Enlight Renewable Energy (NASDAQ:ENLT) Shares Up 6.8% – What’s Next?

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) shares were up 6.8% on Tuesday . The stock traded as high as $93.59 and last traded at $91.2580. 234,988 shares traded hands during trading, an increase of 34% from the average session volume of 175,860 shares. The stock had previously closed at $85.47.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. UBS Group raised their target price 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. JPMorgan Chase & Co. boosted their target price 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. Deutsche Bank Aktiengesellschaft set a $65.00 price target on Enlight Renewable Energy and gave the company a “hold” rating in a report on Thursday, April 9th. Wall Street Zen raised Enlight Renewable Energy from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. 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 company’s stock. According to MarketBeat.com, Enlight Renewable Energy presently has a consensus rating of “Hold” and a consensus price target of $63.17.

Enlight Renewable Energy Stock Performance

The business’s fifty day moving average is $90.15 and its 200-day moving average is $70.02. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.68. The company has a market cap of $10.81 billion, a PE ratio of 211.94, a P/E/G ratio of 31.33 and a beta of 1.56.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its earnings results on Tuesday, March 31st. The company reported $0.16 EPS for the quarter. Enlight Renewable Energy had a net margin of 9.47% and a return on equity of 2.48%. The business had revenue of $156.49 million during the quarter. As a group, research analysts predict that Enlight Renewable Energy Ltd. will post 0.29 EPS for the current fiscal year.

Insider Transactions at Enlight Renewable Energy

In related news, VP Israeli Ayelet Cohen sold 10,123 shares of Enlight Renewable Energy stock in a transaction on Monday, June 1st. The stock was sold at an average price of $108.50, for a total transaction of $1,098,345.50. Following the transaction, the vice president directly owned 20,974 shares in the company, valued at approximately $2,275,679. The trade was a 32.55% 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 Michal Tzuk sold 2,400 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $105.86, for a total value of $254,064.00. Following the sale, the director directly owned 2,712 shares of the company’s stock, valued at $287,092.32. This represents a 46.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 313,597 shares of company stock worth $29,830,515 over the last three months.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ENLT. Clal Insurance Enterprises Holdings Ltd increased its holdings in 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 worth $774,113,000 after acquiring an additional 1,797,936 shares in the last quarter. Y.D. More Investments Ltd lifted its holdings in Enlight Renewable Energy by 4.5% during the fourth quarter. Y.D. More Investments Ltd now owns 5,837,263 shares of the company’s stock valued at $264,965,000 after purchasing an additional 252,446 shares in the last quarter. Vanguard Group Inc. lifted 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 valued at $225,058,000 after purchasing an additional 503,060 shares in the last quarter. Altshuler Shaham Ltd boosted its position in shares of Enlight Renewable Energy by 705.5% in the first quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company’s stock worth $311,645,000 after purchasing an additional 4,127,573 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Enlight Renewable Energy by 2.8% in the third quarter. Legal & General Group Plc now owns 1,920,888 shares of the company’s stock worth $59,253,000 after purchasing an additional 53,103 shares during the period. 38.89% of the stock is currently owned by institutional investors.

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.