Enlight Renewable Energy (NASDAQ:ENLT) Cut to “Sell” at Wall Street Zen

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

Several other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 6th. Truist Financial initiated coverage on Enlight Renewable Energy in a research note on Monday, July 13th. They set a “buy” rating and a $106.00 target price on the stock. Barclays lifted their price target on Enlight Renewable Energy from $83.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. Weiss Ratings upgraded Enlight Renewable Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 4th. Finally, UBS Group reduced their price target 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. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $75.00.

Enlight Renewable Energy Price Performance

Shares of ENLT opened at $80.98 on Friday. The firm has a market capitalization of $9.60 billion, a PE ratio of 130.61, a PEG ratio of 66.31 and a beta of 1.68. The company’s 50-day moving average is $88.29 and its 200-day moving average is $80.19. Enlight Renewable Energy has a fifty-two week low of $23.95 and a fifty-two week 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 1.12.

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

Insider Transactions at Enlight Renewable Energy

In other news, Director Shai Yeshayahu Weil sold 73,436 shares of the company’s stock in a transaction on Monday, May 25th. The stock was sold at an average price of $93.68, for a total transaction of $6,879,484.48. Following the completion of the sale, the director directly owned 396,655 shares in the company, valued at approximately $37,158,640.40. This represents a 15.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ilan Goren sold 26,622 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $103.76, for a total value of $2,762,298.72. Following the sale, the insider directly owned 42,835 shares in the company, valued at approximately $4,444,559.60. This trade represents a 38.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 271,241 shares of company stock worth $25,962,214.

Institutional Investors Weigh In On Enlight Renewable Energy

A number of large investors have recently bought and sold shares of ENLT. Versant Capital Management Inc bought a new position in Enlight Renewable Energy in the 2nd quarter valued at about $34,000. State of Wyoming bought a new stake in shares of Enlight Renewable Energy during the 1st quarter worth approximately $41,000. BNP Paribas Financial Markets lifted its holdings 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 acquiring an additional 881 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Enlight Renewable Energy during the 4th quarter worth approximately $56,000. Finally, Walleye Capital LLC acquired a new stake in shares of Enlight Renewable Energy during the 1st quarter worth approximately $240,000. 38.89% of the stock is currently owned by institutional investors and hedge funds.

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.