JPMorgan Chase & Co. Raises Enlight Renewable Energy (NASDAQ:ENLT) Price Target to $18.00

Enlight Renewable Energy (NASDAQ:ENLT - Free Report) had its price objective raised by JPMorgan Chase & Co. from $17.00 to $18.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

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

Enlight Renewable Energy Trading Up 1.0 %

Shares of NASDAQ:ENLT traded up $0.17 during midday trading on Thursday, reaching $16.39. The company had a trading volume of 3,150 shares, compared to its average volume of 24,143. The company has a fifty day simple moving average of $16.60 and a two-hundred day simple moving average of $16.19. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 37.25 and a beta of 1.53. Enlight Renewable Energy has a 1-year low of $14.09 and a 1-year high of $18.48. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.53 and a current ratio of 0.53.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last announced its earnings results on Wednesday, November 13th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.03 by $0.09. Enlight Renewable Energy had a net margin of 13.58% and a return on equity of 3.34%. The company had revenue of $109.50 million during the quarter, compared to analysts' expectations of $83.09 million. During the same period last year, the company posted $0.13 earnings per share. The business's revenue for the quarter was up 87.8% on a year-over-year basis. Research analysts predict that Enlight Renewable Energy will post 0.07 earnings per share for the current year.

Institutional Trading of Enlight Renewable Energy

Institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in Enlight Renewable Energy by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 103,590 shares of the company's stock valued at $1,751,000 after buying an additional 907 shares during the period. Tidal Investments LLC increased its stake in shares of Enlight Renewable Energy by 11.3% in the third quarter. Tidal Investments LLC now owns 18,241 shares of the company's stock worth $308,000 after acquiring an additional 1,852 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Enlight Renewable Energy by 1,181.5% during the third quarter. Advisors Asset Management Inc. now owns 14,263 shares of the company's stock worth $241,000 after acquiring an additional 13,150 shares in the last quarter. Susquehanna International Group Ltd. purchased a new stake in shares of Enlight Renewable Energy during the second quarter worth $253,000. Finally, Barclays PLC boosted its position in 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 purchasing an additional 24,942 shares during the last quarter. 38.89% of the stock is currently owned by institutional investors and hedge funds.

About Enlight Renewable Energy

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.