Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT) have been given a consensus rating of “Hold” by the eight research firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $75.00.

Several equities analysts have recently weighed in on the company. UBS Group cut their price objective on Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Weiss Ratings raised Enlight Renewable Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, September 3rd. Wall Street Zen downgraded shares of Enlight Renewable Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Truist Financial began coverage on shares of Enlight Renewable Energy in a research note on Monday, July 13th. They issued a “buy” rating and a $106.00 price target on the stock. Finally, Barclays upped their price target on shares of Enlight Renewable Energy from $83.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, July 20th.

Hedge Funds Weigh In On Enlight Renewable Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC increased its holdings in Enlight Renewable Energy by 9.8% during the 2nd quarter. Tidal Investments LLC now owns 27,273 shares of the company’s stock worth $2,428,000 after purchasing an additional 2,427 shares in the last quarter. Orion Capital Management LLC bought a new stake in shares of Enlight Renewable Energy in the second quarter valued at about $26,000. Navellier & Associates Inc. acquired a new position in shares of Enlight Renewable Energy during the second quarter worth about $3,475,000. Public Employees Retirement System of Ohio acquired a new position in shares of Enlight Renewable Energy during the second quarter worth about $751,000. Finally, Versant Capital Management Inc bought a new position in shares of Enlight Renewable Energy during the second quarter worth about $34,000. 38.89% of the stock is owned by institutional investors and hedge funds.

Enlight Renewable Energy Stock Performance

ENLT stock opened at $74.22 on Friday. The business’s 50-day moving average price is $83.05 and its two-hundred day moving average price is $83.09. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.31. The firm has a market cap of $8.80 billion, a PE ratio of 119.71, a P/E/G ratio of 57.83 and a beta of 1.65. Enlight Renewable Energy has a 1-year low of $28.03 and a 1-year high of $108.65.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its earnings results on Tuesday, June 30th. The company reported $0.20 earnings per share (EPS) for the quarter. The firm had revenue of $165.99 million during the quarter. Enlight Renewable Energy had a return on equity of 3.52% and a net margin of 12.35%. As a group, research analysts forecast that Enlight Renewable Energy will post 0.35 earnings per share for the current year.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd. is a renewable energy company that develops, finances, constructs, owns and operates utility-scale clean energy projects. Its activities focus primarily on solar photovoltaic, wind energy and energy storage systems, with projects designed to generate electricity and support the reliability and flexibility of power grids.

The company manages projects across multiple stages of the renewable energy value chain, including site development, permitting, power purchase arrangements, construction and long-term operation.