Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Stock Has Consensus Price Target of $74.71

Shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT) have been given a consensus rating of “Hold” by the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $74.71.

A number of analysts have issued reports on ENLT shares. Weiss Ratings lowered Enlight Renewable Energy from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, September 18th. Truist Financial cut their price target on Enlight Renewable Energy from $106.00 to $104.00 and set a “buy” rating for the company in a report on Monday, September 28th. Zacks Research raised Enlight Renewable Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. UBS Group lowered their price objective 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. Finally, Wall Street Zen lowered shares of Enlight Renewable Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th.

Insider Activity at Enlight Renewable Energy

In other Enlight Renewable Energy news, insider Amit Paz sold 4,329 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $76.57, for a total value of $331,471.53. Following the completion of the sale, the insider directly owned 279,683 shares of the company’s stock, valued at $21,415,327.31. This represents a 1.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Nir Yehuda sold 1,276 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was 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 owned 34,324 shares in the company, valued at $2,279,113.60. This represents a 3.58% 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. Insiders sold a total of 10,526 shares of company stock worth $755,406 in the last ninety days.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Clal Insurance Enterprises Holdings Ltd increased its stake in Enlight Renewable Energy by 18.2% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 11,688,077 shares of the company’s stock valued at $774,113,000 after acquiring an additional 1,797,936 shares during the period. Altshuler Shaham Ltd raised its holdings in Enlight Renewable Energy by 705.5% in the 1st quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company’s stock valued at $311,645,000 after acquiring an additional 4,127,573 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Enlight Renewable Energy by 68.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 995,347 shares of the company’s stock worth $66,126,000 after acquiring an additional 404,304 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Enlight Renewable Energy by 121.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 505,792 shares of the company’s stock worth $33,527,000 after acquiring an additional 277,179 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of Enlight Renewable Energy by 376.4% in the 1st quarter. Bank of America Corp DE now owns 476,289 shares of the company’s stock worth $32,511,000 after acquiring an additional 376,309 shares during the period. Institutional investors and hedge funds own 38.89% of the company’s stock.

Enlight Renewable Energy Stock Performance

Shares of ENLT stock opened at $67.41 on Wednesday. The company has a market cap of $7.99 billion, a PE ratio of 108.73, a price-to-earnings-growth ratio of 22.44 and a beta of 1.70. Enlight Renewable Energy has a 12 month low of $32.75 and a 12 month high of $108.65. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.31. The business’s 50 day moving average is $76.23 and its two-hundred day moving average is $82.75.

Enlight Renewable Energy (NASDAQ:ENLT) last released its 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 firm had revenue of $165.99 million during the quarter. Equities analysts predict that Enlight Renewable Energy will post 0.39 EPS for the current year.

About Enlight Renewable Energy

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.