Enlight Renewable Energy (NASDAQ:ENLT) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Enlight Renewable Energy (NASDAQ:ENLT) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday,Zacks reports.

ENLT has been the topic of a number of other reports. UBS Group dropped 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 increased their price objective on shares of Enlight Renewable Energy from $83.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, July 20th. Wall Street Zen cut 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 note on Friday, September 18th. Finally, Truist Financial dropped their price objective on Enlight Renewable Energy from $106.00 to $104.00 and set a “buy” rating on the stock in a research note on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $74.71.

Enlight Renewable Energy Trading Down 2.2%

Shares of ENLT stock opened at $66.08 on Tuesday. Enlight Renewable Energy has a 1 year low of $32.31 and a 1 year high of $108.65. The firm has a market capitalization of $7.84 billion, a PE ratio of 106.58, a price-to-earnings-growth ratio of 52.84 and a beta of 1.70. The stock has a fifty day moving average of $76.94 and a two-hundred day moving average of $82.83. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.12 and a current ratio of 1.12.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $0.20 EPS for the quarter. Enlight Renewable Energy had a return on equity of 3.52% and a net margin of 12.35%.The company had revenue of $165.99 million for the quarter. As a group, research analysts expect that Enlight Renewable Energy will post 0.35 EPS for the current year.

Insiders Place Their Bets

In other Enlight Renewable Energy news, insider Amit Paz sold 4,329 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $76.57, for a total value of $331,471.53. Following the completion of the transaction, the insider directly owned 279,683 shares in the company, valued at $21,415,327.31. This trade represents a 1.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Nir Yehuda sold 1,276 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $66.40, for a total transaction 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 position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 10,526 shares of company stock worth $755,406 over the last ninety days.

Institutional Trading of Enlight Renewable Energy

A number of hedge funds have recently modified their holdings of ENLT. Bleakley Financial Group LLC acquired a new stake in Enlight Renewable Energy during the 1st quarter worth about $2,397,000. Navellier & Associates Inc. purchased a new stake in Enlight Renewable Energy in the 2nd quarter worth approximately $3,475,000. Clal Insurance Enterprises Holdings Ltd lifted its position in Enlight Renewable Energy by 19.9% in 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. acquired a new stake in shares of Enlight Renewable Energy during the 1st quarter valued at $1,218,000. Finally, Altshuler Shaham Ltd grew its holdings in shares of Enlight Renewable Energy by 41.9% during the 4th quarter. Altshuler Shaham Ltd now owns 585,068 shares of the company’s stock valued at $26,557,000 after acquiring an additional 172,718 shares in the last quarter. Hedge funds and other institutional investors own 38.89% of the company’s stock.

About Enlight Renewable Energy

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.