Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Given Consensus Recommendation of “Hold” by Analysts

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) has been assigned an average rating of “Hold” from the eight research firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $75.00.

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the company an “underweight” rating in a research note on Wednesday, May 6th. UBS Group lowered their price target on shares of Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Weiss Ratings upgraded Enlight Renewable Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 4th. Barclays increased their price objective on Enlight Renewable Energy from $83.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, July 20th. Finally, Wall Street Zen lowered Enlight Renewable Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th.

Insider Activity at Enlight Renewable Energy

In other Enlight Renewable Energy news, insider Ilan Goren sold 26,622 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $103.76, for a total transaction of $2,762,298.72. Following the sale, the insider directly owned 42,835 shares of the company’s stock, valued at $4,444,559.60. This represents a 38.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Lisa Haimovitz sold 5,436 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $99.30, for a total transaction of $539,794.80. Following the transaction, the vice president owned 13,026 shares of the company’s stock, valued at $1,293,481.80. This represents a 29.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 169,137 shares of company stock worth $16,587,962 in the last three months.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its stake in shares of Enlight Renewable Energy by 256.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock valued at $28,000 after purchasing an additional 881 shares during the period. Versant Capital Management Inc purchased a new stake in shares of Enlight Renewable Energy in the second quarter worth about $34,000. State of Wyoming purchased a new position in Enlight Renewable Energy during the first quarter valued at approximately $41,000. Walleye Capital LLC bought a new position in shares of Enlight Renewable Energy in the first quarter worth $240,000. Finally, Savant Capital LLC purchased a new stake in shares of Enlight Renewable Energy in the fourth quarter worth $241,000. 38.89% of the stock is currently owned by hedge funds and other institutional investors.

Enlight Renewable Energy Stock Performance

Shares of ENLT opened at $83.54 on Tuesday. The company has a market capitalization of $9.91 billion, a price-to-earnings ratio of 134.74, a PEG ratio of 66.80 and a beta of 1.68. Enlight Renewable Energy has a 12 month low of $26.03 and a 12 month high of $108.65. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.31. The stock has a 50 day moving average of $87.11 and a 200 day moving average of $81.21.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.20 earnings per share for the quarter. Enlight Renewable Energy had a net margin of 12.35% and a return on equity of 3.52%. The company had revenue of $165.99 million during the quarter. As a group, sell-side analysts forecast that Enlight Renewable Energy will post 0.35 earnings per share for the current year.

About Enlight Renewable Energy

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) is an independent power producer specializing in the development, financing, construction and operation of renewable energy assets. The company’s portfolio encompasses utility-scale solar photovoltaic (PV) farms, onshore wind farms and energy storage facilities. By providing end-to-end project management—from site identification and feasibility studies through engineering procurement and construction (EPC) to long-term operations and maintenance—Enlight seeks to deliver reliable clean power under long-term power purchase agreements (PPAs).

Founded in 2008 and headquartered in Tel Aviv, Enlight has pursued an international growth strategy with operational and development projects in Israel and Western Europe.