Enlight Renewable Energy (NASDAQ:ENLT) Rating Lowered to Sell at Wall Street Zen

Enlight Renewable Energy (NASDAQ:ENLT) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday, Wall Street Zen reports.

A number of other analysts have also issued reports on the company. Barclays raised 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. UBS Group dropped their price objective on shares of 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 cut shares of Enlight Renewable Energy from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, September 18th. Zacks Research upgraded shares of Enlight Renewable Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Enlight Renewable Energy from $80.00 to $65.00 and set an “underweight” rating for the company in a research report on Monday, October 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $74.86.

Enlight Renewable Energy Trading Up 1.4%

Shares of Enlight Renewable Energy stock opened at $69.36 on Friday. Enlight Renewable Energy has a fifty-two week low of $32.87 and a fifty-two week high of $108.65. The business’s fifty day moving average is $73.36 and its two-hundred day moving average is $77.12. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.31. The firm has a market cap of $8.22 billion, a PE ratio of 126.63, a P/E/G ratio of 22.57 and a beta of 1.70.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $0.20 EPS for the quarter. The business had revenue of $165.99 million during the quarter. Enlight Renewable Energy had a return on equity of 3.52% and a net margin of 12.35%. Analysts anticipate that Enlight Renewable Energy will post 0.39 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Amit Paz sold 2,221 shares of Enlight Renewable Energy stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $73.94, for a total value of $164,220.74. Following the transaction, the insider directly owned 277,462 shares of the company’s stock, valued at $20,515,540.28. The trade was a 0.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Nir Yehuda sold 1,276 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $66.40, for a total value of $84,726.40. Following the sale, the chief financial officer owned 34,324 shares of the company’s stock, valued at $2,279,113.60. The trade was a 3.58% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 10,526 shares of company stock worth $755,406 over the last three months.

Institutional Trading of Enlight Renewable Energy

A number of institutional investors and hedge funds have recently bought and sold shares of ENLT. Clal Insurance Enterprises Holdings Ltd increased its stake in Enlight Renewable Energy by 18.2% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 11,688,077 shares of the company’s stock worth $774,113,000 after buying an additional 1,797,936 shares during the period. Altshuler Shaham Ltd boosted its position in Enlight Renewable Energy by 705.5% in the 1st quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company’s stock valued at $311,645,000 after buying an additional 4,127,573 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Enlight Renewable Energy by 68.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 995,347 shares of the company’s stock valued at $66,126,000 after buying an additional 404,304 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Enlight Renewable Energy by 376.4% during the first quarter. Bank of America Corp DE now owns 476,289 shares of the company’s stock valued at $32,511,000 after acquiring an additional 376,309 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of Enlight Renewable Energy by 1.3% during the first quarter. Swiss National Bank now owns 264,220 shares of the company’s stock valued at $17,477,000 after acquiring an additional 3,273 shares in the last quarter. Institutional investors and hedge funds own 38.89% of the company’s stock.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd. (NASDAQ: ENLT) is a renewable energy company that develops, finances, constructs, owns and operates clean energy projects. Its activities include utility-scale solar photovoltaic, wind power and energy storage projects.

The company manages projects across multiple stages of the renewable energy lifecycle, from development and permitting through construction and long-term operation. Its portfolio and development activities span Israel, the United States and selected European markets.

Founded in 1988, Enlight is headquartered in Israel and is also listed on the Tel Aviv Stock Exchange.