Truist Financial Cuts Enlight Renewable Energy (NASDAQ:ENLT) Price Target to $104.00

Enlight Renewable Energy (NASDAQ:ENLT) had its target price decreased by Truist Financial from $106.00 to $104.00 in a research report report published on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on ENLT. Barclays upped their target price 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. Weiss Ratings downgraded Enlight Renewable Energy from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, September 18th. Wall Street Zen lowered Enlight Renewable Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, UBS Group reduced their price objective on Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Enlight Renewable Energy has an average rating of “Hold” and an average target price of $74.71.

Enlight Renewable Energy Stock Performance

Shares of ENLT opened at $69.41 on Monday. The firm has a market cap of $8.23 billion, a P/E ratio of 111.95, a PEG ratio of 54.67 and a beta of 1.65. Enlight Renewable Energy has a twelve month low of $29.65 and a twelve month high of $108.65. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.12 and a current ratio of 1.12. The firm’s 50 day moving average price is $79.04 and its two-hundred day moving average price is $83.13.

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

Insider Buying and Selling

In related news, insider Amit Paz sold 4,329 shares of the 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 transaction, the insider owned 279,683 shares in the company, valued at approximately $21,415,327.31. This represents a 1.52% 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.

Institutional Investors Weigh In On Enlight Renewable Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio boosted its stake in shares of Enlight Renewable Energy by 0.3% during the 1st quarter. Public Employees Retirement System of Ohio now owns 48,095 shares of the company’s stock worth $3,185,000 after buying an additional 127 shares during the last quarter. Quantinno Capital Management LP grew its holdings in shares of Enlight Renewable Energy by 2.7% in the 1st quarter. Quantinno Capital Management LP now owns 6,506 shares of the company’s stock valued at $435,000 after acquiring an additional 170 shares in the last quarter. Orion Capital Management LLC acquired a new stake in shares of Enlight Renewable Energy in the second quarter valued at about $26,000. Versant Capital Management Inc acquired a new stake in shares of Enlight Renewable Energy in the second quarter valued at about $34,000. Finally, State of Wyoming bought a new stake in Enlight Renewable Energy during the first quarter worth about $41,000. 38.89% of the stock is owned by institutional investors.

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.