Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Stock Now Rated “Hold” by Sell-Side Analysts

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) has earned a consensus rating of “Hold” from the nine analysts that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $74.86.

Several equities research analysts have weighed in on the company. Weiss Ratings downgraded Enlight Renewable Energy from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, September 18th. Mizuho decreased their price objective on Enlight Renewable Energy from $45.00 to $41.00 and set an “underperform” rating for the company in a report on Tuesday, October 13th. JPMorgan Chase & Co. lowered their target price on Enlight Renewable Energy from $80.00 to $65.00 and set an “underweight” rating on the stock in a research note on Monday, October 19th. Truist Financial lowered their target price on 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. Finally, Wall Street Zen lowered Enlight Renewable Energy from a “hold” rating to a “sell” rating in a report on Sunday, October 25th.

Insiders Place Their Bets

In other Enlight Renewable Energy news, CFO Nir Yehuda sold 1,276 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $66.40, for a total value of $84,726.40. Following the sale, the chief financial officer owned 34,324 shares in the company, valued at approximately $2,279,113.60. This represents a 3.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 firm’s stock in a transaction that occurred 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 sale, the insider directly owned 40,135 shares in the company, valued at $2,601,149.35. The trade was a 6.30% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 10,526 shares of company stock worth $755,406.

Institutional Trading of Enlight Renewable Energy

A number of hedge funds have recently added to or reduced their stakes in the company. Orion Capital Management LLC purchased a new position in Enlight Renewable Energy in the second quarter valued at $26,000. Versant Capital Management Inc acquired a new position in shares of Enlight Renewable Energy in the second quarter worth about $34,000. State of Wyoming acquired a new position in shares of Enlight Renewable Energy in the first quarter worth about $41,000. GAMMA Investing LLC purchased a new stake in shares of Enlight Renewable Energy during the 3rd quarter worth about $59,000. Finally, Gen Wealth Partners Inc boosted its stake in shares of Enlight Renewable Energy by 5,992.3% during the 3rd quarter. Gen Wealth Partners Inc now owns 1,584 shares of the company’s stock worth $110,000 after acquiring an additional 1,558 shares in the last quarter. 38.89% of the stock is owned by hedge funds and other institutional investors.

Enlight Renewable Energy Stock Up 5.7%

NASDAQ:ENLT opened at $68.32 on Friday. The firm has a market capitalization of $8.10 billion, a P/E ratio of 103.52, a PEG ratio of 19.54 and a beta of 1.72. Enlight Renewable Energy has a 1-year low of $32.87 and a 1-year high of $108.65. The company’s fifty day moving average price is $70.71 and its 200-day moving average price is $77.94. The company has a debt-to-equity ratio of 2.25, a current ratio of 0.75 and a quick ratio of 1.12.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its earnings results on Tuesday, November 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. Enlight Renewable Energy had a net margin of 12.25% and a return on equity of 3.59%. The company had revenue of $186.71 million during the quarter, compared to the consensus estimate of $581.13 million. As a group, equities research analysts anticipate that Enlight Renewable Energy will post 0.49 EPS for the current year.

About Enlight Renewable Energy