Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Stock Has Consensus Price Target of $74.71 According to Brokerages

Key Points

• Analysts maintain a consensus “Hold” rating on Enlight Renewable Energy, with four buys, two holds and two sells among eight firms. The average 12-month price target is $74.71.
• Recent analyst actions were mixed: Barclays raised its target to $89, while Truist and UBS lowered theirs to $104 and $115, respectively, although both retained “Buy” ratings.
• Enlight shares opened at $67.58, below their 50-day and 200-day moving averages, while institutional investors own 38.89% of the company. The stock has a $8.01 billion market capitalization and trades at a high price-to-earnings ratio of 109.

Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Get Free Report) has received a consensus recommendation of "Hold" from the eight research firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $74.71.

A number of brokerages have recently commented on ENLT. Barclays raised their price objective 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. 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. Wall Street Zen downgraded Enlight Renewable Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Truist Financial dropped their target price on shares of Enlight Renewable Energy from $106.00 to $104.00 and set a "buy" rating for the company in a report on Monday, September 28th. Finally, UBS Group reduced their target price on shares of 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.

Insider Activity at Enlight Renewable Energy

In other Enlight Renewable Energy news, CFO Nir Yehuda sold 1,276 shares of the firm's stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $66.40, for a total value of $84,726.40. Following the transaction, the chief financial officer directly owned 34,324 shares of the company's stock, valued at $2,279,113.60. This trade represents a 3.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 business's 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 owned 40,135 shares in the company, valued at approximately $2,601,149.35. This represents 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 sold 10,526 shares of company stock valued at $755,406.

Hedge Funds Weigh In On Enlight Renewable Energy

Institutional investors have recently added to or reduced their stakes in the stock. Clal Insurance Enterprises Holdings Ltd grew its holdings in 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 valued at $774,113,000 after buying an additional 1,797,936 shares in the last quarter. Altshuler Shaham Ltd raised its holdings 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 worth $311,645,000 after acquiring an additional 4,127,573 shares during the period. Arrowstreet Capital Limited Partnership boosted 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 acquiring an additional 404,304 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Enlight Renewable Energy by 121.2% in the first quarter. Assenagon Asset Management S.A. now owns 505,792 shares of the company's stock valued at $33,527,000 after purchasing an additional 277,179 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of 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 valued at $32,511,000 after purchasing an additional 376,309 shares during the period. Hedge funds and other institutional investors own 38.89% of the company's stock.

Enlight Renewable Energy Trading Up 2.5%

Shares of Enlight Renewable Energy stock opened at $67.58 on Wednesday. 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 firm has a fifty day moving average price of $77.24 and a 200 day moving average price of $82.91. Enlight Renewable Energy has a 1 year low of $31.61 and a 1 year high of $108.65. The stock has a market cap of $8.01 billion, a PE ratio of 109.00, a price-to-earnings-growth ratio of 51.55 and a beta of 1.70.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.20 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%. Equities research analysts predict that Enlight Renewable Energy will post 0.35 earnings per share for the current year.

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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