Enlight Renewable Energy Ltd. (NASDAQ:ENLT – Get Free Report)’s stock price traded down 4.4% during trading on Wednesday . The stock traded as low as $84.00 and last traded at $84.0110. 61,914 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 168,324 shares. The stock had previously closed at $87.88.
Analysts Set New Price Targets
Several research analysts have commented on the company. Mizuho set a $37.00 price objective on Enlight Renewable Energy in a research report on Monday, February 23rd. Barclays reissued an “overweight” rating on shares of Enlight Renewable Energy in a research report on Wednesday, February 18th. UBS Group raised their price objective on Enlight Renewable Energy from $105.00 to $123.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. Finally, Wall Street Zen raised Enlight Renewable Energy from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $63.17.
View Our Latest Stock Analysis on Enlight Renewable Energy
Enlight Renewable Energy Trading Down 4.5%
Enlight Renewable Energy (NASDAQ:ENLT – Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.16 earnings per share 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. As a group, equities analysts anticipate that Enlight Renewable Energy Ltd. will post 0.29 EPS for the current year.
Insider Activity
In related news, 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 completion of the sale, the vice president directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Meron Carr sold 3,329 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $103.44, for a total value of $344,351.76. Following the sale, the senior vice president owned 42,465 shares in the company, valued at $4,392,579.60. The trade was a 7.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 313,597 shares of company stock worth $29,830,515 over the last quarter.
Institutional Trading of Enlight Renewable Energy
Several institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its stake in Enlight Renewable Energy by 0.3% during the first quarter. Public Employees Retirement System of Ohio now owns 48,095 shares of the company’s stock valued at $3,185,000 after buying an additional 127 shares in the last quarter. Quantinno Capital Management LP raised its stake in Enlight Renewable Energy by 2.7% during the first quarter. Quantinno Capital Management LP now owns 6,506 shares of the company’s stock valued at $435,000 after buying an additional 170 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Enlight Renewable Energy by 0.9% during the fourth quarter. Advisors Asset Management Inc. now owns 26,865 shares of the company’s stock valued at $1,221,000 after buying an additional 251 shares in the last quarter. Mariner LLC raised its stake in Enlight Renewable Energy by 4.1% during the third quarter. Mariner LLC now owns 10,070 shares of the company’s stock valued at $314,000 after buying an additional 396 shares in the last quarter. Finally, State of Wyoming acquired a new stake in Enlight Renewable Energy during the first quarter valued at approximately $41,000. Institutional investors and hedge funds 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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