Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT) have received a consensus recommendation of “Hold” from the seven research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $43.50.

ENLT has been the subject of a number of research reports. UBS Group lifted their target price on Enlight Renewable Energy to $65.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Mizuho set a $37.00 price target on Enlight Renewable Energy in a research report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $38.00 price objective on shares of Enlight Renewable Energy in a research report on Wednesday, January 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Monday, December 29th. Finally, Barclays reiterated an “overweight” rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th.

Enlight Renewable Energy Stock Down 7.0%

Shares of NASDAQ:ENLT opened at $71.47 on Friday. The company’s fifty day moving average is $64.56 and its two-hundred day moving average is $46.23. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.88 and a current ratio of 0.67. Enlight Renewable Energy has a 1-year low of $14.01 and a 1-year high of $81.28. The stock has a market capitalization of $8.47 billion, a price-to-earnings ratio of 70.07, a price-to-earnings-growth ratio of 10.34 and a beta of 1.29.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.17. The business had revenue of $124.19 million during the quarter, compared to analyst estimates of $146.12 million. Enlight Renewable Energy had a net margin of 22.69% and a return on equity of 7.35%. Equities analysts anticipate that Enlight Renewable Energy will post 0.41 EPS for the current year.

Institutional Trading of Enlight Renewable Energy

A number of institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its stake in Enlight Renewable Energy by 256.1% during the second quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock valued at $28,000 after purchasing an additional 881 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Enlight Renewable Energy in the fourth quarter worth about $56,000. Savant Capital LLC purchased a new position in shares of Enlight Renewable Energy in the fourth quarter worth approximately $241,000. Bank of Montreal Can increased its position in shares of Enlight Renewable Energy by 6.4% in the second quarter. Bank of Montreal Can now owns 11,021 shares of the company’s stock worth $251,000 after acquiring an additional 660 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Enlight Renewable Energy by 6.0% during the second 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 period. 38.89% of the stock is 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.