Enlight Renewable Energy (NASDAQ:ENLT) Reaches New 1-Year High – Time to Buy?

Enlight Renewable Energy Ltd. (NASDAQ:ENLT)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $103.10 and last traded at $102.70, with a volume of 77055 shares changing hands. The stock had previously closed at $92.25.

Enlight Renewable Energy News Roundup

Here are the key news stories impacting Enlight Renewable Energy this week:

• Positive Sentiment: Enlight signed a 200 MW AC solar power purchase agreement with Google to help power data center operations in Oklahoma. The deal is a meaningful win for the company’s U.S. growth strategy and suggests expanding demand for its renewable energy projects. Article Title
• Positive Sentiment: Several reports noted a sharp share-price surge following the Google announcement, reinforcing the view that the contract is the main catalyst behind ENLT’s recent rally. Article Title
• Neutral Sentiment: One valuation-focused note said the stock’s move may have pushed it into overvalued territory by some measures, which could lead investors to be more cautious after the recent run-up. Article Title
• Negative Sentiment: Multiple insiders sold shares this week, including VP Lisa Haimovitz, insider Amit Paz, and reports of additional sales by senior executives. Heavy insider selling can raise concerns that management sees limited near-term upside after the stock’s sharp climb. Article Title

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ENLT shares. Mizuho set a $37.00 price objective on Enlight Renewable Energy in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. Deutsche Bank Aktiengesellschaft set a $65.00 price objective on Enlight Renewable Energy and gave the stock a “hold” rating in a research note on Thursday, April 9th. UBS Group upped their price objective on Enlight Renewable Energy from $93.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Barclays reaffirmed an “overweight” rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $60.17.

Enlight Renewable Energy Stock Performance

The business has a 50 day moving average of $81.80 and a 200 day moving average of $62.85. The company has a market capitalization of $12.32 billion, a P/E ratio of 241.42, a price-to-earnings-growth ratio of 37.52 and a beta of 1.51. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.68.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $0.16 EPS for the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%.The company had revenue of $156.49 million during the quarter. On average, sell-side analysts predict that Enlight Renewable Energy Ltd. will post 0.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Amit Paz sold 3,533 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $97.35, for a total value of $343,937.55. Following the completion of the sale, the insider directly owned 284,012 shares of the company’s stock, valued at $27,648,568.20. This trade represents a 1.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Yitzhak Betzalel sold 2,062 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $103.64, for a total value of $213,705.68. Following the completion of the sale, the director directly owned 2 shares of the company’s stock, valued at $207.28. The trade was a 99.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 279,389 shares of company stock worth $26,250,171.

Institutional Investors Weigh In On Enlight Renewable Energy

Institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Enlight Renewable Energy by 26.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 57,621 shares of the company’s stock valued at $2,618,000 after purchasing an additional 11,994 shares during the last quarter. Y.D. More Investments Ltd raised its holdings in shares of Enlight Renewable Energy by 4.5% in the fourth quarter. Y.D. More Investments Ltd now owns 5,837,263 shares of the company’s stock worth $264,965,000 after buying an additional 252,446 shares during the period. Vanguard Group Inc. raised its holdings in shares of Enlight Renewable Energy by 11.3% in the fourth quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company’s stock worth $225,058,000 after buying an additional 503,060 shares during the period. Citigroup Inc. raised its holdings in shares of Enlight Renewable Energy by 465.1% in the third quarter. Citigroup Inc. now owns 110,153 shares of the company’s stock worth $3,398,000 after buying an additional 90,662 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Enlight Renewable Energy by 61.5% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 22,745 shares of the company’s stock worth $709,000 after purchasing an additional 8,664 shares during the last quarter. 38.89% of the stock is owned by institutional investors.

About Enlight Renewable Energy

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.