Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Stock Has Average Target Price of $74.86

Shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT) have been given an average recommendation of “Hold” by the nine analysts that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $74.86.

Several equities research analysts have recently commented on ENLT shares. Zacks Research upgraded shares of Enlight Renewable Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Barclays increased their target price on Enlight Renewable Energy from $83.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. Wall Street Zen lowered Enlight Renewable Energy from a “hold” rating to a “sell” rating in a research report on Sunday, October 25th. Mizuho cut their target price on Enlight Renewable Energy from $45.00 to $41.00 and set an “underperform” rating on the stock in a research note on Tuesday, October 13th. Finally, Weiss Ratings downgraded shares of Enlight Renewable Energy from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, September 18th.

Insiders Place Their Bets

In related news, CFO Nir Yehuda sold 1,276 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $66.40, for a total transaction of $84,726.40. Following the sale, the chief financial officer directly owned 34,324 shares of the company’s stock, valued at $2,279,113.60. This trade represents a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ilan Goren sold 2,700 shares of the firm’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 sale, the insider owned 40,135 shares in the company, valued at approximately $2,601,149.35. This represents a 6.30% decrease in their position. 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 quarter, insiders have sold 10,526 shares of company stock valued at $755,406.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Altshuler Shaham Ltd increased its stake in shares of Enlight Renewable Energy by 705.5% during the first quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company’s stock worth $311,645,000 after buying an additional 4,127,573 shares during the period. Clal Insurance Enterprises Holdings Ltd increased its position in Enlight Renewable Energy by 18.2% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 11,688,077 shares of the company’s stock valued at $774,113,000 after acquiring an additional 1,797,936 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Enlight Renewable Energy by 68.4% during the first 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 period. Bank of America Corp DE raised 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 in the last quarter. Finally, Navellier & Associates Inc. acquired a new stake in Enlight Renewable Energy in the second quarter valued at $3,475,000. 38.89% of the stock is currently owned by institutional investors and hedge funds.

Enlight Renewable Energy Price Performance

NASDAQ:ENLT opened at $64.61 on Friday. The company has a quick ratio of 1.12, a current ratio of 0.75 and a debt-to-equity ratio of 2.25. The business’s 50-day simple moving average is $70.95 and its two-hundred day simple moving average is $77.87. The stock has a market cap of $7.66 billion, a PE ratio of 116.64, a P/E/G ratio of 21.95 and a beta of 1.72. Enlight Renewable Energy has a 52 week low of $32.87 and a 52 week high of $108.65.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. Enlight Renewable Energy had a net margin of 12.25% and a return on equity of 3.59%. The firm had revenue of $186.71 million during the quarter, compared to the consensus estimate of $566.51 million. As a group, analysts forecast that Enlight Renewable Energy will post 0.40 EPS for the current fiscal year.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd. (NASDAQ: ENLT) is a renewable energy company that develops, finances, constructs, owns and operates clean energy projects. Its activities include utility-scale solar photovoltaic, wind power and energy storage projects.

The company manages projects across multiple stages of the renewable energy lifecycle, from development and permitting through construction and long-term operation. Its portfolio and development activities span Israel, the United States and selected European markets.

Founded in 1988, Enlight is headquartered in Israel and is also listed on the Tel Aviv Stock Exchange.