Enlight Renewable Energy (NASDAQ:ENLT) Upgraded at Zacks Research

Zacks Research upgraded shares of Enlight Renewable Energy (NASDAQ:ENLT) from a hold rating to a strong-buy rating in a research note released on Tuesday morning,Zacks reports.

Other analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Enlight Renewable Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings downgraded shares of Enlight Renewable Energy from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, September 18th. Truist Financial lowered their price target on shares of Enlight Renewable Energy from $106.00 to $104.00 and set a “buy” rating on the stock in a research note on Monday, September 28th. UBS Group cut their price target on shares of Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Finally, Barclays increased their price objective on shares of Enlight Renewable Energy from $83.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Enlight Renewable Energy has a consensus rating of “Hold” and a consensus target price of $74.71.

Enlight Renewable Energy Stock Up 1.6%

ENLT stock opened at $67.11 on Tuesday. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $7.96 billion, a P/E ratio of 108.24, a P/E/G ratio of 51.66 and a beta of 1.70. Enlight Renewable Energy has a fifty-two week low of $32.75 and a fifty-two week high of $108.65. The business has a 50-day moving average of $76.57 and a 200-day moving average of $82.80.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its earnings results on Tuesday, June 30th. The company reported $0.20 earnings per share (EPS) for the quarter. The business had revenue of $165.99 million for the quarter. Enlight Renewable Energy had a return on equity of 3.52% and a net margin of 12.35%. On average, sell-side analysts anticipate that Enlight Renewable Energy will post 0.35 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Nir Yehuda sold 1,276 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $66.40, for a total value of $84,726.40. Following the completion of the transaction, the chief financial officer directly owned 34,324 shares of the company’s stock, valued at approximately $2,279,113.60. This trade represents a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ilan Goren sold 2,700 shares of the business’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $64.81, for a total transaction of $174,987.00. Following the transaction, the insider owned 40,135 shares in the company, valued at approximately $2,601,149.35. The trade was a 6.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 10,526 shares of company stock valued at $755,406.

Institutional Investors Weigh In On Enlight Renewable Energy

A number of institutional investors and hedge funds have recently modified their holdings of ENLT. Clal Insurance Enterprises Holdings Ltd grew 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 purchasing an additional 1,797,936 shares during the period. Altshuler Shaham Ltd raised its stake in Enlight Renewable Energy by 705.5% in the first quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company’s stock valued at $311,645,000 after buying an additional 4,127,573 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Enlight Renewable Energy by 68.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 995,347 shares of the company’s stock valued at $66,126,000 after buying an additional 404,304 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Enlight Renewable Energy by 121.2% in the first quarter. Assenagon Asset Management S.A. now owns 505,792 shares of the company’s stock valued at $33,527,000 after buying an additional 277,179 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Enlight Renewable Energy by 376.4% during the 1st quarter. Bank of America Corp DE now owns 476,289 shares of the company’s stock worth $32,511,000 after acquiring an additional 376,309 shares during the period. 38.89% of the stock is owned by institutional investors.

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 portfolio includes solar photovoltaic, wind energy and energy storage facilities, with activities spanning project development through long-term asset ownership and operations.

The company serves electricity markets in Israel, the United States and several European countries. Its business is focused on expanding renewable generation and storage capacity, often through projects that combine intermittent renewable resources with storage technology to support grid reliability and power delivery.

Enlight was established in Israel and has developed into an international renewable energy platform.