Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Given Average Rating of "Hold" by Analysts

Key Points

• Enlight Renewable Energy has a consensus analyst rating of “Hold” from seven covering firms, with three buys, two holds, and two sells. The average 12-month price target is about $63.17, though individual targets vary widely.
• Recent insider activity has been notable, with Director Yitzhak Betzalel and Vice Chairman Yair Seroussi both selling shares. Insiders sold a total of 313,597 shares worth roughly $29.8 million over the last quarter.
• The stock has been volatile, trading near $95.95 after an 8.2% drop on the day cited in the article. Despite that, the company’s market cap stands at about $11.38 billion, and institutional investors own 38.89% of the shares.

Shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Get Free Report) have received a consensus recommendation of "Hold" from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $63.1667.

Several equities research analysts have recently issued reports on the company. Barclays reaffirmed an "overweight" rating on shares of Enlight Renewable Energy in a research report on Wednesday, February 18th. Mizuho set a $37.00 price target on shares of Enlight Renewable Energy in a report on Monday, February 23rd. JPMorgan Chase & Co. lifted their price target on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an "underweight" rating in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. Finally, UBS Group lifted their price target on shares of Enlight Renewable Energy from $105.00 to $123.00 and gave the stock a "buy" rating in a report on Friday, May 29th.

Insider Buying and Selling

In related news, Director Yitzhak Betzalel sold 2,062 shares of Enlight Renewable Energy stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $103.64, for a total value of $213,705.68. Following the completion of the sale, the director owned 2 shares of the company's stock, valued at approximately $207.28. This trade represents a 99.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Yair Seroussi sold 12,036 shares of Enlight Renewable Energy stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $102.24, for a total value of $1,230,560.64. Following the completion of the sale, the insider directly owned 14,233 shares of the company's stock, valued at approximately $1,455,181.92. This trade represents a 45.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 313,597 shares of company stock worth $29,830,515 in the last quarter.

Institutional Trading of Enlight Renewable Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. Clal Insurance Enterprises Holdings Ltd raised its holdings in 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 acquiring an additional 1,797,936 shares during the period. Y.D. More Investments Ltd raised its holdings in Enlight Renewable Energy by 4.5% during the 4th quarter. Y.D. More Investments Ltd now owns 5,837,263 shares of the company's stock valued at $264,965,000 after acquiring an additional 252,446 shares during the period. Vanguard Group Inc. raised its holdings in Enlight Renewable Energy by 11.3% during the 4th 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 period. Altshuler Shaham Ltd raised its holdings in Enlight Renewable Energy by 705.5% during the 1st 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 period. Finally, Legal & General Group Plc raised 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 valued at $59,253,000 after acquiring an additional 53,103 shares during the period. Institutional investors own 38.89% of the company's stock.

Enlight Renewable Energy Trading Down 8.2%

NASDAQ:ENLT opened at $95.95 on Thursday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market cap of $11.38 billion, a price-to-earnings ratio of 223.14, a price-to-earnings-growth ratio of 37.88 and a beta of 1.56. Enlight Renewable Energy has a 52 week low of $18.22 and a 52 week high of $108.65. The firm has a 50-day moving average price of $84.63 and a two-hundred day moving average price of $65.19.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last announced its earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share (EPS) for the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%.The firm had revenue of $156.49 million during the quarter. On average, equities analysts expect that Enlight Renewable Energy will post 0.29 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.