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

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

Other research analysts have also issued research reports about the company. UBS Group decreased their target price on Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. JPMorgan Chase & Co. lifted their price target on Enlight Renewable Energy from $57.00 to $68.00 and gave the company an “underweight” rating in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. Deutsche Bank Aktiengesellschaft set a $65.00 price objective on Enlight Renewable Energy and gave the stock a “hold” rating in a report on Thursday, April 9th. Finally, Truist Financial assumed coverage on Enlight Renewable Energy in a research report on Monday, July 13th. They set a “buy” rating and a $106.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Enlight Renewable Energy currently has a consensus rating of “Hold” and a consensus price target of $75.00.

Enlight Renewable Energy Price Performance

Shares of NASDAQ ENLT opened at $89.51 on Monday. Enlight Renewable Energy has a 1 year low of $22.95 and a 1 year high of $108.65. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.77 and a quick ratio of 0.77. The company’s 50-day moving average is $90.70 and its 200 day moving average is $76.69. The stock has a market capitalization of $10.61 billion, a P/E ratio of 208.17, a P/E/G ratio of 24.05 and a beta of 1.66.

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

Insider Buying and Selling at Enlight Renewable Energy

In other news, Chairman Gilad Yavetz sold 100,000 shares of Enlight Renewable Energy stock in a transaction that occurred on 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 transaction, the chairman directly owned 846,436 shares in the company, valued at approximately $77,685,896.08. This trade represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ilan Goren sold 26,622 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $103.76, for a total value of $2,762,298.72. Following the completion of the sale, the insider directly owned 42,835 shares in the company, valued at approximately $4,444,559.60. This represents a 38.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 313,597 shares of company stock valued at $29,830,515.

Institutional Investors Weigh In On Enlight Renewable Energy

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its holdings in shares of Enlight Renewable Energy by 256.1% during the second quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock valued at $28,000 after acquiring an additional 881 shares in the last quarter. Versant Capital Management Inc purchased a new position in shares of Enlight Renewable Energy in the 2nd quarter worth about $34,000. State of Wyoming bought a new position in Enlight Renewable Energy in the 1st quarter worth about $41,000. V Square Quantitative Management LLC bought a new position in Enlight Renewable Energy in the 4th quarter worth about $56,000. Finally, Walleye Capital LLC purchased a new stake in Enlight Renewable Energy during the 1st quarter valued at about $240,000. 38.89% of the stock is owned by institutional investors.

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.