Enlight Renewable Energy (NASDAQ:ENLT) Given New $123.00 Price Target at UBS Group

Enlight Renewable Energy (NASDAQ:ENLT) had its target price boosted by equities researchers at UBS Group from $105.00 to $123.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price target suggests a potential upside of 14.50% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. Mizuho set a $37.00 price target on shares of Enlight Renewable Energy in a research note on Monday, February 23rd. JPMorgan Chase & Co. lifted their price target on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the company an “underweight” rating in a research note on Wednesday, May 6th. Barclays reaffirmed an “overweight” rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft set a $65.00 price objective on shares of Enlight Renewable Energy and gave the company a “hold” rating in a report on Thursday, April 9th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $63.17.

Enlight Renewable Energy Stock Up 4.6%

ENLT traded up $4.72 during trading on Friday, reaching $107.42. The company had a trading volume of 518,605 shares, compared to its average volume of 161,020. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.77 and a quick ratio of 0.77. Enlight Renewable Energy has a 12 month low of $18.22 and a 12 month high of $108.65. The business’s fifty day moving average price is $82.36 and its 200 day moving average price is $63.33. The company has a market cap of $12.74 billion, a P/E ratio of 249.82, a PEG ratio of 37.13 and a beta of 1.51.

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 net margin of 9.47% and a return on equity of 2.48%. The firm had revenue of $156.49 million for the quarter. Equities analysts anticipate that Enlight Renewable Energy will post 0.29 EPS for the current year.

Insider Buying and Selling

In related news, SVP Meron Carr sold 3,329 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $103.44, for a total transaction of $344,351.76. Following the completion of the transaction, the senior vice president directly owned 42,465 shares of the company’s stock, valued at approximately $4,392,579.60. This represents a 7.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ilan Goren sold 26,622 shares of the 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 of the company’s stock, valued at $4,444,559.60. This trade represents a 38.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 285,792 shares of company stock valued at $26,913,850 over the last ninety days.

Hedge Funds Weigh In On Enlight Renewable Energy

A number of institutional investors have recently added to or reduced their stakes in ENLT. Altshuler Shaham Ltd increased its holdings in 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 last quarter. Y.D. More Investments Ltd increased its holdings in Enlight Renewable Energy by 50.5% during the third quarter. Y.D. More Investments Ltd now owns 5,584,817 shares of the company’s stock worth $172,143,000 after buying an additional 1,875,084 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd increased its holdings in Enlight Renewable Energy by 18.2% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 11,688,077 shares of the company’s stock worth $774,113,000 after buying an additional 1,797,936 shares during the last quarter. Vanguard Group Inc. increased its holdings in Enlight Renewable Energy by 11.3% during the fourth quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company’s stock worth $225,058,000 after buying an additional 503,060 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in 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 buying an additional 404,304 shares during the last quarter. 38.89% of the stock is currently owned by institutional investors and hedge funds.

More Enlight Renewable Energy News

Here are the key news stories impacting Enlight Renewable Energy this week:

• Positive Sentiment: Enlight signed a 200 MW AC solar PPA with Google to support data center operations in Oklahoma, a high-profile contract that strengthens the company’s growth story and improves long-term revenue visibility. Article Title
• Positive Sentiment: Recent analyst commentary has been constructive, including UBS raising its price target to $105 and maintaining a buy rating, which may be helping support shares. Article Title
• Neutral Sentiment: Institutional investors remain active in the stock, with several funds adding to positions, indicating continued professional interest in ENLT. Article Title
• Negative Sentiment: Insiders have been selling shares recently, including Director Yitzhak Betzalel, SVP Meron Carr, and VP Lisa Haimovitz; the cluster of sales could make investors cautious after the stock’s strong run. Article Title

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.