Enlight Renewable Energy (NASDAQ:ENLT) Reaches New 52-Week Low – Here’s What Happened

Enlight Renewable Energy Ltd (NASDAQ:ENLT) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $14.01 and last traded at $15.20, with a volume of 121056 shares traded. The stock had previously closed at $15.02.

Analysts Set New Price Targets

Several analysts recently issued reports on ENLT shares. JPMorgan Chase & Co. upped their target price on Enlight Renewable Energy from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Wolfe Research downgraded Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Enlight Renewable Energy in a research report on Thursday, March 6th. They set a “buy” rating and a $22.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

Enlight Renewable Energy Trading Up 1.2 %

The business has a 50-day simple moving average of $16.53 and a two-hundred day simple moving average of $16.36. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 42.22 and a beta of 1.26. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.22 and a quick ratio of 0.53.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $289.04 million. Equities analysts forecast that Enlight Renewable Energy Ltd will post 0.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Enlight Renewable Energy

A number of large investors have recently added to or reduced their stakes in ENLT. Y.D. More Investments Ltd lifted its stake in Enlight Renewable Energy by 18.6% during the fourth quarter. Y.D. More Investments Ltd now owns 3,068,179 shares of the company’s stock worth $53,043,000 after purchasing an additional 482,129 shares during the last quarter. Phoenix Financial Ltd. lifted its stake in shares of Enlight Renewable Energy by 42.2% in 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. JPMorgan Chase & Co. bought a new position in shares of Enlight Renewable Energy in the 3rd quarter valued at $4,901,000. Meitav Investment House Ltd. lifted 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 acquiring an additional 229,255 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Enlight Renewable Energy in the 4th quarter valued at $3,631,000. Institutional investors and hedge funds own 38.89% of the company’s stock.

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.