Enlight Renewable Energy (NASDAQ:ENLT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Enlight Renewable Energy (NASDAQ:ENLT) from a sell rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

A number of other research firms also recently issued reports on ENLT. Weiss Ratings downgraded 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 research report on Tuesday, October 6th. Mizuho dropped their price target on Enlight Renewable Energy from $45.00 to $41.00 and set an “underperform” rating on the stock in a research report on Tuesday, October 13th. Barclays increased their price target on Enlight Renewable Energy from $83.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. Finally, UBS Group decreased their price objective on Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $74.86.

Enlight Renewable Energy Stock Down 2.4%

Enlight Renewable Energy stock opened at $68.03 on Friday. Enlight Renewable Energy has a twelve month low of $32.75 and a twelve month high of $108.65. The firm has a 50 day moving average price of $74.43 and a 200-day moving average price of $82.76. The company has a market capitalization of $8.07 billion, a P/E ratio of 129.04, a P/E/G ratio of 23.19 and a beta of 1.70. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.31.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.20 EPS for the quarter. Enlight Renewable Energy had a net margin of 12.35% and a return on equity of 3.52%. The company had revenue of $165.99 million for the quarter. As a group, equities analysts predict that Enlight Renewable Energy will post 0.39 EPS for the current year.

Insider Activity at Enlight Renewable Energy

In related news, CFO Nir Yehuda sold 1,276 shares of the firm’s stock in a transaction that occurred on 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 approximately $2,279,113.60. This trade represents a 3.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Amit Paz sold 2,221 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $73.94, for a total transaction of $164,220.74. Following the completion of the transaction, the insider directly owned 277,462 shares of the company’s stock, valued at approximately $20,515,540.28. This trade represents a 0.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 10,526 shares of company stock worth $755,406.

Institutional Investors Weigh In On Enlight Renewable Energy

Several institutional investors have recently made changes to their positions in ENLT. Clal Insurance Enterprises Holdings Ltd grew its holdings in Enlight Renewable Energy by 18.2% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 11,688,077 shares of the company’s stock valued at $774,113,000 after buying an additional 1,797,936 shares in the last quarter. Altshuler Shaham Ltd lifted its holdings in shares of Enlight Renewable Energy by 705.5% in the first quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company’s stock worth $311,645,000 after buying an additional 4,127,573 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Enlight Renewable Energy by 68.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 995,347 shares of the company’s stock worth $66,126,000 after buying an additional 404,304 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Enlight Renewable Energy by 121.2% in the first quarter. Assenagon Asset Management S.A. now owns 505,792 shares of the company’s stock worth $33,527,000 after buying an additional 277,179 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Enlight Renewable Energy by 376.4% in the first quarter. Bank of America Corp DE now owns 476,289 shares of the company’s stock valued at $32,511,000 after acquiring an additional 376,309 shares during the period. Hedge funds and other institutional investors own 38.89% of the company’s stock.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd. (NASDAQ: ENLT) is a renewable energy company that develops, finances, constructs, owns and operates clean energy projects. Its activities include utility-scale solar photovoltaic, wind power and energy storage projects.

The company manages projects across multiple stages of the renewable energy lifecycle, from development and permitting through construction and long-term operation. Its portfolio and development activities span Israel, the United States and selected European markets.

Founded in 1988, Enlight is headquartered in Israel and is also listed on the Tel Aviv Stock Exchange.