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

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) has been assigned an average rating of “Hold” from the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $75.00.

A number of research firms have commented on ENLT. Barclays raised their target price on shares of Enlight Renewable Energy from $83.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. increased their price target on Enlight Renewable Energy from $57.00 to $68.00 and gave the company an “underweight” rating in a research note on Wednesday, May 6th. UBS Group lowered 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 research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft set a $65.00 target price on Enlight Renewable Energy and gave the stock a “hold” rating in a report on Thursday, April 9th. Finally, Truist Financial began coverage on shares of Enlight Renewable Energy in a report on Monday, July 13th. They issued a “buy” rating and a $106.00 price target on the stock.

Insider Activity at Enlight Renewable Energy

In other Enlight Renewable Energy news, Vice Chairman Yair Seroussi sold 12,036 shares of Enlight Renewable Energy stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $102.24, for a total value of $1,230,560.64. Following the completion of the transaction, the insider owned 14,233 shares of the company’s stock, valued at approximately $1,455,181.92. The trade was a 45.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michal Tzuk sold 2,400 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $105.86, for a total value of $254,064.00. Following the sale, the director owned 2,712 shares in the company, valued at $287,092.32. This trade represents a 46.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 313,597 shares of company stock valued at $29,830,515 in the last quarter.

Institutional Investors Weigh In On Enlight Renewable Energy

Large investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Enlight Renewable Energy by 26.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 57,621 shares of the company’s stock worth $2,618,000 after purchasing an additional 11,994 shares in the last quarter. Bleakley Financial Group LLC acquired a new stake in Enlight Renewable Energy during the first quarter worth about $2,397,000. Y.D. More Investments Ltd raised its position in shares of Enlight Renewable Energy by 4.5% during the 4th quarter. Y.D. More Investments Ltd now owns 5,837,263 shares of the company’s stock valued at $264,965,000 after buying an additional 252,446 shares during the period. Altshuler Shaham Ltd raised its position in Enlight Renewable Energy by 41.9% in the fourth quarter. Altshuler Shaham Ltd now owns 585,068 shares of the company’s stock valued at $26,557,000 after purchasing an additional 172,718 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings 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 valued at $448,589,000 after buying an additional 1,643,110 shares during the period. 38.89% of the stock is currently owned by hedge funds and other institutional investors.

Enlight Renewable Energy Trading Up 5.9%

NASDAQ ENLT opened at $85.78 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.68. The stock has a market cap of $10.17 billion, a PE ratio of 199.49, a PEG ratio of 22.00 and a beta of 1.66. The company’s 50-day moving average price is $90.60 and its 200-day moving average price is $78.57. Enlight Renewable Energy has a 12 month low of $22.95 and a 12 month high of $108.65.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share (EPS) for the quarter. The firm had revenue of $156.49 million during the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%. Equities research analysts forecast that Enlight Renewable Energy will post 0.28 earnings per share for the current year.

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.