Enlight Renewable Energy (NASDAQ:ENLT) Raised to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Enlight Renewable Energy from “sell” to “hold”, contributing to a broader consensus rating of Hold with an average target price of $63.17.
• The stock recently traded at $90.98, above the consensus analyst target, while the company reported $0.16 EPS and $156.49 million in quarterly revenue in its latest earnings release.
• Insider selling has been notable, including recent share sales by the vice chairman and a VP, with insiders selling 313,597 shares worth about $29.8 million over the last three months.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

ENLT has been the subject of several other reports. Mizuho set a $37.00 price objective on Enlight Renewable Energy in a report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft set a $65.00 price objective on Enlight Renewable Energy and gave the stock a "hold" rating in a report on Thursday, April 9th. UBS Group boosted their price objective on Enlight Renewable Energy from $105.00 to $123.00 and gave the stock a "buy" rating in a report on Friday, May 29th. Barclays restated an "overweight" rating on shares of Enlight Renewable Energy in a research report on Wednesday, February 18th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $63.17.

Enlight Renewable Energy Stock Performance

Shares of NASDAQ:ENLT opened at $90.98 on Friday. The stock has a market capitalization of $10.79 billion, a P/E ratio of 211.59, a P/E/G ratio of 34.42 and a beta of 1.56. Enlight Renewable Energy has a 1-year low of $18.22 and a 1-year high of $108.65. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.68. The business has a 50-day moving average price of $85.46 and a two-hundred day moving average price of $65.77.

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

Insider Activity at Enlight Renewable Energy

In other news, Vice Chairman Yair Seroussi sold 22,505 shares of the business's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $90.63, for a total transaction of $2,039,628.15. Following the completion of the transaction, the insider directly owned 14,233 shares in the company, valued at approximately $1,289,936.79. The trade was a 61.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Israeli Ayelet Cohen sold 10,123 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $108.50, for a total value of $1,098,345.50. Following the transaction, the vice president owned 20,974 shares of the company's stock, valued at $2,275,679. The trade was a 32.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 313,597 shares of company stock worth $29,830,515.

Hedge Funds Weigh In On Enlight Renewable Energy

Several institutional investors and hedge funds have recently modified their holdings of ENLT. Altshuler Shaham Ltd grew its position in shares of Enlight Renewable Energy by 705.5% in the 1st quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company's stock valued at $311,645,000 after purchasing an additional 4,127,573 shares during the period. Y.D. More Investments Ltd grew its position in shares of Enlight Renewable Energy by 50.5% in the 3rd quarter. Y.D. More Investments Ltd now owns 5,584,817 shares of the company's stock valued at $172,143,000 after purchasing an additional 1,875,084 shares during the period. Clal Insurance Enterprises Holdings Ltd grew its position in shares of 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 purchasing an additional 1,797,936 shares during the period. Vanguard Group Inc. grew its position in shares of Enlight Renewable Energy by 11.3% in the 4th quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company's stock valued at $225,058,000 after purchasing an additional 503,060 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Enlight Renewable Energy by 68.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 995,347 shares of the company's stock valued at $66,126,000 after purchasing an additional 404,304 shares during the period. 38.89% of the stock is currently owned by institutional investors and hedge funds.

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.

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