Enlight Renewable Energy (NASDAQ:ENLT) Trading Up 6.8% – What’s Next?

Enlight Renewable Energy Ltd. (NASDAQ:ENLT)’s share price shot up 6.8% on Tuesday . The stock traded as high as $93.59 and last traded at $91.2580. Approximately 234,988 shares changed hands during trading, an increase of 34% from the average daily volume of 175,860 shares. The stock had previously closed at $85.47.

Analyst Ratings Changes

ENLT has been the subject of several research reports. Wall Street Zen raised Enlight Renewable Energy from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Mizuho set a $37.00 price target on Enlight Renewable Energy in a research note on Monday, February 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. JPMorgan Chase & Co. raised their price objective on Enlight Renewable Energy from $57.00 to $68.00 and gave the company an “underweight” rating in a research report on Wednesday, May 6th. Finally, UBS Group boosted their target price on shares of Enlight Renewable Energy from $105.00 to $123.00 and gave the company a “buy” rating in a report on Friday, May 29th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Enlight Renewable Energy has a consensus rating of “Hold” and a consensus target price of $63.17.

Enlight Renewable Energy Stock Up 6.6%

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 company’s fifty day moving average price is $90.15 and its 200-day moving average price is $70.02. The stock has a market capitalization of $10.81 billion, a PE ratio of 211.94, a price-to-earnings-growth ratio of 31.33 and a beta of 1.56.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.16 earnings per share for the quarter. The company had revenue of $156.49 million during the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%. Analysts forecast that Enlight Renewable Energy Ltd. will post 0.29 earnings per share for the current year.

Insider Activity

In other news, VP Israeli Ayelet Cohen sold 10,123 shares of Enlight Renewable Energy stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $108.50, for a total value of $1,098,345.50. Following the completion of the transaction, the vice president owned 20,974 shares of the company’s stock, valued at $2,275,679. The trade was a 32.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Gilad Yavetz sold 100,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $91.78, for a total transaction of $9,178,000.00. Following the sale, the chairman directly owned 846,436 shares in the company, valued at $77,685,896.08. This trade represents a 10.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 313,597 shares of company stock valued at $29,830,515.

Institutional Investors Weigh In On Enlight Renewable Energy

Institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Enlight Renewable Energy by 26.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 57,621 shares of the company’s stock worth $2,618,000 after purchasing an additional 11,994 shares in the last quarter. Y.D. More Investments Ltd boosted its position in shares of Enlight Renewable Energy by 4.5% during the fourth quarter. Y.D. More Investments Ltd now owns 5,837,263 shares of the company’s stock valued at $264,965,000 after buying an additional 252,446 shares during the last quarter. Altshuler Shaham Ltd increased its holdings in Enlight Renewable Energy by 41.9% in the 4th quarter. Altshuler Shaham Ltd now owns 585,068 shares of the company’s stock worth $26,557,000 after buying an additional 172,718 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd raised its position in Enlight Renewable Energy by 19.9% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 9,890,141 shares of the company’s stock worth $448,589,000 after buying an additional 1,643,110 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Enlight Renewable Energy by 11.3% during the 4th quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company’s stock valued at $225,058,000 after acquiring an additional 503,060 shares during the period. Hedge funds and other institutional investors own 38.89% of the company’s stock.

Enlight Renewable Energy Company Profile

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.