Shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT – Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $96.44, but opened at $91.43. Enlight Renewable Energy shares last traded at $89.7840, with a volume of 72,869 shares trading hands.
Analyst Upgrades and Downgrades
ENLT has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. UBS Group increased their price target on Enlight Renewable Energy from $105.00 to $123.00 and gave the company a “buy” rating in a report on Friday, May 29th. Deutsche Bank Aktiengesellschaft set a $65.00 price target on Enlight Renewable Energy and gave the company a “hold” rating in a report on Thursday, April 9th. Barclays reissued an “overweight” rating on shares of Enlight Renewable Energy in a report on Wednesday, February 18th. Finally, Wall Street Zen raised Enlight Renewable Energy from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $63.17.
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Enlight Renewable Energy Price Performance
Enlight Renewable Energy (NASDAQ:ENLT – Get Free Report) last released its earnings results on Tuesday, March 31st. The company reported $0.16 EPS for the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%.The company had revenue of $156.49 million for the quarter. Sell-side analysts anticipate that Enlight Renewable Energy Ltd. will post 0.29 earnings per share for the current year.
Insider Activity at Enlight Renewable Energy
In other Enlight Renewable Energy news, insider Ilan Goren sold 26,622 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $103.76, for a total transaction 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. This trade represents a 38.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Shai Yeshayahu Weil sold 73,436 shares of the stock in a transaction that occurred on Monday, May 25th. The stock was sold at an average price of $93.68, for a total value of $6,879,484.48. Following the transaction, the director directly owned 396,655 shares in the company, valued at approximately $37,158,640.40. This represents a 15.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 313,597 shares of company stock worth $29,830,515 over the last quarter.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its holdings 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 worth $32,511,000 after buying an additional 376,309 shares during the last quarter. Altshuler Shaham Ltd lifted 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 worth $311,645,000 after buying an additional 4,127,573 shares during the last quarter. Amundi lifted its holdings in Enlight Renewable Energy by 13.8% during the 1st quarter. Amundi now owns 248,834 shares of the company’s stock worth $16,985,000 after buying an additional 30,126 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of Enlight Renewable Energy by 2.7% during the 1st quarter. Quantinno Capital Management LP now owns 6,506 shares of the company’s stock worth $435,000 after purchasing an additional 170 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in shares of Enlight Renewable Energy during the 1st quarter worth approximately $2,305,000. Institutional investors own 38.89% of the company’s stock.
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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