Enlight Renewable Energy (NASDAQ:ENLT) Upgraded by Wall Street Zen to Hold Rating

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

Several other equities research analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $65.00 price objective on shares of Enlight Renewable Energy and gave the stock a “hold” rating in a research report on Thursday, April 9th. UBS Group dropped 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 report on Tuesday, July 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. JPMorgan Chase & Co. upped their price target on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the company an “underweight” rating in a research report on Wednesday, May 6th. Finally, Truist Financial started coverage on Enlight Renewable Energy in a report on Monday, July 13th. They set a “buy” rating and a $106.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $75.00.

Enlight Renewable Energy Price Performance

Enlight Renewable Energy stock opened at $88.60 on Monday. The stock’s 50 day moving average is $90.73 and its 200 day moving average is $76.38. Enlight Renewable Energy has a one year low of $22.95 and a one year high of $108.65. The firm has a market cap of $10.51 billion, a P/E ratio of 206.05, a P/E/G ratio of 24.65 and a beta of 1.66. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.77 and a quick ratio of 0.77.

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

Insider Activity at Enlight Renewable Energy

In related news, VP Israeli Ayelet Cohen sold 10,123 shares of the stock in a transaction on 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 transaction, the vice president directly owned 20,974 shares of the company’s stock, valued at $2,275,679. This represents a 32.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Meron Carr sold 3,329 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $103.44, for a total transaction of $344,351.76. Following the transaction, the senior vice president directly owned 42,465 shares in the company, valued at approximately $4,392,579.60. This represents a 7.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 313,597 shares of company stock worth $29,830,515.

Hedge Funds Weigh In On Enlight Renewable Energy

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

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.