Enlight Renewable Energy (NASDAQ:ENLT – Get Free Report) released its earnings results on Tuesday. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.13, Zacks reports. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%.
Enlight Renewable Energy Stock Performance
ENLT stock traded up $6.42 during midday trading on Tuesday, reaching $89.12. 74,236 shares of the company’s stock traded hands, compared to its average volume of 186,396. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.77 and a current ratio of 0.77. Enlight Renewable Energy has a 52 week low of $22.95 and a 52 week high of $108.65. The firm has a market capitalization of $10.57 billion, a PE ratio of 207.60, a price-to-earnings-growth ratio of 22.93 and a beta of 1.68. The company has a 50-day moving average price of $90.25 and a two-hundred day moving average price of $79.02.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on ENLT shares. Wall Street Zen raised Enlight Renewable Energy from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Barclays lifted their price target on shares of Enlight Renewable Energy from $83.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. JPMorgan Chase & Co. upped their target price on Enlight Renewable Energy from $57.00 to $68.00 and gave the company an “underweight” rating in a report on Wednesday, May 6th. Truist Financial initiated coverage on Enlight Renewable Energy in a research report on Monday, July 13th. They set a “buy” rating and a $106.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft set a $65.00 price objective on shares of Enlight Renewable Energy and gave the company a “hold” rating in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $75.00.
Insider Buying and Selling
In related news, insider Ilan Goren sold 26,622 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $103.76, for a total transaction of $2,762,298.72. Following the completion of the transaction, the insider owned 42,835 shares of the company’s stock, valued at approximately $4,444,559.60. The trade was a 38.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 transaction of $6,879,484.48. Following the completion of the sale, the director owned 396,655 shares in the company, valued at $37,158,640.40. This represents a 15.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 313,597 shares of company stock valued at $29,830,515 in the last three months.
Institutional Investors Weigh In On Enlight Renewable Energy
Several large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its stake in Enlight Renewable Energy by 256.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock worth $28,000 after acquiring an additional 881 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Enlight Renewable Energy by 6.0% during the 2nd quarter. Jane Street Group LLC now owns 11,366 shares of the company’s stock valued at $258,000 after acquiring an additional 641 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of Enlight Renewable Energy during the fourth quarter worth about $277,000. AQR Capital Management LLC purchased a new position in shares of Enlight Renewable Energy during the fourth quarter worth about $283,000. Finally, Mariner LLC increased its position in shares of Enlight Renewable Energy by 4.1% in the third quarter. Mariner LLC now owns 10,070 shares of the company’s stock worth $314,000 after purchasing an additional 396 shares during the last quarter. 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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