Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Receives $20.25 Consensus Price Target from Brokerages

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) has earned a consensus rating of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $20.40.

Separately, Mizuho set a $21.00 price objective on Enlight Renewable Energy and gave the stock an “underperform” rating in a report on Monday.

Enlight Renewable Energy Trading Up 1.8%

Shares of Enlight Renewable Energy stock opened at $25.33 on Monday. Enlight Renewable Energy has a 52 week low of $14.01 and a 52 week high of $26.27. The business’s fifty day simple moving average is $21.02 and its 200-day simple moving average is $18.04. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.95.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.24. The business had revenue of $129.87 million for the quarter, compared to the consensus estimate of $396.61 million. Enlight Renewable Energy had a return on equity of 8.17% and a net margin of 27.82%. Research analysts predict that Enlight Renewable Energy will post 0.41 earnings per share for the current year.

Hedge Funds Weigh In On Enlight Renewable Energy

Several institutional investors have recently bought and sold shares of the stock. Y.D. More Investments Ltd grew its position in Enlight Renewable Energy by 18.0% during the first quarter. Y.D. More Investments Ltd now owns 3,621,516 shares of the company’s stock worth $57,870,000 after buying an additional 553,337 shares in the last quarter. Phoenix Financial Ltd. raised its stake in shares of Enlight Renewable Energy by 42.2% in the fourth 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. Norges Bank bought a new position in Enlight Renewable Energy in the 4th quarter worth approximately $3,631,000. Canada Pension Plan Investment Board raised its position in Enlight Renewable Energy by 131.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 255,136 shares of the company’s stock worth $4,064,000 after purchasing an additional 144,980 shares during the last quarter. Finally, Nuveen LLC bought a new position in Enlight Renewable Energy in the 1st quarter worth approximately $1,597,000. 38.89% of the stock is currently owned by institutional investors.

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.