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

Shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT) have received an average rating of “Hold” from the seven research firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $63.1667.

A number of analysts recently commented on the company. 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. Wall Street Zen raised shares of Enlight Renewable Energy from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. Deutsche Bank Aktiengesellschaft set a $65.00 price objective on shares of Enlight Renewable Energy and gave the company a “hold” rating in a research report on Thursday, April 9th. Finally, UBS Group raised their target price on shares of Enlight Renewable Energy from $105.00 to $123.00 and gave the stock a “buy” rating in a research report on Friday, May 29th.

Enlight Renewable Energy Stock Performance

NASDAQ:ENLT opened at $84.26 on Monday. Enlight Renewable Energy has a 52-week low of $22.95 and a 52-week high of $108.65. The company has a market capitalization of $9.99 billion, a PE ratio of 195.96, a price-to-earnings-growth ratio of 30.53 and a beta of 1.66. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.68. The stock has a fifty day simple moving average of $91.43 and a 200-day simple moving average of $72.78.

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. Enlight Renewable Energy had a net margin of 9.47% and a return on equity of 2.48%. The business had revenue of $156.49 million during the quarter. On average, equities research analysts expect that Enlight Renewable Energy will post 0.29 earnings per share for the current fiscal year.

Insider Activity at Enlight Renewable Energy

In related news, Director Michal Tzuk sold 2,400 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $105.86, for a total transaction of $254,064.00. Following the completion of the sale, the director owned 2,712 shares of the company’s stock, valued at approximately $287,092.32. This represents a 46.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Yitzhak Betzalel sold 2,062 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $103.64, for a total value of $213,705.68. Following the sale, the director owned 2 shares of the company’s stock, valued at $207.28. This represents a 99.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 313,597 shares of company stock valued at $29,830,515 over the last three months.

Institutional Investors Weigh In On Enlight Renewable Energy

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its position in shares of Enlight Renewable Energy by 256.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock worth $28,000 after purchasing an additional 881 shares during the period. Versant Capital Management Inc bought a new position in Enlight Renewable Energy during the 2nd quarter worth $34,000. State of Wyoming acquired a new stake in Enlight Renewable Energy in the first quarter worth $41,000. V Square Quantitative Management LLC acquired a new stake in Enlight Renewable Energy in the fourth quarter worth $56,000. Finally, Walleye Capital LLC bought a new stake in Enlight Renewable Energy in the first quarter valued at $240,000. 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.