Enlight Renewable Energy (NASDAQ:ENLT) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Enlight Renewable Energy from “sell” to “hold.” Analyst opinions remain mixed, but the consensus rating is “hold” with an average price target of $75.29.
• Enlight reported quarterly EPS of $0.20 on revenue of $165.99 million. The stock opened at $69.68, well below its 52-week high of $108.65, and carries a high price-to-earnings ratio of 129.74.
• Insiders have sold 10,526 shares worth approximately $755,406 over the past 90 days, while institutional investors own 38.89% of the company. CFO Nir Yehuda’s latest sale was attributed to tax withholding obligations tied to vested equity awards.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday, Wall Street Zen reports.

Other equities research analysts have also recently issued reports about the company. UBS Group reduced their target price on Enlight Renewable Energy from $123.00 to $115.00 and set a "buy" rating on the stock in a report on Tuesday, July 7th. Weiss Ratings lowered Enlight Renewable Energy from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, September 18th. Zacks Research upgraded Enlight Renewable Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 6th. Mizuho reduced their price objective on Enlight Renewable Energy from $45.00 to $41.00 and set an "underperform" rating on the stock in a research note on Tuesday. Finally, Barclays lifted their price objective on Enlight Renewable Energy from $83.00 to $89.00 and gave the stock an "overweight" rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $75.29.

Enlight Renewable Energy Stock Performance

ENLT opened at $69.68 on Friday. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of 129.74, a PEG ratio of 23.32 and a beta of 1.70. The company has a fifty day moving average of $74.69 and a 200 day moving average of $82.63. Enlight Renewable Energy has a fifty-two week low of $32.75 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.

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

Insider Activity at Enlight Renewable Energy

In related news, CFO Nir Yehuda sold 1,276 shares of the firm'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 completion of the sale, the chief financial officer directly owned 34,324 shares of the company's stock, valued at approximately $2,279,113.60. This trade represents a 3.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 10,526 shares of company stock worth $755,406.

Institutional Trading of Enlight Renewable Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Clal Insurance Enterprises Holdings Ltd lifted 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 purchasing an additional 1,797,936 shares during the last quarter. Altshuler Shaham Ltd increased its stake in Enlight Renewable Energy by 705.5% in the 1st quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company's stock worth $311,645,000 after buying an additional 4,127,573 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Enlight Renewable Energy by 68.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 995,347 shares of the company's stock worth $66,126,000 after buying an additional 404,304 shares during the period. Assenagon Asset Management S.A. increased its stake in Enlight Renewable Energy by 121.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 505,792 shares of the company's stock worth $33,527,000 after buying an additional 277,179 shares during the period. Finally, Bank of America Corp DE increased its stake in Enlight Renewable Energy by 376.4% in the 1st quarter. Bank of America Corp DE now owns 476,289 shares of the company's stock worth $32,511,000 after buying an additional 376,309 shares during the period. Hedge funds and other institutional investors own 38.89% of the company's stock.

About Enlight Renewable Energy

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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