Enlight Renewable Energy (NASDAQ:ENLT) Stock Rating Upgraded by Truist Financial

Enlight Renewable Energy (NASDAQ:ENLT) was upgraded by equities researchers at Truist Financial to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Enlight Renewable Energy from a “hold” rating to a “sell” rating in a report on Sunday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. JPMorgan Chase & Co. lifted their price objective 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 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. Finally, Deutsche Bank Aktiengesellschaft set a $65.00 target price on Enlight Renewable Energy and gave the stock a “hold” rating in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Enlight Renewable Energy has a consensus rating of “Hold” and a consensus price target of $68.14.

Enlight Renewable Energy Trading Up 8.8%

Shares of NASDAQ:ENLT opened at $90.25 on Monday. 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 has a 52-week low of $22.95 and a 52-week high of $108.65. The stock 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 business has a 50-day moving average price of $90.81 and a 200-day moving average price of $75.10.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its 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 firm had revenue of $156.49 million for the quarter. Equities analysts predict that Enlight Renewable Energy will post 0.28 EPS for the current year.

Insiders Place Their Bets

In related news, Director Michal Tzuk sold 2,400 shares of Enlight Renewable Energy stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $105.86, for a total transaction of $254,064.00. Following the transaction, the director owned 2,712 shares in the company, valued at approximately $287,092.32. This trade represents a 46.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Yitzhak Betzalel sold 2,062 shares of the company’s stock in a transaction 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 owned 2 shares of the company’s stock, valued at approximately $207.28. The trade was a 99.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 313,597 shares of company stock valued at $29,830,515.

Institutional Trading of Enlight Renewable Energy

Several institutional investors have recently made changes to their positions in ENLT. Amundi grew its position in Enlight Renewable Energy by 2.3% in the first quarter. Amundi now owns 74,681 shares of the company’s stock worth $1,160,000 after acquiring an additional 1,647 shares during the period. Geode Capital Management LLC increased its position in shares of Enlight Renewable Energy by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 108,157 shares of the company’s stock worth $2,458,000 after purchasing an additional 773 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Enlight Renewable Energy in the 2nd quarter valued at about $815,000. First Trust Advisors LP lifted its position in Enlight Renewable Energy by 9.6% in the second quarter. First Trust Advisors LP now owns 70,516 shares of the company’s stock valued at $1,600,000 after buying an additional 6,201 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Enlight Renewable Energy by 9.7% during the second quarter. Canada Pension Plan Investment Board now owns 279,789 shares of the company’s stock worth $6,348,000 after buying an additional 24,653 shares during the period. Hedge funds and other institutional investors 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.