JPMorgan Chase & Co. Issues Positive Forecast for Enlight Renewable Energy (NASDAQ:ENLT) Stock Price

Enlight Renewable Energy (NASDAQ:ENLT) had its target price increased by JPMorgan Chase & Co. from $45.00 to $57.00 in a research note published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. Mizuho set a $37.00 target price on Enlight Renewable Energy in a research note on Monday, February 23rd. UBS Group raised their target price on Enlight Renewable Energy to $65.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Deutsche Bank Aktiengesellschaft set a $65.00 target price on Enlight Renewable Energy and gave the company a “hold” rating in a research note on Thursday, April 9th. Barclays reiterated an “overweight” rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $51.67.

Enlight Renewable Energy Stock Performance

Shares of ENLT opened at $79.80 on Thursday. The business’s fifty day moving average price is $71.09 and its 200 day moving average price is $51.98. Enlight Renewable Energy has a 12-month low of $15.00 and a 12-month high of $83.28. The stock has a market capitalization of $9.46 billion, a PE ratio of 78.24, a price-to-earnings-growth ratio of 11.07 and a beta of 1.21. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.67 and a quick ratio of 0.67.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its quarterly earnings data on Saturday, February 14th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.17. Enlight Renewable Energy had a return on equity of 7.35% and a net margin of 22.69%.The firm had revenue of $124.19 million for the quarter, compared to analysts’ expectations of $146.12 million. Equities research analysts forecast that Enlight Renewable Energy will post 0.41 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ENLT. Amundi increased its holdings in shares of Enlight Renewable Energy by 2.3% during 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 during the period. Geode Capital Management LLC increased its holdings 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 valued at $2,458,000 after purchasing an additional 773 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Enlight Renewable Energy during the second quarter valued at $815,000. First Trust Advisors LP increased its holdings in shares of Enlight Renewable Energy by 9.6% during the second quarter. First Trust Advisors LP now owns 70,516 shares of the company’s stock valued at $1,600,000 after purchasing an additional 6,201 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Enlight Renewable Energy by 9.7% during the second quarter. Canada Pension Plan Investment Board now owns 279,789 shares of the company’s stock valued at $6,348,000 after purchasing an additional 24,653 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.