Analysts Set Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Target Price at $63.17

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

ENLT has been the topic of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. Wall Street Zen raised shares of Enlight Renewable Energy from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Deutsche Bank Aktiengesellschaft set a $65.00 price target on shares of Enlight Renewable Energy and gave the stock a “hold” rating in a research report on Thursday, April 9th. UBS Group upped their price target on shares of Enlight Renewable Energy from $105.00 to $123.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the company an “underweight” rating in a research note on Wednesday, May 6th.

Insider Buying and Selling

In other news, SVP Meron Carr sold 3,329 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $103.44, for a total value of $344,351.76. Following the sale, the senior vice president owned 42,465 shares of the company’s stock, valued at approximately $4,392,579.60. The trade was a 7.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Yair Seroussi sold 12,036 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $102.24, for a total value of $1,230,560.64. Following the completion of the sale, the insider owned 14,233 shares of the company’s stock, valued at approximately $1,455,181.92. This trade represents a 45.82% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 313,597 shares of company stock worth $29,830,515.

Hedge Funds Weigh In On Enlight Renewable Energy

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its holdings in Enlight Renewable Energy by 256.1% during the second quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock worth $28,000 after buying an additional 881 shares in the last quarter. Versant Capital Management Inc bought a new stake in shares of Enlight Renewable Energy during the 2nd quarter worth $34,000. State of Wyoming acquired a new position in shares of Enlight Renewable Energy in the 1st quarter worth $41,000. V Square Quantitative Management LLC acquired a new position in shares of Enlight Renewable Energy in the 4th quarter worth $56,000. Finally, Walleye Capital LLC acquired a new stake in shares of Enlight Renewable Energy during the first quarter worth $240,000. Institutional investors and hedge funds own 38.89% of the company’s stock.

Enlight Renewable Energy Stock Performance

Enlight Renewable Energy stock opened at $84.26 on Monday. Enlight Renewable Energy has a 52-week low of $22.95 and a 52-week high of $108.65. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $9.99 billion, a price-to-earnings ratio of 195.96, a PEG ratio of 30.53 and a beta of 1.66. The firm has a 50-day moving average price of $91.43 and a two-hundred day moving average price of $73.02.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly 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 for the quarter. Sell-side analysts expect that Enlight Renewable Energy will post 0.29 earnings per share for the current year.

About Enlight Renewable Energy

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.