Enlight Renewable Energy (NASDAQ:ENLT) Hits New 12-Month High – Here’s Why

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) hit a new 52-week high on Wednesday . The company traded as high as $75.73 and last traded at $75.27, with a volume of 325315 shares changing hands. The stock had previously closed at $64.86.

Analyst Ratings Changes

Several analysts recently weighed in on the company. UBS Group restated a “buy” rating on shares of Enlight Renewable Energy in a research note on Wednesday. Roth Mkm raised their price target on Enlight Renewable Energy from $30.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $38.00 target price on shares of Enlight Renewable Energy in a research note on Wednesday, January 7th. Barclays restated an “overweight” rating on shares of Enlight Renewable Energy in a research note on Wednesday. Finally, Mizuho increased their price objective on Enlight Renewable Energy from $24.00 to $27.00 and gave the company an “underperform” rating in a research report on Monday, November 17th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.83.

Enlight Renewable Energy Price Performance

The stock has a market capitalization of $8.70 billion, a P/E ratio of 78.41 and a beta of 1.42. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a fifty day moving average price of $51.71 and a two-hundred day moving average price of $38.98.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Altshuler Shaham Ltd increased its position in shares of Enlight Renewable Energy by 41.9% during the 4th quarter. Altshuler Shaham Ltd now owns 585,068 shares of the company’s stock valued at $26,557,000 after purchasing an additional 172,718 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Enlight Renewable Energy during the fourth quarter valued at approximately $283,000. Amundi raised its position in Enlight Renewable Energy by 185.8% in the fourth quarter. Amundi now owns 218,708 shares of the company’s stock worth $9,942,000 after acquiring an additional 142,173 shares during the period. Public Employees Retirement System of Ohio raised its position in Enlight Renewable Energy by 5.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 47,968 shares of the company’s stock worth $2,180,000 after acquiring an additional 2,275 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of Enlight Renewable Energy by 53.7% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 34,962 shares of the company’s stock worth $1,589,000 after acquiring an additional 12,217 shares during the last quarter. 38.89% of the stock is owned by hedge funds and other institutional investors.

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.