Enlight Renewable Energy (NASDAQ:ENLT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Enlight Renewable Energy (NASDAQ:ENLT) from a sell rating to a hold rating in a research note issued to investors on Monday.

A number of other equities analysts have also weighed in on ENLT. Weiss Ratings reiterated 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 Enlight Renewable Energy and gave the company a “hold” rating in a research note on Thursday, April 9th. JPMorgan Chase & Co. increased their price objective on Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 6th. UBS Group dropped their target price on Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Finally, Truist Financial began coverage on shares of Enlight Renewable Energy in a research report on Monday, July 13th. They issued a “buy” rating and a $106.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Enlight Renewable Energy has a consensus rating of “Hold” and a consensus target price of $75.00.

Enlight Renewable Energy Stock Performance

Shares of ENLT stock opened at $91.60 on Monday. Enlight Renewable Energy has a 52 week low of $22.95 and a 52 week high of $108.65. The company has a market capitalization of $10.86 billion, a price-to-earnings ratio of 213.03, a PEG ratio of 24.30 and a beta of 1.66. The company has a 50-day simple moving average of $90.69 and a 200 day simple moving average of $77.01. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.77 and a current ratio of 0.77.

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 for the quarter. Enlight Renewable Energy had a net margin of 9.47% and a return on equity of 2.48%. On average, sell-side analysts predict that Enlight Renewable Energy will post 0.28 earnings per share for the current year.

Insider Activity

In other Enlight Renewable Energy news, insider Ilan Goren sold 26,622 shares of Enlight Renewable Energy stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $103.76, for a total value of $2,762,298.72. Following the completion of the transaction, the insider directly owned 42,835 shares of the company’s stock, valued at $4,444,559.60. The trade was a 38.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Yair Seroussi sold 22,505 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $90.63, for a total value of $2,039,628.15. Following the sale, the insider owned 14,233 shares of the company’s stock, valued at approximately $1,289,936.79. The trade was a 61.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 313,597 shares of company stock worth $29,830,515.

Institutional Trading of Enlight Renewable Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Amundi boosted its position in shares of Enlight Renewable Energy by 2.3% during the 1st quarter. Amundi now owns 74,681 shares of the company’s stock worth $1,160,000 after acquiring an additional 1,647 shares in the last quarter. Geode Capital Management LLC raised its position in Enlight Renewable Energy by 0.7% during the second quarter. Geode Capital Management LLC now owns 108,157 shares of the company’s stock valued at $2,458,000 after purchasing an additional 773 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Enlight Renewable Energy during the second quarter valued at approximately $815,000. First Trust Advisors LP lifted its stake in Enlight Renewable Energy by 9.6% during the second quarter. First Trust Advisors LP now owns 70,516 shares of the company’s stock worth $1,600,000 after purchasing an additional 6,201 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Enlight Renewable Energy by 9.7% during the second quarter. Canada Pension Plan Investment Board now owns 279,789 shares of the company’s stock worth $6,348,000 after purchasing 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.