Enlight Renewable Energy (NASDAQ:ENLT) Posts Earnings Results, Beats Estimates By $0.04 EPS

Enlight Renewable Energy (NASDAQ:ENLT) released its quarterly earnings results on Monday. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.04, MarketWatch Earnings reports. Enlight Renewable Energy had a return on equity of 5.76% and a net margin of 25.17%. Enlight Renewable Energy updated its FY 2023 guidance to EPS.

Enlight Renewable Energy Price Performance

Shares of NASDAQ ENLT opened at $15.17 on Tuesday. The business has a fifty day moving average price of $14.48 and a two-hundred day moving average price of $16.76. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.50. Enlight Renewable Energy has a fifty-two week low of $12.11 and a fifty-two week high of $29.70.

Wall Street Analyst Weigh In

ENLT has been the topic of several recent research reports. Mizuho assumed coverage on Enlight Renewable Energy in a research report on Tuesday. They set a “neutral” rating and a $17.00 price objective on the stock. JPMorgan Chase & Co. lowered their price target on shares of Enlight Renewable Energy from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, October 19th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Institutional Trading of Enlight Renewable Energy

Several large investors have recently modified their holdings of the stock. Citigroup Inc. bought a new stake in Enlight Renewable Energy during the first quarter worth about $1,175,000. UBS Group AG acquired a new position in shares of Enlight Renewable Energy in the 1st quarter valued at approximately $1,799,000. Bank of America Corp DE bought a new stake in shares of Enlight Renewable Energy during the 1st quarter worth approximately $3,949,000. Deutsche Bank AG acquired a new stake in shares of Enlight Renewable Energy during the 1st quarter worth approximately $106,000. Finally, Cubist Systematic Strategies LLC bought a new position in Enlight Renewable Energy in the first quarter valued at approximately $32,000. 32.92% of the stock is owned by institutional investors and hedge funds.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd operates as a renewable energy platform in Israel and internationally. The company initiates, plans, develops, constructs, and operates projects to produce electricity from renewable energy sources. It develops wind energy and solar energy projects, as well as energy storage projects.