Enlight Renewable Energy (NASDAQ:ENLT) Price Target Raised to $105.00

Enlight Renewable Energy (NASDAQ:ENLT) had its price objective raised by UBS Group from $93.00 to $105.00 in a report released on Wednesday,Benzinga reports. UBS Group currently has a buy rating on the stock.

A number of other research firms also recently weighed in on ENLT. JPMorgan Chase & Co. upped their price target on Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a research report on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. Barclays reaffirmed an “overweight” rating on shares of Enlight Renewable Energy in a research report on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft set a $65.00 target price on shares of Enlight Renewable Energy and gave the company a “hold” rating in a research report on Thursday, April 9th. Finally, Mizuho set a $37.00 target price on shares of Enlight Renewable Energy in a research report on Monday, February 23rd. Three equities research 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $60.17.

Enlight Renewable Energy Trading Up 6.4%

Shares of NASDAQ:ENLT opened at $90.51 on Wednesday. Enlight Renewable Energy has a 12 month low of $16.87 and a 12 month high of $93.85. The company has a quick ratio of 0.67, a current ratio of 0.77 and a debt-to-equity ratio of 1.68. The company’s fifty day simple moving average is $76.36 and its 200 day simple moving average is $57.22. The firm has a market cap of $10.73 billion, a price-to-earnings ratio of 210.49, a PEG ratio of 21.36 and a beta of 1.51.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share for the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%.The firm had revenue of $156.49 million during the quarter. As a group, research analysts forecast that Enlight Renewable Energy will post 0.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ENLT. Amundi grew its position in Enlight Renewable Energy by 2.3% in the first quarter. Amundi now owns 74,681 shares of the company’s stock valued at $1,160,000 after purchasing an additional 1,647 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Enlight Renewable Energy by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 108,157 shares of the company’s stock valued at $2,458,000 after acquiring an additional 773 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Enlight Renewable Energy in the 2nd quarter valued at about $815,000. First Trust Advisors LP grew its position in shares of Enlight Renewable Energy by 9.6% in the 2nd quarter. First Trust Advisors LP now owns 70,516 shares of the company’s stock valued at $1,600,000 after acquiring an additional 6,201 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in shares of Enlight Renewable Energy by 9.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 279,789 shares of the company’s stock valued at $6,348,000 after acquiring an additional 24,653 shares during the period. Institutional investors own 38.89% of the company’s stock.

Enlight Renewable Energy Company Profile

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.