Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Stock Now Rated "Hold" by Sell-Side Analysts

Key Points

• Analysts have a consensus “Hold” rating on Enlight Renewable Energy, with four buys, two holds, two sells and one strong buy. The average 12-month price target is $74.86.
• Recent analyst views were mixed: Mizuho downgraded the stock to “underperform” and cut its target to $41, while Truist and Barclays maintained bullish ratings with targets of $104 and $89, respectively.
• ENLT opened at $66.31, below its 50-day and 200-day moving averages, and reported quarterly revenue of $165.99 million with EPS of $0.20. Insiders sold shares primarily to cover tax obligations, while institutional investors own 38.89% of the company.

Shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Get Free Report) have earned a consensus rating of "Hold" from the nine analysts that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $74.86.

Several analysts have commented on the company. Weiss Ratings downgraded Enlight Renewable Energy from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, September 18th. Wall Street Zen cut Enlight Renewable Energy from a "hold" rating to a "sell" rating in a research note on Sunday, October 25th. Mizuho lowered their price target on Enlight Renewable Energy from $45.00 to $41.00 and set an "underperform" rating on the stock in a report on Tuesday, October 13th. Truist Financial lowered their price target on Enlight Renewable Energy from $106.00 to $104.00 and set a "buy" rating on the stock in a report on Monday, September 28th. Finally, Barclays increased their price objective on Enlight Renewable Energy from $83.00 to $89.00 and gave the company an "overweight" rating in a research report on Monday, July 20th.

Insider Buying and Selling at Enlight Renewable Energy

In other news, insider Ilan Goren sold 2,700 shares of the firm's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $64.81, for a total transaction of $174,987.00. Following the sale, the insider owned 40,135 shares of the company's stock, valued at $2,601,149.35. This trade represents a 6.30% decrease in their position. The sale was disclosed in a legal 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, CFO Nir Yehuda sold 1,276 shares of Enlight Renewable Energy 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 owned 34,324 shares of the company's stock, valued at $2,279,113.60. This represents a 3.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 10,526 shares of company stock worth $755,406.

Institutional Investors Weigh In On Enlight Renewable Energy

Large investors have recently added to or reduced their stakes in the stock. Clal Insurance Enterprises Holdings Ltd grew its position in 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 valued at $774,113,000 after buying an additional 1,797,936 shares during the period. Altshuler Shaham Ltd raised its position in Enlight Renewable Energy by 705.5% in 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 position in Enlight Renewable Energy by 68.4% in 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. Bank of America Corp DE raised its position 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 period. Finally, Swiss National Bank boosted its stake in shares of Enlight Renewable Energy by 1.3% during the 1st quarter. Swiss National Bank now owns 264,220 shares of the company's stock worth $17,477,000 after acquiring an additional 3,273 shares during the last quarter. Institutional investors own 38.89% of the company's stock.

Enlight Renewable Energy Stock Performance

Shares of ENLT stock opened at $66.31 on Friday. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of 106.95, a price-to-earnings-growth ratio of 21.88 and a beta of 1.70. 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 has a one year low of $32.87 and a one year high of $108.65. The company's 50-day moving average is $72.02 and its 200 day moving average is $77.57.

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

About Enlight Renewable Energy

Enlight Renewable Energy Ltd. NASDAQ: ENLT is a renewable energy company that develops, finances, constructs, owns and operates clean energy projects. Its activities include utility-scale solar photovoltaic, wind power and energy storage projects.

The company manages projects across multiple stages of the renewable energy lifecycle, from development and permitting through construction and long-term operation. Its portfolio and development activities span Israel, the United States and selected European markets.

Founded in 1988, Enlight is headquartered in Israel and is also listed on the Tel Aviv Stock Exchange.

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