Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Stock Has Average Price Target of $74.86

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) has received an average rating of “Hold” from the nine ratings firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $74.86.

ENLT has been the subject of a number of recent research reports. Truist Financial cut their price objective on Enlight Renewable Energy from $106.00 to $104.00 and set a “buy” rating for the company in a research note on Monday, September 28th. Mizuho reduced their target price on shares of Enlight Renewable Energy from $45.00 to $41.00 and set an “underperform” rating for the company in a report on Tuesday, October 13th. Weiss Ratings cut shares of Enlight Renewable Energy from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, September 18th. Zacks Research raised shares of Enlight Renewable Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Finally, Wall Street Zen lowered shares of Enlight Renewable Energy from a “hold” rating to a “sell” rating in a research report on Sunday, October 25th.

Enlight Renewable Energy Price Performance

NASDAQ ENLT opened at $66.31 on Friday. The business’s fifty day moving average is $72.02 and its 200 day moving average is $77.57. Enlight Renewable Energy has a fifty-two week low of $32.87 and a fifty-two week 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 company has a market capitalization of $7.86 billion, a PE ratio of 106.95, a price-to-earnings-growth ratio of 21.88 and a beta of 1.70.

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

Insider Activity at Enlight Renewable Energy

In other news, insider Amit Paz sold 4,329 shares of the business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $76.57, for a total value of $331,471.53. Following the transaction, the insider owned 279,683 shares of the company’s stock, valued at approximately $21,415,327.31. The trade was a 1.52% 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 hyperlink. Also, insider Ilan Goren sold 2,700 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $64.81, for a total transaction of $174,987.00. Following the transaction, the insider directly owned 40,135 shares of the company’s stock, valued at $2,601,149.35. The trade was a 6.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 10,526 shares of company stock worth $755,406.

Institutional Investors Weigh In On Enlight Renewable Energy

Several large investors have recently bought and sold shares of ENLT. Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Enlight Renewable Energy by 18.2% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 11,688,077 shares of the company’s stock worth $774,113,000 after buying an additional 1,797,936 shares during the last quarter. Altshuler Shaham Ltd increased its position in shares of Enlight Renewable Energy by 705.5% during the 1st quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company’s stock valued at $311,645,000 after purchasing an additional 4,127,573 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Enlight Renewable Energy by 68.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 995,347 shares of the company’s stock valued at $66,126,000 after purchasing an additional 404,304 shares during the last quarter. Bank of America Corp DE raised its holdings in Enlight Renewable Energy by 376.4% during the 1st quarter. Bank of America Corp DE now owns 476,289 shares of the company’s stock valued at $32,511,000 after buying an additional 376,309 shares during the period. Finally, Swiss National Bank raised its holdings in Enlight Renewable Energy by 1.3% during the 1st quarter. Swiss National Bank now owns 264,220 shares of the company’s stock valued at $17,477,000 after buying an additional 3,273 shares during the period. Institutional investors own 38.89% of the company’s stock.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd. (NASDAQ: ENLT) is a renewable energy company that develops, finances, constructs, owns and operates clean energy projects. Its activities include utility-scale solar photovoltaic, wind power and energy storage projects.

The company manages projects across multiple stages of the renewable energy lifecycle, from development and permitting through construction and long-term operation. Its portfolio and development activities span Israel, the United States and selected European markets.

Founded in 1988, Enlight is headquartered in Israel and is also listed on the Tel Aviv Stock Exchange.