Enlight Renewable Energy (NASDAQ:ENLT) Price Target Cut to $19.00

Enlight Renewable Energy (NASDAQ:ENLT) had its price objective cut by equities researchers at Roth Mkm from $22.00 to $19.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Roth Mkm’s price target indicates a potential upside of 20.25% from the stock’s previous close.

Several other equities research analysts also recently weighed in on ENLT. Mizuho assumed coverage on Enlight Renewable Energy in a report on Tuesday. They issued a “neutral” rating and a $17.00 price target for the company. JPMorgan Chase & Co. decreased their price target on shares of Enlight Renewable Energy from $22.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday, October 19th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Enlight Renewable Energy has a consensus rating of “Moderate Buy” and an average target price of $19.83.

Enlight Renewable Energy Price Performance

Enlight Renewable Energy stock traded up $0.63 during mid-day trading on Tuesday, reaching $15.80. 158,999 shares of the company were exchanged, compared to its average volume of 111,407. Enlight Renewable Energy has a 12-month low of $12.11 and a 12-month high of $29.70. The business has a fifty day moving average of $14.48 and a 200 day moving average 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 (NASDAQ:ENLT) last issued its quarterly earnings data on Monday, November 20th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. Enlight Renewable Energy had a return on equity of 5.76% and a net margin of 25.17%. The firm had revenue of $58.32 million during the quarter, compared to analysts’ expectations of $65.78 million. As a group, research analysts forecast that Enlight Renewable Energy will post 0.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ENLT. Cubist Systematic Strategies LLC purchased a new position in Enlight Renewable Energy during the first quarter valued at approximately $32,000. Legal & General Group Plc grew its stake in shares of Enlight Renewable Energy by 1,250.5% during the 3rd quarter. Legal & General Group Plc now owns 2,890 shares of the company’s stock worth $46,000 after purchasing an additional 2,676 shares during the period. Deutsche Bank AG purchased a new position in shares of Enlight Renewable Energy during the 1st quarter valued at approximately $106,000. Bank of New York Mellon Corp acquired a new position in shares of Enlight Renewable Energy in the 1st quarter valued at $10,742,000. Finally, Tower Research Capital LLC TRC purchased a new stake in Enlight Renewable Energy during the second quarter worth $130,000. Hedge funds and other institutional investors own 32.92% of the company’s stock.

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.