Enlight Renewable Energy (NASDAQ:ENLT) Shares Gap Up – Still a Buy?

Enlight Renewable Energy Ltd. (NASDAQ:ENLT)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $82.58, but opened at $86.34. Enlight Renewable Energy shares last traded at $84.8750, with a volume of 67,010 shares.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. JPMorgan Chase & Co. upped their price objective on shares of 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 upped their price objective on shares of Enlight Renewable Energy from $93.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Barclays restated an “overweight” rating on shares of Enlight Renewable Energy in a report on Wednesday, February 18th. Finally, Mizuho set a $37.00 target price on shares of Enlight Renewable Energy in a research report on Monday, February 23rd. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $60.17.

Enlight Renewable Energy Price Performance

The firm has a market cap of $10.20 billion, a price-to-earnings ratio of 200.00, a P/E/G ratio of 25.00 and a beta of 1.51. The business’s 50-day moving average price is $78.84 and its two-hundred day moving average price is $59.96. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.77 and a quick ratio of 0.77.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.16 EPS for the quarter. The business 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%. On average, research analysts forecast that Enlight Renewable Energy Ltd. will post 0.37 EPS for the current fiscal year.

Insider Transactions at Enlight Renewable Energy

In other Enlight Renewable Energy news, CFO Nir Yehuda sold 5,796 shares of Enlight Renewable Energy stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $92.83, for a total value of $538,042.68. Following the completion of the transaction, the chief financial officer directly owned 36,749 shares in the company, valued at $3,411,409.67. The trade was a 13.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Marko Liposcak sold 6,402 shares of Enlight Renewable Energy stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $92.53, for a total value of $592,377.06. Following the completion of the transaction, the insider owned 32,539 shares of the company’s stock, valued at approximately $3,010,833.67. The trade was a 16.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 144,460 shares of company stock valued at $13,242,553 over the last quarter.

Hedge Funds Weigh In On Enlight Renewable Energy

Several institutional investors have recently modified their holdings of ENLT. BNP Paribas Financial Markets grew 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 acquiring an additional 881 shares during the last quarter. State of Wyoming acquired a new position in shares of Enlight Renewable Energy during the first quarter worth approximately $41,000. V Square Quantitative Management LLC acquired a new position in shares of Enlight Renewable Energy during the fourth quarter worth approximately $56,000. Walleye Capital LLC acquired a new position in shares of Enlight Renewable Energy during the first quarter worth approximately $240,000. Finally, Savant Capital LLC acquired a new position in shares of Enlight Renewable Energy during the fourth quarter worth approximately $241,000. 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.