Enlight Renewable Energy (NASDAQ:ENLT) Sets New 12-Month High – Time to Buy?

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $103.10 and last traded at $102.70, with a volume of 77055 shares trading hands. The stock had previously closed at $92.25.

Analyst Ratings Changes

A number of research analysts have recently commented on ENLT shares. Mizuho set a $37.00 target price on Enlight Renewable Energy in a research note on Monday, February 23rd. 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. JPMorgan Chase & Co. upped their price target on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a report on Wednesday, May 6th. Finally, Barclays restated an “overweight” rating on shares of Enlight Renewable Energy in a report on Wednesday, February 18th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $60.17.

Enlight Renewable Energy Stock Performance

The company has a market cap of $12.26 billion, a P/E ratio of 240.47, a PEG ratio of 33.42 and a beta of 1.51. The firm has a 50 day moving average of $80.59 and a 200-day moving average of $61.89. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.68.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.16 earnings per share (EPS) for the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%.The company had revenue of $156.49 million for the quarter. As a group, sell-side analysts anticipate that Enlight Renewable Energy Ltd. will post 0.29 EPS for the current fiscal year.

Insider Activity at Enlight Renewable Energy

In other Enlight Renewable Energy news, insider Marko Liposcak sold 6,402 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $92.53, for a total transaction of $592,377.06. Following the transaction, the insider directly owned 32,539 shares in the company, valued at $3,010,833.67. This represents a 16.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shai Yeshayahu Weil sold 73,436 shares of the stock in a transaction on Monday, May 25th. The shares were sold at an average price of $93.68, for a total value of $6,879,484.48. Following the sale, the director directly owned 396,655 shares in the company, valued at $37,158,640.40. This trade represents a 15.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 232,268 shares of company stock worth $21,463,520 over the last quarter.

Institutional Trading of Enlight Renewable Energy

A number of institutional investors have recently modified their holdings of the company. Bank of America Corp DE boosted its holdings in shares of Enlight Renewable Energy by 376.4% in the 1st quarter. Bank of America Corp DE now owns 476,289 shares of the company’s stock valued at $32,511,000 after buying an additional 376,309 shares in the last quarter. Altshuler Shaham Ltd boosted its holdings in shares of Enlight Renewable Energy by 705.5% in the 1st quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company’s stock valued at $311,645,000 after buying an additional 4,127,573 shares in the last quarter. Amundi boosted its holdings in shares of Enlight Renewable Energy by 13.8% in the 1st quarter. Amundi now owns 248,834 shares of the company’s stock valued at $16,985,000 after buying an additional 30,126 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Enlight Renewable Energy by 2.7% in the 1st quarter. Quantinno Capital Management LP now owns 6,506 shares of the company’s stock valued at $435,000 after buying an additional 170 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Enlight Renewable Energy in the 1st quarter valued at about $2,305,000. 38.89% of the stock is currently owned by 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.