Shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT – Get Free Report) have received an average rating of “Hold” from the nine brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $74.71.
Several analysts have recently weighed in on ENLT shares. UBS Group dropped their price objective on shares of Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Wall Street Zen downgraded Enlight Renewable Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings lowered Enlight Renewable Energy from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, September 18th. Zacks Research raised Enlight Renewable Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Finally, Truist Financial cut their price objective on Enlight Renewable Energy from $106.00 to $104.00 and set a “buy” rating for the company in a research report on Monday, September 28th.
Check Out Our Latest Report on Enlight Renewable Energy
Enlight Renewable Energy Stock Up 0.4%
Enlight Renewable Energy (NASDAQ:ENLT – Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.20 earnings per share (EPS) for the quarter. The firm had revenue of $165.99 million during the quarter. Enlight Renewable Energy had a net margin of 12.35% and a return on equity of 3.52%. Equities research analysts anticipate that Enlight Renewable Energy will post 0.39 EPS for the current fiscal year.
Insider Activity
In other news, insider Ilan Goren sold 2,700 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $64.81, for a total value of $174,987.00. Following the completion of the sale, the insider directly owned 40,135 shares in the company, valued at approximately $2,601,149.35. This trade represents a 6.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Nir Yehuda sold 1,276 shares of Enlight Renewable Energy stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $66.40, for a total value of $84,726.40. Following the completion of the transaction, the chief financial officer directly owned 34,324 shares of the company’s stock, valued at $2,279,113.60. This represents a 3.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 10,526 shares of company stock worth $755,406.
Hedge Funds Weigh In On Enlight Renewable Energy
Institutional investors have recently modified their holdings of the stock. Bleakley Financial Group LLC bought a new position in Enlight Renewable Energy in the 1st quarter worth approximately $2,397,000. Navellier & Associates Inc. acquired a new position in Enlight Renewable Energy during the 2nd quarter worth $3,475,000. Clal Insurance Enterprises Holdings Ltd lifted its holdings in Enlight Renewable Energy by 19.9% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 9,890,141 shares of the company’s stock worth $448,589,000 after buying an additional 1,643,110 shares in the last quarter. Wealth High Governance Asset Management Ltda. bought a new position in Enlight Renewable Energy in the 1st quarter valued at $1,218,000. Finally, Norges Bank bought a new position in Enlight Renewable Energy in the 4th quarter valued at $17,875,000. 38.89% of the stock is owned by institutional investors.
Enlight Renewable Energy Company Profile
Enlight Renewable Energy Ltd. is a renewable energy company that develops, finances, constructs, owns and operates utility-scale clean energy projects. Its portfolio includes solar photovoltaic, wind energy and energy storage facilities, with activities spanning project development through long-term asset ownership and operations.
The company serves electricity markets in Israel, the United States and several European countries. Its business is focused on expanding renewable generation and storage capacity, often through projects that combine intermittent renewable resources with storage technology to support grid reliability and power delivery.
Enlight was established in Israel and has developed into an international renewable energy platform.
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