Enlight Renewable Energy Ltd. (ENLT) – What Are Brokerages Thinking About This Stock?

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) has been given a consensus rating of “Hold” by the nine analysts that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $75.29.

Several research firms recently issued reports on ENLT. Zacks Research raised shares of Enlight Renewable Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Weiss Ratings lowered 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 research report on Monday, July 20th. UBS Group decreased their price target on Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Finally, Truist Financial reduced their target price on Enlight Renewable Energy from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Monday, September 28th.

Insider Transactions at Enlight Renewable Energy

In other news, insider Ilan Goren sold 2,700 shares of the stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $64.81, for a total value of $174,987.00. Following the completion of the sale, the insider owned 40,135 shares in the company, valued at approximately $2,601,149.35. This trade represents a 6.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Amit Paz sold 2,221 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $73.94, for a total transaction of $164,220.74. Following the completion of the sale, the insider directly owned 277,462 shares of the company’s stock, valued at $20,515,540.28. This trade represents a 0.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 10,526 shares of company stock valued at $755,406 over the last quarter.

Institutional Investors Weigh In On Enlight Renewable Energy

Institutional investors have recently modified their holdings of the stock. Altshuler Shaham Ltd lifted its holdings 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 worth $311,645,000 after acquiring an additional 4,127,573 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its holdings in Enlight Renewable Energy by 18.2% in 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. Arrowstreet Capital Limited Partnership lifted its position 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 worth $66,126,000 after purchasing an additional 404,304 shares during the period. Norges Bank bought a new stake in Enlight Renewable Energy in the fourth quarter worth about $17,875,000. Finally, Bank of America Corp DE boosted its holdings in Enlight Renewable Energy by 376.4% during the first quarter. Bank of America Corp DE now owns 476,289 shares of the company’s stock worth $32,511,000 after buying an additional 376,309 shares in the last quarter. Institutional investors and hedge funds own 38.89% of the company’s stock.

Enlight Renewable Energy Stock Performance

Shares of ENLT opened at $70.44 on Wednesday. The company’s 50 day simple moving average is $75.55 and its 200-day simple moving average is $82.72. Enlight Renewable Energy has a 12-month low of $32.75 and a 12-month high of $108.65. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.31. The firm has a market cap of $8.35 billion, a PE ratio of 127.22, a price-to-earnings-growth ratio of 22.87 and a beta of 1.70.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its earnings results on Tuesday, June 30th. The company reported $0.20 earnings per share for the quarter. Enlight Renewable Energy had a net margin of 12.35% and a return on equity of 3.52%. The business had revenue of $165.99 million during the quarter. As a group, equities analysts predict that Enlight Renewable Energy will post 0.39 EPS for the current year.

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.