Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Up – What’s Next?

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) gapped up before the market opened on Monday . The stock had previously closed at $67.24, but opened at $71.68. Enlight Renewable Energy shares last traded at $73.37, with a volume of 50,236 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ENLT. UBS Group upped their target price on Enlight Renewable Energy to $65.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. Mizuho set a $37.00 price target on shares of Enlight Renewable Energy in a research report on Monday, February 23rd. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $35.00 target price on shares of Enlight Renewable Energy in a research note on Monday, December 8th. Barclays reaffirmed an “overweight” rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $43.50.

Enlight Renewable Energy Price Performance

The firm has a 50-day moving average of $56.52 and a 200 day moving average of $41.57. The company has a market capitalization of $8.48 billion, a PE ratio of 71.95, a PEG ratio of 9.05 and a beta of 1.42. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.67 and a quick ratio of 0.88.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its earnings results on Tuesday, February 17th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.17. The business had revenue of $124.19 million during the quarter, compared to the consensus estimate of $146.12 million. Enlight Renewable Energy had a net margin of 22.69% and a return on equity of 7.35%. As a group, research analysts anticipate that Enlight Renewable Energy Ltd. will post 0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enlight Renewable Energy

A number of large investors have recently made changes to their positions in ENLT. BNP Paribas Financial Markets raised its stake in shares of Enlight Renewable Energy by 256.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock valued at $28,000 after buying an additional 881 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Enlight Renewable Energy during the 4th quarter worth about $56,000. Savant Capital LLC purchased a new stake in Enlight Renewable Energy during the fourth quarter worth approximately $241,000. Bank of Montreal Can boosted its holdings in Enlight Renewable Energy by 6.4% in the second quarter. Bank of Montreal Can now owns 11,021 shares of the company’s stock valued at $251,000 after purchasing an additional 660 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in Enlight Renewable Energy by 6.0% in the second quarter. Jane Street Group LLC now owns 11,366 shares of the company’s stock valued at $258,000 after purchasing an additional 641 shares during the last quarter. 38.89% of the stock is owned by hedge funds and other institutional investors.

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.