Enlight Renewable Energy (NASDAQ:ENLT) Stock Price Target Lowered at Mizuho

Key Points

• Mizuho lowered Enlight Renewable Energy’s price target to $41 from $45 and maintained an “underperform” rating, implying roughly 40% downside from the stock’s $68.70 opening price.
• Analyst opinions remain mixed: the stock has an average “hold” rating and a consensus price target of $75.29, while recent targets and recommendations range from bullish “strong buy” and “buy” ratings to downgrades and “sell” calls.
• Enlight reported quarterly EPS of $0.20 on $165.99 million in revenue, while institutional investors own 38.89% of the company. Insiders sold 10,526 shares worth approximately $755,000 over the past three months, primarily to cover tax obligations tied to equity awards.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) had its target price cut by Mizuho from $45.00 to $41.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an "underperform" rating on the stock. Mizuho's price target would suggest a potential downside of 40.32% from the company's current price.

A number of other analysts also recently weighed in on ENLT. Weiss Ratings downgraded shares of Enlight Renewable Energy from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, September 18th. Barclays lifted their price target on shares of Enlight Renewable Energy from $83.00 to $89.00 and gave the stock an "overweight" rating in a research note on Monday, July 20th. Zacks Research raised shares of Enlight Renewable Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 6th. Truist Financial reduced their price objective on shares of Enlight Renewable Energy from $106.00 to $104.00 and set a "buy" rating on the stock in a research note on Monday, September 28th. Finally, UBS Group reduced their price objective on shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Enlight Renewable Energy has an average rating of "Hold" and an average price target of $75.29.

Enlight Renewable Energy Trading Up 1.9%

Shares of ENLT opened at $68.70 on Tuesday. Enlight Renewable Energy has a one year low of $32.75 and a one year high of $108.65. The stock has a 50-day moving average price of $75.95 and a 200 day moving average price of $82.72. 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 $8.15 billion, a P/E ratio of 110.81, a P/E/G ratio of 22.44 and a beta of 1.70.

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

Insider Activity at Enlight Renewable Energy

In other Enlight Renewable Energy news, CFO Nir Yehuda sold 1,276 shares of the company's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $66.40, for a total transaction of $84,726.40. Following the sale, the chief financial officer owned 34,324 shares in the company, valued at $2,279,113.60. This represents a 3.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ilan Goren sold 2,700 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $64.81, for a total value of $174,987.00. Following the transaction, the insider directly owned 40,135 shares in the company, valued at approximately $2,601,149.35. This represents a 6.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 10,526 shares of company stock valued at $755,406 over the last three months.

Hedge Funds Weigh In On Enlight Renewable Energy

A number of hedge funds have recently added to or reduced their stakes in the business. Clal Insurance Enterprises Holdings Ltd grew its position in shares of Enlight Renewable Energy by 18.2% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 11,688,077 shares of the company's stock valued at $774,113,000 after buying an additional 1,797,936 shares during the last quarter. Altshuler Shaham Ltd raised its stake 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 worth $311,645,000 after acquiring an additional 4,127,573 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Enlight Renewable Energy by 68.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 995,347 shares of the company's stock worth $66,126,000 after acquiring an additional 404,304 shares during the period. Assenagon Asset Management S.A. raised its stake in Enlight Renewable Energy by 121.2% during the first quarter. Assenagon Asset Management S.A. now owns 505,792 shares of the company's stock worth $33,527,000 after acquiring an additional 277,179 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Enlight Renewable Energy by 376.4% in the first quarter. Bank of America Corp DE now owns 476,289 shares of the company's stock worth $32,511,000 after acquiring an additional 376,309 shares during the last quarter. Institutional investors and hedge funds own 38.89% of the company's stock.

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.

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