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

Enlight Renewable Energy (NASDAQ:ENLT) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. upped their price target on Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 6th. Mizuho set a $37.00 price target on Enlight Renewable Energy in a research report on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. Barclays reaffirmed an “overweight” rating on shares of Enlight Renewable Energy in a research report on Wednesday, February 18th. Finally, UBS Group upped their price target on Enlight Renewable Energy from $105.00 to $123.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $63.17.

Enlight Renewable Energy Price Performance

Shares of ENLT opened at $90.98 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a 50 day simple moving average of $85.46 and a 200 day simple moving average of $65.77. Enlight Renewable Energy has a 52-week low of $18.22 and a 52-week high of $108.65. The firm has a market capitalization of $10.79 billion, a PE ratio of 211.59, a P/E/G ratio of 34.42 and a beta of 1.56.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.16 earnings per share (EPS) for the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%.The business had revenue of $156.49 million during the quarter. Sell-side analysts predict that Enlight Renewable Energy will post 0.29 EPS for the current fiscal year.

Insider Activity

In other Enlight Renewable Energy news, Chairman Gilad Yavetz sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was 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 owned 846,436 shares of the company’s stock, valued at $77,685,896.08. This represents a 10.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Israeli Ayelet Cohen sold 10,123 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $108.50, for a total value of $1,098,345.50. Following the transaction, the vice president directly owned 20,974 shares of the company’s stock, valued at approximately $2,275,679. This trade represents a 32.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 313,597 shares of company stock worth $29,830,515.

Institutional Investors Weigh In On Enlight Renewable Energy

Several large investors have recently made changes to their positions in ENLT. Altshuler Shaham Ltd boosted its holdings in shares of Enlight Renewable Energy by 705.5% in the 1st quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company’s stock valued at $311,645,000 after buying an additional 4,127,573 shares during the last quarter. Y.D. More Investments Ltd boosted its holdings in shares of Enlight Renewable Energy by 50.5% in the 3rd quarter. Y.D. More Investments Ltd now owns 5,584,817 shares of the company’s stock valued at $172,143,000 after buying an additional 1,875,084 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of 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 buying an additional 1,797,936 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Enlight Renewable Energy by 11.3% in the 4th quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company’s stock valued at $225,058,000 after buying an additional 503,060 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of 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 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. (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.