Analysts Set Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Price Target at $63.17

Shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT) have received a consensus rating of “Hold” from the seven brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $63.1667.

A number of equities research analysts have recently weighed in on ENLT shares. UBS Group lifted their price objective on Enlight Renewable Energy from $105.00 to $123.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. JPMorgan Chase & Co. lifted 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. Barclays reiterated an “overweight” rating on shares of Enlight Renewable Energy in a research report on Wednesday, February 18th. Wall Street Zen upgraded Enlight Renewable Energy from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Mizuho set a $37.00 price objective on Enlight Renewable Energy in a research report on Monday, February 23rd.

Enlight Renewable Energy Price Performance

Shares of ENLT stock opened at $95.06 on Thursday. The firm has a market cap of $11.27 billion, a P/E ratio of 221.07, a P/E/G ratio of 32.96 and a beta of 1.56. Enlight Renewable Energy has a fifty-two week low of $18.22 and a fifty-two week high of $108.65. The business’s 50 day moving average price is $85.92 and its 200-day moving average price is $66.38. 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 issued its quarterly earnings data 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 return on equity of 2.48% and a net margin of 9.47%. On average, equities research analysts anticipate that Enlight Renewable Energy will post 0.29 earnings per share for the current year.

Insider Activity at Enlight Renewable Energy

In related news, VP Israeli Ayelet Cohen sold 10,123 shares of Enlight Renewable Energy stock in a transaction that occurred 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 sale, the vice president directly owned 20,974 shares in the company, valued at $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 SEC, which is available through this hyperlink. Also, Director Michal Tzuk sold 2,400 shares of Enlight Renewable Energy stock in a transaction that occurred on 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 owned 2,712 shares in the company, valued at $287,092.32. This represents a 46.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 313,597 shares of company stock valued at $29,830,515 over the last ninety days.

Institutional Investors Weigh In On Enlight Renewable Energy

Several hedge funds have recently made changes to their positions in ENLT. BNP Paribas Financial Markets boosted its position in shares of Enlight Renewable Energy by 256.1% during the second quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock valued at $28,000 after purchasing an additional 881 shares in the last quarter. State of Wyoming bought a new stake in shares of Enlight Renewable Energy during the first quarter valued at approximately $41,000. V Square Quantitative Management LLC bought a new stake in shares of Enlight Renewable Energy during the fourth quarter valued at approximately $56,000. Walleye Capital LLC bought a new stake in shares of Enlight Renewable Energy during the first quarter valued at approximately $240,000. Finally, Savant Capital LLC bought a new stake in shares of Enlight Renewable Energy during the fourth quarter valued at approximately $241,000. 38.89% of the stock is currently owned by institutional investors.

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.