Enlight Renewable Energy (NASDAQ:ENLT) Stock Gets Price Target Cut from Mizuho

Enlight Renewable Energy (NASDAQ:ENLT) had its price objective decreased by Mizuho from $45.00 to $41.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Mizuho’s price objective would indicate a potential downside of 40.32% from the company’s previous close.

Other equities analysts have also issued reports about the company. Barclays increased their price objective on Enlight Renewable Energy from $83.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. Zacks Research upgraded Enlight Renewable Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Truist Financial reduced their price target on shares of Enlight Renewable Energy from $106.00 to $104.00 and set a “buy” rating for the company in a research note on Monday, September 28th. Wall Street Zen cut shares of Enlight Renewable Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Weiss Ratings lowered shares of Enlight Renewable Energy from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $75.29.

Enlight Renewable Energy Price Performance

NASDAQ ENLT opened at $68.70 on Tuesday. The company has a 50-day moving average price of $75.95 and a two-hundred day moving average price of $82.72. Enlight Renewable Energy has a 52 week low of $32.75 and a 52 week high of $108.65. The stock has a market cap of $8.15 billion, a price-to-earnings ratio of 110.81, a price-to-earnings-growth ratio of 22.44 and a beta of 1.70. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.31.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings results on Tuesday, June 30th. The company reported $0.20 earnings per share for the quarter. The company had revenue of $165.99 million for the quarter. Enlight Renewable Energy had a return on equity of 3.52% and a net margin of 12.35%. Analysts forecast that Enlight Renewable Energy will post 0.39 EPS for the current year.

Insider Transactions at Enlight Renewable Energy

In related news, CFO Nir Yehuda sold 1,276 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $66.40, for a total transaction of $84,726.40. Following the completion of the sale, the chief financial officer directly owned 34,324 shares of the company’s stock, valued at $2,279,113.60. This represents a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ilan Goren sold 2,700 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $64.81, for a total transaction of $174,987.00. Following the sale, the insider directly owned 40,135 shares of the company’s stock, valued at approximately $2,601,149.35. This represents a 6.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 10,526 shares of company stock valued at $755,406.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new position in shares of Enlight Renewable Energy in the third quarter valued at $59,000. Versant Capital Management Inc lifted its position in shares of Enlight Renewable Energy by 105.9% during the 3rd quarter. Versant Capital Management Inc now owns 801 shares of the company’s stock valued at $55,000 after acquiring an additional 412 shares during the last quarter. Tidal Investments LLC lifted its position in shares of Enlight Renewable Energy by 9.8% during the 2nd quarter. Tidal Investments LLC now owns 27,273 shares of the company’s stock valued at $2,428,000 after acquiring an additional 2,427 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of Enlight Renewable Energy during the 2nd quarter worth $26,000. Finally, Navellier & Associates Inc. bought a new stake in shares of Enlight Renewable Energy during the 2nd quarter worth $3,475,000. Institutional investors and hedge funds own 38.89% of the company’s stock.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd. is a renewable energy company that develops, finances, constructs, owns and operates utility-scale clean energy projects. Its portfolio includes solar photovoltaic, wind energy and energy storage facilities, with activities spanning project development through long-term asset ownership and operations.

The company serves electricity markets in Israel, the United States and several European countries. Its business is focused on expanding renewable generation and storage capacity, often through projects that combine intermittent renewable resources with storage technology to support grid reliability and power delivery.

Enlight was established in Israel and has developed into an international renewable energy platform.