewable Energy (NASDAQ:ENLT) Price Target Raised to $27.00

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 price objective upped by JPMorgan Chase & Co. from $24.00 to $27.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential downside of 7.44% from the stock's current price.

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

Enlight Renewable Energy Stock Performance

Shares of NASDAQ:ENLT traded up $0.46 during trading on Friday, hitting $29.17. The company's stock had a trading volume of 10,485 shares, compared to its average volume of 17,243. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.70 and a quick ratio of 0.70. The company has a 50-day moving average of $26.52 and a 200-day moving average of $21.26. Enlight Renewable Energy has a 12 month low of $14.01 and a 12 month high of $29.84.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last announced its earnings results 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). The business had revenue of $36.37 million for the quarter, compared to the consensus estimate of $424.05 million. Enlight Renewable Energy had a net margin of 23.58% and a return on equity of 7.48%. On average, sell-side analysts anticipate that Enlight Renewable Energy will post 0.41 earnings per share for the current year.

Institutional Trading of Enlight Renewable Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets increased its stake in Enlight Renewable Energy by 256.1% in the second quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company's stock worth $28,000 after purchasing an additional 881 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Enlight Renewable Energy during the 2nd quarter worth $106,000. Jane Street Group LLC bought a new position in shares of Enlight Renewable Energy during the 4th quarter worth $196,000. TD Asset Management Inc bought a new position in shares of Enlight Renewable Energy during the 1st quarter worth $203,000. Finally, Bank of Montreal Can grew its position in shares of Enlight Renewable Energy by 6.4% during the 2nd quarter. Bank of Montreal Can now owns 11,021 shares of the company's stock worth $251,000 after buying an additional 660 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.