Enlight Renewable Energy (NASDAQ:ENLT) Upgraded to “Strong-Buy” at Truist Financial

Enlight Renewable Energy (NASDAQ:ENLT) was upgraded by investment analysts at Truist Financial to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities analysts also recently commented on ENLT. UBS Group dropped their target price 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. JPMorgan Chase & Co. boosted their price target on Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a report on Wednesday, May 6th. Wall Street Zen lowered shares of Enlight Renewable Energy from a “hold” rating to a “sell” rating in a report on Sunday. Weiss Ratings reissued a “hold (c)” rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. Finally, Deutsche Bank Aktiengesellschaft set a $65.00 price target on shares of Enlight Renewable Energy and gave the company a “hold” rating in a research report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $68.14.

Enlight Renewable Energy Stock Up 8.8%

Shares of NASDAQ:ENLT opened at $90.25 on Monday. The company has a fifty day moving average of $90.81 and a 200-day moving average of $75.10. The company has a market capitalization of $10.70 billion, a PE ratio of 209.89, a price-to-earnings-growth ratio of 22.52 and a beta of 1.66. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.77 and a current ratio of 0.77. Enlight Renewable Energy has a 52-week low of $22.95 and a 52-week high of $108.65.

Enlight Renewable Energy (NASDAQ:ENLT) last released 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 for the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%. On average, equities analysts predict that Enlight Renewable Energy will post 0.28 EPS for the current fiscal year.

Insider Activity at Enlight Renewable Energy

In related news, Chairman Gilad Yavetz sold 100,000 shares of Enlight Renewable Energy stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $91.78, for a total value of $9,178,000.00. Following the transaction, the chairman directly owned 846,436 shares of the company’s stock, valued at $77,685,896.08. The trade was a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Israeli Ayelet Cohen sold 10,123 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $108.50, for a total value of $1,098,345.50. Following the completion of 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. The disclosure for this sale is available in the SEC filing. Insiders sold 313,597 shares of company stock valued at $29,830,515 over the last ninety days.

Institutional Investors Weigh In On Enlight Renewable Energy

A number of institutional investors have recently modified their holdings of ENLT. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Enlight Renewable Energy by 18.2% during the first 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 period. Y.D. More Investments Ltd lifted its holdings in Enlight Renewable Energy by 4.5% in 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 period. Vanguard Group Inc. boosted its position in Enlight Renewable Energy by 11.3% during the fourth 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 last quarter. Altshuler Shaham Ltd boosted its position in Enlight Renewable Energy by 705.5% during the first quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company’s stock valued at $311,645,000 after acquiring an additional 4,127,573 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Enlight Renewable Energy by 2.8% during the 3rd quarter. Legal & General Group Plc now owns 1,920,888 shares of the company’s stock worth $59,253,000 after acquiring an additional 53,103 shares during the period. 38.89% of the stock is owned by institutional investors.

About Enlight Renewable Energy

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.