Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Receives Consensus Recommendation of “Hold” from Analysts

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) has received an average recommendation of “Hold” from the eight ratings firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $75.00.

Several research firms recently weighed in on ENLT. Wall Street Zen cut Enlight Renewable Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings cut shares of Enlight Renewable Energy from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 19th. JPMorgan Chase & Co. upped their price target on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the company an “underweight” rating in a research note on Wednesday, May 6th. UBS Group dropped their price objective on shares of Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Finally, Barclays increased 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 report on Monday, July 20th.

Enlight Renewable Energy Trading Down 2.9%

Shares of Enlight Renewable Energy stock opened at $77.64 on Tuesday. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.12 and a quick ratio of 1.12. The business has a fifty day simple moving average of $85.65 and a two-hundred day simple moving average of $81.97. Enlight Renewable Energy has a 1 year low of $27.02 and a 1 year high of $108.65. The company has a market capitalization of $9.21 billion, a price-to-earnings ratio of 125.23, a P/E/G ratio of 62.48 and a beta of 1.68.

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

Insiders Place Their Bets

In related news, VP Lisa Haimovitz sold 2,807 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $103.75, for a total transaction of $291,226.25. Following the completion of the sale, the vice president owned 13,026 shares of the company’s stock, valued at $1,351,447.50. This represents a 17.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Israeli Ayelet Cohen sold 10,123 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $108.50, for a total transaction of $1,098,345.50. Following the sale, the vice president owned 20,974 shares in the company, valued at $2,275,679. The trade was a 32.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 67,045 shares of company stock valued at $6,984,503 over the last 90 days.

Institutional Investors Weigh In On Enlight Renewable Energy

A number of hedge funds have recently made changes to their positions in the stock. Orion Capital Management LLC bought a new stake in shares of Enlight Renewable Energy during the second quarter worth $26,000. BNP Paribas Financial Markets boosted its holdings 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 valued at $28,000 after acquiring an additional 881 shares in the last quarter. Versant Capital Management Inc acquired a new stake in shares of Enlight Renewable Energy during the 2nd quarter valued at $34,000. State of Wyoming bought a new stake in Enlight Renewable Energy during the 1st quarter worth $41,000. Finally, Walleye Capital LLC acquired a new position in Enlight Renewable Energy in the 1st quarter worth about $240,000. 38.89% of the stock is currently owned by institutional investors and hedge funds.

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.