Brokerages Set Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Price Target at $60.17

Shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT) have been assigned an average recommendation of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $60.1667.

ENLT has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. JPMorgan Chase & Co. lifted their price target on Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft set a $65.00 price target on Enlight Renewable Energy and gave the stock a “hold” rating in a research note on Thursday, April 9th. UBS Group lifted their price target on Enlight Renewable Energy from $93.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Barclays reaffirmed an “overweight” rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th.

Enlight Renewable Energy Price Performance

Enlight Renewable Energy stock opened at $85.87 on Friday. Enlight Renewable Energy has a one year low of $16.87 and a one year high of $96.00. 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 business has a fifty day moving average of $78.73 and a two-hundred day moving average of $59.46. The company has a market cap of $10.18 billion, a P/E ratio of 199.70, a price-to-earnings-growth ratio of 25.00 and a beta of 1.51.

Enlight Renewable Energy (NASDAQ:ENLT) last released its earnings results on Tuesday, March 31st. The company reported $0.16 EPS for the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%.The company had revenue of $156.49 million during the quarter. As a group, analysts predict that Enlight Renewable Energy will post 0.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Enlight Renewable Energy

In other news, VP Lisa Haimovitz sold 3,883 shares of Enlight Renewable Energy stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $92.67, for a total transaction of $359,837.61. Following the completion of the transaction, the vice president owned 13,026 shares of the company’s stock, valued at $1,207,119.42. The trade was a 22.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Yair Seroussi sold 22,505 shares of Enlight Renewable Energy stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $90.63, for a total value 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 trade represents a 61.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 144,125 shares of company stock worth $13,211,603.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Enlight Renewable Energy by 3.9% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,722,610 shares of the company’s stock worth $84,837,000 after buying an additional 103,430 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Enlight Renewable Energy by 26.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 57,621 shares of the company’s stock worth $2,618,000 after purchasing an additional 11,994 shares in the last quarter. Y.D. More Investments Ltd increased its position in Enlight Renewable Energy by 4.5% during the 4th quarter. Y.D. More Investments Ltd now owns 5,837,263 shares of the company’s stock worth $264,965,000 after purchasing an additional 252,446 shares in the last quarter. Vanguard Group Inc. increased its position in Enlight Renewable Energy by 11.3% during the 4th quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company’s stock worth $225,058,000 after purchasing an additional 503,060 shares in the last quarter. Finally, Citigroup Inc. increased its position in Enlight Renewable Energy by 465.1% during the 3rd quarter. Citigroup Inc. now owns 110,153 shares of the company’s stock worth $3,398,000 after purchasing an additional 90,662 shares in 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.