Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Receives Average Recommendation of “Hold” from Analysts

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) has earned an average recommendation of “Hold” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $63.1667.

Several equities analysts have recently weighed in on ENLT shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. Deutsche Bank Aktiengesellschaft set a $65.00 price target on shares of Enlight Renewable Energy and gave the stock a “hold” rating in a research note on Thursday, April 9th. JPMorgan Chase & Co. raised their price target on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 6th. Wall Street Zen raised shares of Enlight Renewable Energy from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, UBS Group raised their price target on shares of Enlight Renewable Energy from $105.00 to $123.00 and gave the stock a “buy” rating in a research note on Friday, May 29th.

Enlight Renewable Energy Price Performance

Shares of ENLT opened at $86.32 on Monday. 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 $91.01 and a 200 day simple moving average of $71.38. Enlight Renewable Energy has a 52-week low of $22.61 and a 52-week high of $108.65. The firm has a market capitalization of $10.23 billion, a PE ratio of 200.74, a P/E/G ratio of 31.32 and a beta of 1.56.

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

Insider Activity at Enlight Renewable Energy

In other news, Chairman Gilad Yavetz sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were 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 directly owned 846,436 shares of the company’s stock, valued at $77,685,896.08. This trade represents a 10.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Yair Seroussi sold 22,505 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $90.63, for a total transaction of $2,039,628.15. Following the transaction, the insider directly owned 14,233 shares of the company’s stock, valued at $1,289,936.79. This represents a 61.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 313,597 shares of company stock worth $29,830,515.

Institutional Investors Weigh In On Enlight Renewable Energy

Large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its holdings in shares of Enlight Renewable Energy by 256.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock valued at $28,000 after buying an additional 881 shares during the last quarter. State of Wyoming acquired a new stake in shares of Enlight Renewable Energy in the 1st quarter valued at approximately $41,000. V Square Quantitative Management LLC acquired a new stake in shares of Enlight Renewable Energy in the 4th quarter valued at approximately $56,000. Walleye Capital LLC acquired a new stake in shares of Enlight Renewable Energy in the 1st quarter valued at approximately $240,000. Finally, Savant Capital LLC acquired a new stake in shares of Enlight Renewable Energy in the 4th quarter valued at approximately $241,000. Institutional investors and hedge funds own 38.89% of the company’s stock.

Enlight Renewable Energy Company Profile

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.