Enlight Renewable Energy (NASDAQ:ENLT) Sets New 52-Week High – Should You Buy?

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) shares reached a new 52-week high during trading on Monday . The company traded as high as $89.50 and last traded at $88.99, with a volume of 36530 shares traded. The stock had previously closed at $87.57.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ENLT. Barclays reissued an “overweight” rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. JPMorgan Chase & Co. boosted their price objective on Enlight Renewable Energy from $45.00 to $57.00 and gave the stock an “underweight” rating in a research note on Thursday, April 16th. Deutsche Bank Aktiengesellschaft set a $65.00 price objective on Enlight Renewable Energy and gave the stock a “hold” rating in a research note on Thursday, April 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. Finally, Mizuho set a $37.00 price objective on Enlight Renewable Energy in a research note on Monday, February 23rd. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $51.67.

Enlight Renewable Energy Stock Down 0.9%

The business has a 50-day moving average price of $74.47 and a 200-day moving average price of $55.28. The company has a market capitalization of $10.43 billion, a price-to-earnings ratio of 86.22, a price-to-earnings-growth ratio of 11.24 and a beta of 1.21. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.03.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its earnings results on Saturday, February 14th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.17. The company had revenue of $124.19 million for the quarter, compared to analyst estimates of $146.12 million. Enlight Renewable Energy had a return on equity of 7.35% and a net margin of 22.69%. As a group, equities analysts anticipate that Enlight Renewable Energy Ltd. will post 0.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enlight Renewable Energy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. raised its position in shares of Enlight Renewable Energy by 0.9% during the fourth quarter. Advisors Asset Management Inc. now owns 26,865 shares of the company’s stock worth $1,221,000 after purchasing an additional 251 shares during the period. Mariner LLC raised its position in shares of Enlight Renewable Energy by 4.1% during the third quarter. Mariner LLC now owns 10,070 shares of the company’s stock worth $314,000 after purchasing an additional 396 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Enlight Renewable Energy by 1.0% during the third quarter. Public Employees Retirement System of Ohio now owns 45,693 shares of the company’s stock worth $1,409,000 after purchasing an additional 472 shares during the period. Jane Street Group LLC raised its position in shares of Enlight Renewable Energy by 6.0% during the second quarter. Jane Street Group LLC now owns 11,366 shares of the company’s stock worth $258,000 after purchasing an additional 641 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Enlight Renewable Energy by 0.7% during the second quarter. Geode Capital Management LLC now owns 108,157 shares of the company’s stock worth $2,458,000 after purchasing an additional 773 shares during the period. 38.89% of the stock is owned by institutional investors and hedge funds.

About Enlight Renewable Energy

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) is an independent power producer specializing in the development, financing, construction and operation of renewable energy assets. The company’s portfolio encompasses utility-scale solar photovoltaic (PV) farms, onshore wind farms and energy storage facilities. By providing end-to-end project management—from site identification and feasibility studies through engineering procurement and construction (EPC) to long-term operations and maintenance—Enlight seeks to deliver reliable clean power under long-term power purchase agreements (PPAs).

Founded in 2008 and headquartered in Tel Aviv, Enlight has pursued an international growth strategy with operational and development projects in Israel and Western Europe.