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

Enlight Renewable Energy (NASDAQ:ENLT) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

Several other equities research analysts have also issued reports 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. Barclays boosted their price target on shares of Enlight Renewable Energy from $83.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. Weiss Ratings downgraded shares of Enlight Renewable Energy from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, September 18th. Mizuho reduced their price objective on shares of Enlight Renewable Energy from $45.00 to $41.00 and set an “underperform” rating for the company in a research note on Tuesday, October 13th. Finally, UBS Group decreased their price objective on Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Enlight Renewable Energy currently has an average rating of “Hold” and a consensus target price of $75.29.

Enlight Renewable Energy Stock Performance

NASDAQ:ENLT opened at $69.68 on Friday. Enlight Renewable Energy has a twelve month low of $32.75 and a twelve 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 has a 50 day moving average price of $74.69 and a two-hundred day moving average price of $82.76. The company has a market cap of $8.26 billion, a P/E ratio of 112.39, a price-to-earnings-growth ratio of 23.19 and a beta of 1.70.

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

Insider Activity

In related news, insider Ilan Goren sold 2,700 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $64.81, for a total transaction of $174,987.00. Following the transaction, the insider directly owned 40,135 shares in the company, valued at approximately $2,601,149.35. The trade was a 6.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Nir Yehuda sold 1,276 shares of the business’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 transaction, the chief financial officer owned 34,324 shares in the company, valued at approximately $2,279,113.60. The trade was a 3.58% 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. In the last 90 days, insiders sold 10,526 shares of company stock valued at $755,406.

Institutional Trading of Enlight Renewable Energy

Large investors have recently added to or reduced their stakes in the company. Bleakley Financial Group LLC bought a new stake in shares of Enlight Renewable Energy in the 1st quarter valued at about $2,397,000. Navellier & Associates Inc. acquired a new stake in Enlight Renewable Energy in the 2nd quarter valued at about $3,475,000. Wealth High Governance Asset Management Ltda. bought a new position in Enlight Renewable Energy during the first quarter worth about $1,218,000. Clal Insurance Enterprises Holdings Ltd grew its holdings 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. Finally, Bank of America Corp DE grew its holdings in Enlight Renewable Energy by 376.4% during the first quarter. Bank of America Corp DE now owns 476,289 shares of the company’s stock worth $32,511,000 after purchasing an additional 376,309 shares during the period. Institutional investors and hedge funds own 38.89% of the company’s stock.

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.