JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Enlight Renewable Energy (NASDAQ:ENLT) Stock

Enlight Renewable Energy (NASDAQ:ENLT) had its target price upped by JPMorgan Chase & Co. from $17.00 to $18.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 8.50% from the company’s previous close.

Separately, Barclays boosted their price target on shares of 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 Price Performance

Shares of Enlight Renewable Energy stock traded up $0.13 during trading on Thursday, hitting $16.59. 3,854 shares of the company’s stock traded hands, compared to its average volume of 20,632. Enlight Renewable Energy has a twelve month low of $14.09 and a twelve month high of $18.48. The company has a market cap of $1.92 billion, a PE ratio of 37.71 and a beta of 1.53. The firm’s fifty day moving average price is $16.61 and its 200 day moving average price is $16.19. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.53 and a quick ratio of 0.53.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings data on Wednesday, November 13th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.09. The company had revenue of $109.50 million during the quarter, compared to analyst estimates of $83.09 million. Enlight Renewable Energy had a net margin of 13.58% and a return on equity of 3.34%. The company’s revenue was up 87.8% on a year-over-year basis. During the same quarter last year, the business posted $0.13 earnings per share. Analysts forecast that Enlight Renewable Energy will post 0.07 earnings per share for the current year.

Hedge Funds Weigh In On Enlight Renewable Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. bought a new position in shares of Enlight Renewable Energy in the 3rd quarter valued at about $4,901,000. Tidal Investments LLC grew its holdings 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 purchasing an additional 1,852 shares during the period. Barclays PLC increased 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 worth $432,000 after buying an additional 24,942 shares during the last quarter. Geode Capital Management LLC raised its stake in Enlight Renewable Energy by 0.9% in the third 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. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Enlight Renewable Energy during the 3rd quarter worth approximately $655,000. 38.89% of the stock is 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.