Enlight Renewable Energy (NASDAQ:ENLT) Cut to Sell at 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 Sunday morning,Wall Street Zen reports.

Several other research firms have also recently weighed in on ENLT. JPMorgan Chase & Co. cut their price objective 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. Mizuho decreased their target price on shares of Enlight Renewable Energy from $45.00 to $41.00 and set an “underperform” rating on the stock in a report on Tuesday, October 13th. Weiss Ratings lowered shares of Enlight Renewable Energy from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, September 18th. Barclays boosted their target price on shares of Enlight Renewable Energy from $83.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. Finally, UBS Group cut their price target 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. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Enlight Renewable Energy currently has an average rating of “Hold” and an average price target of $74.86.

Enlight Renewable Energy Stock Up 5.7%

Shares of NASDAQ ENLT opened at $73.30 on Friday. The business has a fifty day moving average price of $72.84 and a two-hundred day moving average price of $77.33. Enlight Renewable Energy has a fifty-two week low of $32.87 and a fifty-two week high of $108.65.

Enlight Renewable Energy (NASDAQ:ENLT) last released its earnings results on Tuesday, June 30th. The company reported $0.20 earnings per share (EPS) for the quarter. The company had revenue of $165.99 million for the quarter. As a group, equities analysts anticipate that Enlight Renewable Energy will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Nir Yehuda sold 1,276 shares of Enlight Renewable Energy stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $66.40, for a total value of $84,726.40. Following the transaction, the chief financial officer directly owned 34,324 shares of the company’s stock, valued at $2,279,113.60. The trade was a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ilan Goren sold 2,700 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $64.81, for a total transaction of $174,987.00. Following the completion of the transaction, the insider owned 40,135 shares in the company, valued at $2,601,149.35. This trade represents a 6.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 10,526 shares of company stock valued at $755,406 over the last 90 days.

Institutional Trading of Enlight Renewable Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENLT. GAMMA Investing LLC bought a new stake in shares of Enlight Renewable Energy during the third quarter worth about $59,000. Versant Capital Management Inc boosted its holdings in Enlight Renewable Energy by 105.9% during the 3rd quarter. Versant Capital Management Inc now owns 801 shares of the company’s stock worth $55,000 after acquiring an additional 412 shares during the last quarter. Tidal Investments LLC boosted its holdings in Enlight Renewable Energy by 9.8% during the 2nd quarter. Tidal Investments LLC now owns 27,273 shares of the company’s stock worth $2,428,000 after acquiring an additional 2,427 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of Enlight Renewable Energy in the 2nd quarter worth $26,000. Finally, Navellier & Associates Inc. bought a new stake in shares of Enlight Renewable Energy in the 2nd quarter worth $3,475,000. 38.89% of the stock is owned by institutional investors.

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.