Brokerages Set Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Price Target at $75.00

Shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT) have been assigned a consensus recommendation of “Hold” from the eight analysts that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $75.00.

A number of research firms have commented on ENLT. UBS Group reduced their price target on shares of Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Barclays raised their price objective 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. Deutsche Bank Aktiengesellschaft set a $65.00 target price on shares of Enlight Renewable Energy and gave the company a “hold” rating in a research note on Thursday, April 9th. JPMorgan Chase & Co. boosted their target price on Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen upgraded Enlight Renewable Energy from a “sell” rating to a “hold” rating in a research report on Monday, July 20th.

Enlight Renewable Energy Price Performance

Shares of NASDAQ ENLT opened at $87.00 on Friday. The stock has a market cap of $10.32 billion, a PE ratio of 202.33, a PEG ratio of 23.62 and a beta of 1.66. The business has a fifty day moving average of $90.68 and a two-hundred day moving average of $77.57. Enlight Renewable Energy has a 52-week low of $22.95 and a 52-week high of $108.65. 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 (NASDAQ:ENLT) last posted its earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share for the quarter. The business had revenue of $156.49 million for the quarter. Enlight Renewable Energy had a net margin of 9.47% and a return on equity of 2.48%. As a group, equities research analysts expect that Enlight Renewable Energy will post 0.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Enlight Renewable Energy news, Director Shai Yeshayahu Weil sold 73,436 shares of the business’s stock in a transaction 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 owned 396,655 shares of the company’s stock, valued at approximately $37,158,640.40. The trade was a 15.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Israeli Ayelet Cohen sold 10,123 shares of the stock in a transaction on 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 sale, the vice president owned 20,974 shares in the company, valued at $2,275,679. The trade was a 32.55% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 313,597 shares of company stock valued at $29,830,515.

Institutional Investors Weigh In On Enlight Renewable Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its position in shares of Enlight Renewable Energy by 256.1% during the second quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock worth $28,000 after purchasing an additional 881 shares during the period. Versant Capital Management Inc acquired a new stake in Enlight Renewable Energy during the 2nd quarter worth approximately $34,000. State of Wyoming acquired a new stake in Enlight Renewable Energy during the 1st quarter worth approximately $41,000. V Square Quantitative Management LLC bought a new position in Enlight Renewable Energy in the fourth quarter valued at approximately $56,000. Finally, Walleye Capital LLC bought a new position in Enlight Renewable Energy in the first quarter valued at approximately $240,000. 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.