Enlight Renewable Energy (NASDAQ:ENLT) Upgraded to “Strong-Buy” at Truist Financial

Truist Financial upgraded shares of Enlight Renewable Energy (NASDAQ:ENLT) to a strong-buy rating in a research note published on Monday morning,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft set a $65.00 target price on shares of Enlight Renewable Energy and gave the stock a “hold” rating in a report on Thursday, April 9th. JPMorgan Chase & Co. upped their price target on Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a report on Wednesday, May 6th. 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 research note on Tuesday, July 7th. Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. Finally, Wall Street Zen cut shares of Enlight Renewable Energy from a “hold” rating to a “sell” rating in a report on Sunday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $68.14.

Enlight Renewable Energy Price Performance

ENLT opened at $90.25 on Monday. The stock’s 50-day moving average price is $90.81 and its 200 day moving average price is $75.10. Enlight Renewable Energy has a 12-month low of $22.95 and a 12-month high of $108.65. The firm has a market cap of $10.70 billion, a price-to-earnings ratio of 209.89, a PEG ratio of 22.52 and a beta of 1.66. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.68.

Enlight Renewable Energy (NASDAQ:ENLT) last released its earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share 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. As a group, sell-side analysts expect that Enlight Renewable Energy will post 0.28 earnings per share for the current year.

Insider Buying and Selling at Enlight Renewable Energy

In related news, Vice Chairman Yair Seroussi sold 12,036 shares of the 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 transaction, the insider directly owned 14,233 shares of the company’s stock, valued at $1,455,181.92. This trade represents a 45.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michal Tzuk sold 2,400 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $105.86, for a total transaction of $254,064.00. Following the completion of the transaction, the director directly 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. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 313,597 shares of company stock worth $29,830,515.

Hedge Funds Weigh In On Enlight Renewable Energy

Several large investors have recently bought and sold shares of ENLT. Zurcher Kantonalbank Zurich Cantonalbank grew 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 acquiring an additional 11,994 shares during the last quarter. Y.D. More Investments Ltd grew its position in 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 worth $264,965,000 after purchasing an additional 252,446 shares during the last quarter. Altshuler Shaham Ltd grew its position in Enlight Renewable Energy by 41.9% during the 4th quarter. Altshuler Shaham Ltd now owns 585,068 shares of the company’s stock worth $26,557,000 after purchasing an additional 172,718 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd increased its stake in Enlight Renewable Energy by 19.9% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 9,890,141 shares of the company’s stock valued at $448,589,000 after purchasing an additional 1,643,110 shares during the period. Finally, Norges Bank purchased a new stake in shares of Enlight Renewable Energy in the fourth quarter valued at about $17,875,000. Institutional investors and hedge funds own 38.89% of the company’s stock.

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.