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

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) has been given a consensus recommendation of “Hold” by the seven ratings firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $63.1667.

Several equities research analysts have recently weighed in on ENLT shares. Barclays reiterated an “overweight” rating on shares of Enlight Renewable Energy in a research report on Wednesday, February 18th. JPMorgan Chase & Co. upped their price target on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft set a $65.00 price target on shares of Enlight Renewable Energy and gave the stock a “hold” rating in a report on Thursday, April 9th. UBS Group upped their price target on shares of Enlight Renewable Energy from $105.00 to $123.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a report on Friday, March 27th.

Enlight Renewable Energy Trading Down 8.2%

Shares of ENLT opened at $95.95 on Thursday. The business’s 50-day moving average price is $84.63 and its 200-day moving average price is $65.19. Enlight Renewable Energy has a twelve month low of $18.22 and a twelve month high of $108.65. The stock has a market cap of $11.38 billion, a PE ratio of 223.14, a P/E/G ratio of 37.88 and a beta of 1.56. 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 (NASDAQ:ENLT) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share for the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%.The firm had revenue of $156.49 million for the quarter. On average, equities analysts forecast that Enlight Renewable Energy will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Ilan Goren sold 26,622 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $103.76, for a total value of $2,762,298.72. Following the transaction, the insider directly owned 42,835 shares in the company, valued at approximately $4,444,559.60. This represents a 38.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shai Yeshayahu Weil sold 73,436 shares of the company’s stock in a transaction that occurred on Monday, May 25th. The stock was sold at an average price of $93.68, for a total transaction of $6,879,484.48. Following the completion of the transaction, the director owned 396,655 shares in the company, valued at approximately $37,158,640.40. This trade represents a 15.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 313,597 shares of company stock valued at $29,830,515 in the last 90 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ENLT. Amundi increased its stake in Enlight Renewable Energy by 2.3% in the first quarter. Amundi now owns 74,681 shares of the company’s stock valued at $1,160,000 after acquiring an additional 1,647 shares during the last quarter. Geode Capital Management LLC increased its stake in Enlight Renewable Energy by 0.7% in the second quarter. Geode Capital Management LLC now owns 108,157 shares of the company’s stock valued at $2,458,000 after acquiring an additional 773 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Enlight Renewable Energy in the second quarter valued at $815,000. First Trust Advisors LP increased its stake in Enlight Renewable Energy by 9.6% in the second quarter. First Trust Advisors LP now owns 70,516 shares of the company’s stock valued at $1,600,000 after acquiring an additional 6,201 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Enlight Renewable Energy by 9.7% in the second quarter. Canada Pension Plan Investment Board now owns 279,789 shares of the company’s stock valued at $6,348,000 after acquiring an additional 24,653 shares during the last quarter. Institutional investors 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.