Enlight Renewable Energy (NASDAQ:ENLT) Stock Rating Raised to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Enlight Renewable Energy (NASDAQ:ENLT) from a sell rating to a hold rating in a research report released on Saturday,Wall Street Zen reports.

A number of other analysts have also recently weighed in on ENLT. Zacks Research upgraded shares of Enlight Renewable Energy from a “hold” rating to a “strong-buy” rating in a research note 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 report on Tuesday, July 7th. Truist Financial dropped their price objective on shares of Enlight Renewable Energy from $106.00 to $104.00 and set a “buy” rating on the stock in a research note on Monday, September 28th. Barclays upped their target price on shares of Enlight Renewable Energy from $83.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, July 20th. Finally, Mizuho reduced their target price on shares of Enlight Renewable Energy from $45.00 to $41.00 and set an “underperform” rating for the company in a report on Tuesday, October 13th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $75.29.

Enlight Renewable Energy Price Performance

ENLT stock opened at $69.68 on Friday. 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 company has a market capitalization of $8.26 billion, a P/E ratio of 112.39, a PEG ratio of 23.19 and a beta of 1.70. The business has a 50 day simple moving average of $74.69 and a 200-day simple moving average of $82.63. Enlight Renewable Energy has a twelve month low of $32.75 and a twelve month high of $108.65.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its earnings results on Tuesday, June 30th. The company reported $0.20 EPS for the quarter. The business had revenue of $165.99 million for the quarter. Enlight Renewable Energy had a net margin of 12.35% and a return on equity of 3.52%. As a group, equities analysts anticipate that Enlight Renewable Energy will post 0.39 EPS for the current year.

Insider Activity

In related news, CFO Nir Yehuda sold 1,276 shares of the 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 directly owned 34,324 shares of the company’s stock, valued at $2,279,113.60. This trade represents a 3.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 on Thursday, October 1st. The stock was sold at an average price of $64.81, for a total value 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. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 10,526 shares of company stock valued at $755,406.

Hedge Funds Weigh In On Enlight Renewable Energy

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

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.