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

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) has received a consensus rating of “Hold” from the eight ratings firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $75.00.

ENLT has been the subject of several recent research reports. Barclays boosted their price objective on Enlight Renewable Energy from $83.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. UBS Group decreased their target price on shares of Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Wall Street Zen upgraded shares of Enlight Renewable Energy from a “sell” rating to a “hold” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft set a $65.00 price target on shares of Enlight Renewable Energy and gave the company a “hold” rating in a research report on Thursday, April 9th.

Enlight Renewable Energy Stock Down 1.5%

ENLT opened at $90.20 on Friday. Enlight Renewable Energy has a 12 month low of $22.95 and a 12 month high of $108.65. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.68. The business’s 50-day moving average price is $90.65 and its 200-day moving average price is $77.31. The company has a market cap of $10.70 billion, a P/E ratio of 209.77, a P/E/G ratio of 24.87 and a beta of 1.66.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share for the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%.The company had revenue of $156.49 million during the quarter. On average, equities analysts expect that Enlight Renewable Energy will post 0.28 EPS for the current year.

Insider Activity

In other news, VP Israeli Ayelet Cohen sold 10,123 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $108.50, for a total transaction of $1,098,345.50. Following the completion of the sale, the vice president directly owned 20,974 shares in the company, valued at approximately $2,275,679. This represents a 32.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ilan Goren sold 26,622 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $103.76, for a total transaction of $2,762,298.72. Following the sale, the insider owned 42,835 shares of the company’s stock, valued at approximately $4,444,559.60. This represents a 38.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 313,597 shares of company stock valued at $29,830,515.

Institutional Investors Weigh In On Enlight Renewable Energy

A number of large investors have recently made changes to their positions in ENLT. Amundi increased its stake in shares of Enlight Renewable Energy by 2.3% during the first quarter. Amundi now owns 74,681 shares of the company’s stock valued at $1,160,000 after buying an additional 1,647 shares during the period. Geode Capital Management LLC lifted its stake in Enlight Renewable Energy by 0.7% in the second quarter. Geode Capital Management LLC now owns 108,157 shares of the company’s stock worth $2,458,000 after acquiring an additional 773 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Enlight Renewable Energy in the second quarter worth $815,000. First Trust Advisors LP lifted its stake in Enlight Renewable Energy by 9.6% in the second quarter. First Trust Advisors LP now owns 70,516 shares of the company’s stock worth $1,600,000 after acquiring an additional 6,201 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in Enlight Renewable Energy by 9.7% in the second quarter. Canada Pension Plan Investment Board now owns 279,789 shares of the company’s stock valued at $6,348,000 after acquiring an additional 24,653 shares in the last quarter. 38.89% of the stock is currently owned by institutional investors.

Enlight Renewable Energy Company Profile

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.