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

Shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT) have received a consensus rating of “Hold” from the eight ratings firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $75.00.

ENLT has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. Barclays boosted their target price on Enlight Renewable Energy from $83.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday. Truist Financial started coverage on Enlight Renewable Energy in a research note on Monday, July 13th. They set a “buy” rating and a $106.00 price target for the company. UBS Group lowered their price objective on Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Finally, Wall Street Zen upgraded Enlight Renewable Energy from a “sell” rating to a “hold” rating in a research report on Monday.

Enlight Renewable Energy Price Performance

Shares of NASDAQ:ENLT opened at $90.20 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.68. Enlight Renewable Energy has a twelve month low of $22.95 and a twelve month high of $108.65. The stock’s 50 day moving average is $90.65 and its 200-day moving average is $77.31. The firm has a market capitalization of $10.70 billion, a price-to-earnings ratio of 209.77, a PEG ratio of 24.87 and a beta of 1.66.

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

Insider Activity

In other news, SVP Meron Carr sold 3,329 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $103.44, for a total transaction of $344,351.76. Following the sale, the senior vice president owned 42,465 shares in the company, valued at approximately $4,392,579.60. This trade represents a 7.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Vice Chairman Yair Seroussi sold 12,036 shares of Enlight Renewable Energy stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $102.24, for a total transaction of $1,230,560.64. Following the sale, the insider directly owned 14,233 shares of the company’s stock, valued at $1,455,181.92. This represents a 45.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 313,597 shares of company stock worth $29,830,515.

Institutional Trading of Enlight Renewable Energy

Several hedge funds and other institutional investors have recently bought and sold shares of ENLT. Amundi raised its stake in shares of Enlight Renewable Energy by 2.3% during the first quarter. Amundi now owns 74,681 shares of the company’s stock worth $1,160,000 after acquiring an additional 1,647 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Enlight Renewable Energy by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 108,157 shares of the company’s stock worth $2,458,000 after acquiring an additional 773 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Enlight Renewable Energy in the 2nd quarter valued at $815,000. First Trust Advisors LP boosted its stake in shares of Enlight Renewable Energy by 9.6% in the 2nd quarter. First Trust Advisors LP now owns 70,516 shares of the company’s stock valued at $1,600,000 after purchasing an additional 6,201 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Enlight Renewable Energy by 9.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 279,789 shares of the company’s stock valued at $6,348,000 after purchasing an additional 24,653 shares during the last quarter. Hedge funds and other institutional investors 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.