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

Enlight Renewable Energy (NASDAQ:ENLT) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Sunday.

Several other brokerages have also recently commented on ENLT. Deutsche Bank Aktiengesellschaft set a $65.00 target price on Enlight Renewable Energy and gave the stock a “hold” rating in a report on Thursday, April 9th. UBS Group lowered their price target on Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. JPMorgan Chase & Co. boosted their price objective on Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Enlight Renewable Energy presently has an average rating of “Hold” and an average price target of $61.83.

Enlight Renewable Energy Price Performance

ENLT stock traded up $0.71 during trading on Friday, hitting $82.21. The company had a trading volume of 129,351 shares, compared to its average volume of 275,643. The business has a 50 day moving average of $90.97 and a 200 day moving average of $74.31. The firm has a market capitalization of $9.75 billion, a price-to-earnings ratio of 191.19, a P/E/G ratio of 22.32 and a beta of 1.66. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.68. Enlight Renewable Energy has a fifty-two week low of $22.95 and a fifty-two week high of $108.65.

Enlight Renewable Energy (NASDAQ:ENLT) last released its earnings results on Tuesday, March 31st. The company reported $0.16 EPS for the quarter. Enlight Renewable Energy had a net margin of 9.47% and a return on equity of 2.48%. The firm had revenue of $156.49 million for the quarter. As a group, research analysts predict that Enlight Renewable Energy will post 0.28 earnings per share for the current year.

Insider Transactions at Enlight Renewable Energy

In other Enlight Renewable Energy news, VP Israeli Ayelet Cohen sold 10,123 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $108.50, for a total value of $1,098,345.50. Following the transaction, the vice president owned 20,974 shares of the company’s stock, valued at approximately $2,275,679. This represents a 32.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Shai Yeshayahu Weil sold 73,436 shares of the stock in a transaction on Monday, May 25th. The shares were 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 $37,158,640.40. This trade represents a 15.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 313,597 shares of company stock valued at $29,830,515 in the last 90 days.

Institutional Investors Weigh In On Enlight Renewable Energy

Several hedge funds have recently modified their holdings of ENLT. Versant Capital Management Inc acquired a new position in shares of Enlight Renewable Energy in the 2nd quarter valued at $34,000. Wealth High Governance Capital Ltda purchased a new stake in Enlight Renewable Energy during the first quarter valued at about $1,439,000. Wealth High Governance Asset Management Ltda. purchased a new stake in Enlight Renewable Energy during the first quarter valued at about $1,218,000. Bank of America Corp DE boosted its holdings in shares of Enlight Renewable Energy by 376.4% in the first quarter. Bank of America Corp DE now owns 476,289 shares of the company’s stock worth $32,511,000 after buying an additional 376,309 shares during the period. Finally, Altshuler Shaham Ltd boosted its holdings in shares of Enlight Renewable Energy by 705.5% in the first quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company’s stock worth $311,645,000 after buying an additional 4,127,573 shares during the period. 38.89% of the stock is owned by hedge funds and other institutional investors.

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.