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

Enlight Renewable Energy (NASDAQ:ENLT) had its price objective lifted by JPMorgan Chase & Co. from $17.00 to $18.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Separately, Barclays lifted their price target on Enlight Renewable Energy from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, November 15th.

Enlight Renewable Energy Stock Down 1.5 %

Shares of NASDAQ ENLT opened at $16.22 on Thursday. The stock has a market cap of $1.87 billion, a PE ratio of 36.86 and a beta of 1.53. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.64. Enlight Renewable Energy has a 12-month low of $14.09 and a 12-month high of $18.48. The company has a 50-day moving average of $16.61 and a 200 day moving average of $16.19.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings results on Wednesday, November 13th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. Enlight Renewable Energy had a return on equity of 3.34% and a net margin of 13.58%. The business had revenue of $109.50 million during the quarter, compared to analyst estimates of $83.09 million. During the same period in the prior year, the business earned $0.13 earnings per share. The business’s revenue was up 87.8% compared to the same quarter last year. As a group, sell-side analysts predict that Enlight Renewable Energy will post 0.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its stake in shares of Enlight Renewable Energy by 1,181.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 14,263 shares of the company’s stock valued at $241,000 after purchasing an additional 13,150 shares during the last quarter. Susquehanna International Group Ltd. acquired a new position in Enlight Renewable Energy in the second quarter valued at about $253,000. Tidal Investments LLC boosted its stake in Enlight Renewable Energy by 11.3% during the third quarter. Tidal Investments LLC now owns 18,241 shares of the company’s stock worth $308,000 after buying an additional 1,852 shares during the period. Barclays PLC increased its position in shares of Enlight Renewable Energy by 4,278.2% during the third quarter. Barclays PLC now owns 25,525 shares of the company’s stock valued at $432,000 after acquiring an additional 24,942 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Enlight Renewable Energy in the 3rd quarter valued at approximately $655,000. 38.89% of the stock is currently owned by hedge funds and other institutional investors.

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.