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

Shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT) have earned a consensus recommendation of “Hold” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $75.00.

Several equities research analysts have commented on the stock. Weiss Ratings raised shares of Enlight Renewable Energy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, September 3rd. Wall Street Zen downgraded Enlight Renewable Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Barclays upped their target price on Enlight Renewable Energy from $83.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. 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 target for the company. Finally, UBS Group decreased their price target on Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th.

Enlight Renewable Energy Stock Performance

Shares of ENLT stock opened at $74.22 on Friday. The company’s fifty day simple moving average is $83.05 and its 200-day simple moving average is $83.09. 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 firm has a market cap of $8.80 billion, a PE ratio of 119.71, a P/E/G ratio of 57.83 and a beta of 1.65. Enlight Renewable Energy has a 12 month low of $28.03 and a 12 month high of $108.65.

Enlight Renewable Energy (NASDAQ:ENLT) last released its earnings results on Tuesday, June 30th. The company reported $0.20 earnings per share for the quarter. Enlight Renewable Energy had a net margin of 12.35% and a return on equity of 3.52%. The business had revenue of $165.99 million during the quarter. Equities research analysts expect that Enlight Renewable Energy will post 0.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Enlight Renewable Energy

Large investors have recently made changes to their positions in the stock. Bleakley Financial Group LLC bought a new stake in Enlight Renewable Energy during the first quarter worth $2,397,000. Clal Insurance Enterprises Holdings Ltd grew its position in shares of Enlight Renewable Energy by 19.9% in the 4th 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 period. Wealth High Governance Asset Management Ltda. bought a new position in shares of Enlight Renewable Energy in the 1st quarter valued at about $1,218,000. Altshuler Shaham Ltd increased its stake 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 purchasing an additional 172,718 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Enlight Renewable Energy by 68.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 995,347 shares of the company’s stock worth $66,126,000 after purchasing an additional 404,304 shares during the last quarter. 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 activities focus primarily on solar photovoltaic, wind energy and energy storage systems, with projects designed to generate electricity and support the reliability and flexibility of power grids.

The company manages projects across multiple stages of the renewable energy value chain, including site development, permitting, power purchase arrangements, construction and long-term operation.