Enlight Renewable Energy (NASDAQ:ENLT) Earns Underweight Rating from JPMorgan Chase & Co.

Enlight Renewable Energy (NASDAQ:ENLT)‘s stock had its “underweight” rating reissued by research analysts at JPMorgan Chase & Co. in a research note issued on Monday, Marketbeat reports. They presently have a $35.00 target price on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 11.55% from the company’s previous close.

Several other brokerages have also recently issued reports on ENLT. Wall Street Zen cut Enlight Renewable Energy from a “hold” rating to a “strong sell” rating in a research report on Sunday, August 10th. Barclays increased their price objective on shares of Enlight Renewable Energy from $34.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $30.00 target price on shares of Enlight Renewable Energy in a research report on Wednesday, October 1st. Roth Capital increased their price target on shares of Enlight Renewable Energy from $30.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Monday, December 1st. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $37.50.

Enlight Renewable Energy Trading Down 1.0%

NASDAQ:ENLT opened at $39.57 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.91. The company has a 50 day simple moving average of $35.98 and a two-hundred day simple moving average of $28.75. Enlight Renewable Energy has a 12 month low of $14.01 and a 12 month high of $42.38.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings results on Wednesday, November 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.09. Enlight Renewable Energy had a return on equity of 7.41% and a net margin of 22.60%.The firm had revenue of $165.06 million for the quarter, compared to the consensus estimate of $146.04 million. Sell-side analysts expect that Enlight Renewable Energy will post 0.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enlight Renewable Energy

A number of hedge funds have recently modified their holdings of ENLT. Y.D. More Investments Ltd raised its position in shares of Enlight Renewable Energy by 50.5% during the 3rd quarter. Y.D. More Investments Ltd now owns 5,584,817 shares of the company’s stock valued at $172,143,000 after purchasing an additional 1,875,084 shares during the period. Legal & General Group Plc increased its stake in Enlight Renewable Energy by 259.0% in the 2nd quarter. Legal & General Group Plc now owns 1,867,785 shares of the company’s stock worth $42,377,000 after buying an additional 1,347,458 shares in the last quarter. First Trust Advisors LP raised its holdings in Enlight Renewable Energy by 269.0% during the third quarter. First Trust Advisors LP now owns 260,192 shares of the company’s stock valued at $8,006,000 after acquiring an additional 189,676 shares during the period. Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Enlight Renewable Energy by 2.1% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,247,031 shares of the company’s stock valued at $253,986,000 after acquiring an additional 173,009 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Enlight Renewable Energy in the second quarter valued at about $3,608,000. 38.89% of the stock is currently owned by 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.