Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Given Consensus Rating of “Hold” by Brokerages

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) has been assigned a consensus rating of “Hold” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $75.00.

A number of research analysts recently issued reports on ENLT shares. 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. Weiss Ratings raised shares of Enlight Renewable Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 4th. JPMorgan Chase & Co. boosted their price objective on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 6th. Truist Financial assumed coverage on shares of Enlight Renewable Energy in a research note on Monday, July 13th. They issued a “buy” rating and a $106.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Enlight Renewable Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th.

Enlight Renewable Energy Stock Down 2.2%

Enlight Renewable Energy stock opened at $83.54 on Tuesday. The company has a 50 day moving average of $87.11 and a 200-day moving average of $81.21. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.31. Enlight Renewable Energy has a twelve month low of $26.03 and a twelve month high of $108.65. The stock has a market capitalization of $9.91 billion, a PE ratio of 134.74, a price-to-earnings-growth ratio of 66.80 and a beta of 1.68.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $0.20 EPS for the quarter. The business had revenue of $165.99 million for the quarter. Enlight Renewable Energy had a net margin of 12.35% and a return on equity of 3.52%. On average, equities research analysts anticipate that Enlight Renewable Energy will post 0.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Enlight Renewable Energy news, Director Shai Yeshayahu Weil sold 73,436 shares of the company’s stock in a transaction on Monday, May 25th. The shares were sold at an average price of $93.68, for a total transaction of $6,879,484.48. Following the sale, the director directly owned 396,655 shares of the company’s stock, valued at approximately $37,158,640.40. This represents a 15.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 transaction, the insider directly owned 42,835 shares in the company, valued at approximately $4,444,559.60. This trade represents a 38.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 169,137 shares of company stock valued at $16,587,962 in the last ninety days.

Institutional Investors Weigh In On Enlight Renewable Energy

A number of large investors have recently added to or reduced their stakes in ENLT. Bleakley Financial Group LLC acquired a new stake in shares of Enlight Renewable Energy during the 1st quarter worth approximately $2,397,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Enlight Renewable Energy by 26.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 57,621 shares of the company’s stock worth $2,618,000 after acquiring an additional 11,994 shares during the period. Clal Insurance Enterprises Holdings Ltd boosted its position in Enlight Renewable Energy by 19.9% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 9,890,141 shares of the company’s stock valued at $448,589,000 after acquiring an additional 1,643,110 shares during the last quarter. Altshuler Shaham Ltd grew its position in shares of Enlight Renewable Energy by 41.9% during the 4th quarter. Altshuler Shaham Ltd now owns 585,068 shares of the company’s stock worth $26,557,000 after buying an additional 172,718 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in Enlight Renewable Energy by 68.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 995,347 shares of the company’s stock valued at $66,126,000 after buying an additional 404,304 shares in the last quarter. 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.