Enlight Renewable Energy (NASDAQ:ENLT) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Enlight Renewable Energy from sell to hold, adding to a mixed analyst picture for the stock.
• Across coverage, the stock now has an average Hold rating and a consensus target price of $68.14, though some firms remain bullish while others are negative.
• Enlight last reported EPS of $0.16 on $156.49 million in revenue, while the shares recently traded at $90.81—well above the Street’s average target and near the stock’s 52-week high.

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

Other equities analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft set a $65.00 target price on shares of Enlight Renewable Energy and gave the company a "hold" rating in a research report on Thursday, April 9th. Truist Financial initiated coverage on shares of Enlight Renewable Energy in a research note on Monday, July 13th. They issued a "buy" rating and a $106.00 price target for the company. JPMorgan Chase & Co. increased their price objective on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the company an "underweight" rating in a report on Wednesday, May 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. Finally, UBS Group lowered their price objective on shares of Enlight Renewable Energy from $123.00 to $115.00 and set a "buy" rating on the stock in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $68.14.

Enlight Renewable Energy Price Performance

Shares of Enlight Renewable Energy stock opened at $90.81 on Monday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.77 and a quick ratio of 0.77. Enlight Renewable Energy has a 1-year low of $22.95 and a 1-year high of $108.65. The business's fifty day moving average price is $90.83 and its two-hundred day moving average price is $76.07. The company has a market capitalization of $10.77 billion, a P/E ratio of 211.19, a PEG ratio of 24.65 and a beta of 1.66.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share (EPS) for the quarter. The company 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%. As a group, research analysts forecast that Enlight Renewable Energy will post 0.28 EPS for the current year.

Insider Activity

In other news, insider Ilan Goren sold 26,622 shares of Enlight Renewable Energy stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $103.76, for a total value of $2,762,298.72. Following the transaction, the insider owned 42,835 shares of the company's stock, valued at $4,444,559.60. The trade was a 38.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Israeli Ayelet Cohen sold 10,123 shares of Enlight Renewable Energy stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $108.50, for a total transaction of $1,098,345.50. Following the completion of the transaction, the vice president directly owned 20,974 shares in the company, valued at $2,275,679. This represents a 32.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 313,597 shares of company stock valued at $29,830,515 over the last quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc purchased a new stake in shares of Enlight Renewable Energy in the 2nd quarter valued at approximately $34,000. Wealth High Governance Capital Ltda acquired a new stake in Enlight Renewable Energy during the 1st quarter valued at $1,439,000. Wealth High Governance Asset Management Ltda. acquired a new stake in Enlight Renewable Energy during the 1st quarter valued at $1,218,000. Bank of America Corp DE raised its stake in Enlight Renewable Energy by 376.4% during the 1st 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. Finally, Altshuler Shaham Ltd lifted its holdings in shares of Enlight Renewable Energy by 705.5% in the first 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 in the last quarter. 38.89% of the stock is currently owned by institutional investors and hedge funds.

Enlight Renewable Energy Company Profile

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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