Enlight Renewable Energy (NASDAQ:ENLT) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Enlight Renewable Energy (NASDAQ:ENLT) from a hold rating to a sell rating in a report released on Saturday morning.

Other equities research analysts have also recently issued reports about the stock. UBS Group reduced their target price on shares of Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Truist Financial started coverage on Enlight Renewable Energy in a research note on Monday, July 13th. They set a “buy” rating and a $106.00 price objective for the company. JPMorgan Chase & Co. lifted their target price 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. Weiss Ratings raised Enlight Renewable Energy from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday. Finally, Barclays upped 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. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Enlight Renewable Energy currently has an average rating of “Hold” and a consensus price target of $75.00.

Enlight Renewable Energy Stock Performance

Shares of Enlight Renewable Energy stock opened at $84.82 on Friday. The firm’s fifty day simple moving average is $88.77 and its 200-day simple moving average is $79.79. The stock has a market capitalization of $10.06 billion, a price-to-earnings ratio of 136.81, a PEG ratio of 82.70 and a beta of 1.68. Enlight Renewable Energy has a 12 month low of $23.30 and a 12 month high of $108.65. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.12 and a quick ratio of 0.77.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $0.20 earnings per share for the quarter. Enlight Renewable Energy had a net margin of 12.35% and a return on equity of 3.52%. The firm had revenue of $165.99 million during the quarter. As a group, equities analysts forecast that Enlight Renewable Energy will post 0.35 earnings per share for the current year.

Insider Buying and Selling at Enlight Renewable Energy

In other Enlight Renewable Energy news, Director Shai Yeshayahu Weil sold 73,436 shares of Enlight Renewable Energy stock in a transaction that occurred on Monday, May 25th. The stock was sold at an average price of $93.68, for a total value of $6,879,484.48. Following the sale, the director owned 396,655 shares of the company’s stock, valued at approximately $37,158,640.40. The trade was a 15.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Gilad Yavetz sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $91.78, for a total value of $9,178,000.00. Following the transaction, the chairman owned 846,436 shares in the company, valued at $77,685,896.08. The trade was a 10.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 287,322 shares of company stock valued at $27,452,472.

Institutional Trading of Enlight Renewable Energy

A number of institutional investors have recently modified their holdings of the business. Versant Capital Management Inc acquired a new position in Enlight Renewable Energy during the second quarter worth $34,000. State of Wyoming acquired a new stake in Enlight Renewable Energy in the first quarter valued at $41,000. BNP Paribas Financial Markets boosted its position in shares of Enlight Renewable Energy by 256.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock worth $28,000 after purchasing an additional 881 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Enlight Renewable Energy during the 4th quarter worth $56,000. Finally, Walleye Capital LLC acquired a new position in shares of Enlight Renewable Energy during the 1st quarter worth $240,000. 38.89% of the stock is currently owned by hedge funds and other institutional investors.

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.