Enlight Renewable Energy (NASDAQ:ENLT) Shares Up 5.4% – Still a Buy?

Enlight Renewable Energy Ltd (NASDAQ:ENLT)’s stock price rose 5.4% during mid-day trading on Monday . The company traded as high as $17.45 and last traded at $17.51. Approximately 14,303 shares changed hands during mid-day trading, a decline of 7% from the average daily volume of 15,344 shares. The stock had previously closed at $16.61.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Enlight Renewable Energy from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Enlight Renewable Energy in a research note on Thursday, March 6th. They set a “buy” rating and a $22.00 target price on the stock. Barclays lifted their price target on Enlight Renewable Energy from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Wolfe Research lowered Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Enlight Renewable Energy presently has an average rating of “Moderate Buy” and a consensus target price of $20.25.

Enlight Renewable Energy Stock Performance

The firm has a 50 day moving average of $16.84 and a two-hundred day moving average of $16.37. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.22 and a quick ratio of 0.53. The stock has a market cap of $1.93 billion, a PE ratio of 46.36 and a beta of 1.38.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.17. Enlight Renewable Energy had a return on equity of 3.03% and a net margin of 11.09%. The company had revenue of $114.21 million for the quarter, compared to analyst estimates of $289.04 million. Research analysts predict that Enlight Renewable Energy Ltd will post 0.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Enlight Renewable Energy

Several hedge funds have recently modified their holdings of the stock. Y.D. More Investments Ltd boosted its stake in shares of Enlight Renewable Energy by 18.6% during the 4th quarter. Y.D. More Investments Ltd now owns 3,068,179 shares of the company’s stock valued at $53,043,000 after buying an additional 482,129 shares during the last quarter. Phoenix Financial Ltd. boosted its stake in Enlight Renewable Energy by 42.2% during the 4th quarter. Phoenix Financial Ltd. now owns 1,254,495 shares of the company’s stock valued at $21,634,000 after acquiring an additional 372,403 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd grew its holdings in Enlight Renewable Energy by 4.2% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,771,161 shares of the company’s stock worth $147,885,000 after acquiring an additional 353,750 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Enlight Renewable Energy in the 3rd quarter worth about $4,901,000. Finally, Meitav Investment House Ltd. raised its stake in shares of Enlight Renewable Energy by 4.0% in the 4th quarter. Meitav Investment House Ltd. now owns 5,901,179 shares of the company’s stock valued at $101,910,000 after purchasing an additional 229,255 shares in the last quarter. 38.89% of the stock is currently owned by hedge funds and other 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.