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

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) has been assigned an average recommendation of “Hold” from the seven brokerages that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $63.1667.

A number of equities analysts recently 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 stock an “underweight” rating in a report on Wednesday, May 6th. Barclays restated an “overweight” rating on shares of Enlight Renewable Energy in a report on Wednesday, February 18th. Mizuho set a $37.00 target price on shares of Enlight Renewable Energy in a report on Monday, February 23rd. UBS Group boosted their target price on shares of Enlight Renewable Energy from $105.00 to $123.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Finally, Wall Street Zen upgraded shares of Enlight Renewable Energy from a “sell” rating to a “hold” rating in a report on Saturday, June 6th.

Insider Transactions 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 on Wednesday, May 27th. The shares were sold at an average price of $103.76, for a total value of $2,762,298.72. Following the transaction, the insider directly owned 42,835 shares in the company, valued at $4,444,559.60. The trade was 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 at this hyperlink. Also, Chairman Gilad Yavetz sold 100,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $91.78, for a total transaction of $9,178,000.00. Following the completion of the sale, the chairman directly owned 846,436 shares of the company’s stock, valued at approximately $77,685,896.08. The trade was a 10.57% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 313,597 shares of company stock valued at $29,830,515.

Institutional Investors Weigh In On Enlight Renewable Energy

Several institutional investors and hedge funds have recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd lifted its position 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 worth $774,113,000 after purchasing an additional 1,797,936 shares during the period. Y.D. More Investments Ltd raised its stake in shares of Enlight Renewable Energy by 4.5% during the fourth quarter. Y.D. More Investments Ltd now owns 5,837,263 shares of the company’s stock valued at $264,965,000 after acquiring an additional 252,446 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Enlight Renewable Energy by 11.3% during the fourth quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company’s stock valued at $225,058,000 after acquiring an additional 503,060 shares during the last quarter. Altshuler Shaham Ltd raised its stake in shares of Enlight Renewable Energy by 705.5% during the first 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 during the last quarter. Finally, Legal & General Group Plc raised its stake in Enlight Renewable Energy by 2.8% during the third quarter. Legal & General Group Plc now owns 1,920,888 shares of the company’s stock worth $59,253,000 after buying an additional 53,103 shares during the last quarter. Institutional investors own 38.89% of the company’s stock.

Enlight Renewable Energy Price Performance

NASDAQ ENLT opened at $89.94 on Thursday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.68. Enlight Renewable Energy has a 12-month low of $18.22 and a 12-month high of $108.65. The company has a market capitalization of $10.66 billion, a PE ratio of 209.17, a price-to-earnings-growth ratio of 35.41 and a beta of 1.56. The firm’s 50 day moving average is $87.07 and its 200-day moving average is $67.19.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.16 earnings per share (EPS) for the quarter. The company had revenue of $156.49 million for the quarter. Enlight Renewable Energy had a net margin of 9.47% and a return on equity of 2.48%. Equities research analysts anticipate that Enlight Renewable Energy will post 0.29 earnings per share for the current fiscal year.

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.