Enlight Renewable Energy (NASDAQ:ENLT) Stock Rating Upgraded by Zacks Research

Enlight Renewable Energy (NASDAQ:ENLT) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday, Zacks reports.

A number of other analysts have also recently commented on the company. Weiss Ratings cut Enlight Renewable Energy from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, September 18th. Barclays boosted their price objective 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. Truist Financial lowered their target price on shares of Enlight Renewable Energy from $106.00 to $104.00 and set a “buy” rating for the company in a research note on Monday, September 28th. Wall Street Zen lowered shares of Enlight Renewable Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, UBS Group reduced 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. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $74.71.

Enlight Renewable Energy Trading Down 2.2%

NASDAQ ENLT opened at $66.08 on Tuesday. The stock has a 50-day simple moving average of $76.94 and a 200 day simple moving average of $82.83. The company has a market capitalization of $7.84 billion, a PE ratio of 106.58, a P/E/G ratio of 52.84 and a beta of 1.70. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.31. Enlight Renewable Energy has a 12 month low of $32.31 and a 12 month high of $108.65.

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

Insiders Place Their Bets

In related news, insider Ilan Goren sold 2,700 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $64.81, for a total transaction of $174,987.00. Following the completion of the transaction, the insider owned 40,135 shares in the company, valued at approximately $2,601,149.35. This represents a 6.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Amit Paz sold 4,329 shares of Enlight Renewable Energy stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $76.57, for a total transaction of $331,471.53. Following the completion of the sale, the insider owned 279,683 shares in the company, valued at $21,415,327.31. The trade was a 1.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,526 shares of company stock valued at $755,406 in the last quarter.

Institutional Trading of Enlight Renewable Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Altshuler Shaham Ltd lifted its stake in Enlight Renewable Energy by 705.5% in the 1st quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company’s stock valued at $311,645,000 after purchasing an additional 4,127,573 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd increased its position 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 buying an additional 1,797,936 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in 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 period. Bank of America Corp DE raised its stake in Enlight Renewable Energy by 376.4% in the first quarter. Bank of America Corp DE now owns 476,289 shares of the company’s stock valued at $32,511,000 after buying an additional 376,309 shares during the period. Finally, 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. Institutional investors and hedge funds own 38.89% of the company’s stock.

About Enlight Renewable Energy

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.