Enlight Renewable Energy (NASDAQ:ENLT) Stock Gets Price Target Cut from JPMorgan Chase & Co.

Enlight Renewable Energy (NASDAQ:ENLT) had its target price reduced by JPMorgan Chase & Co. from $80.00 to $65.00 in a research note released on Monday morning,Benzinga reports. They currently have an underweight rating on the stock.

ENLT has been the subject of a number of other reports. Wall Street Zen upgraded shares of Enlight Renewable Energy from a “sell” rating to a “hold” rating in a research note on Saturday, October 17th. 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 target on Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Mizuho cut their price objective on Enlight Renewable Energy from $45.00 to $41.00 and set an “underperform” rating for the company in a report on Tuesday, October 13th. Finally, Weiss Ratings cut Enlight Renewable Energy from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Enlight Renewable Energy presently has an average rating of “Hold” and an average price target of $74.86.

Enlight Renewable Energy Stock Up 3.4%

ENLT opened at $71.83 on Monday. The stock has a market capitalization of $8.52 billion, a price-to-earnings ratio of 128.59, a PEG ratio of 22.92 and a beta of 1.70. The firm has a 50 day moving average price of $73.91 and a 200-day moving average price of $82.76. Enlight Renewable Energy has a twelve month low of $32.84 and a twelve month high of $108.65. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.31.

Enlight Renewable Energy (NASDAQ:ENLT) last issued 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 for the quarter. Equities research analysts forecast that Enlight Renewable Energy will post 0.39 earnings per share for the current year.

Insider Buying and Selling at Enlight Renewable Energy

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

Hedge Funds Weigh In On Enlight Renewable Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC bought a new stake in Enlight Renewable Energy during the third quarter valued at about $59,000. Versant Capital Management Inc raised its stake in shares of Enlight Renewable Energy by 105.9% in the third quarter. Versant Capital Management Inc now owns 801 shares of the company’s stock worth $55,000 after buying an additional 412 shares during the period. Tidal Investments LLC raised its stake in shares of Enlight Renewable Energy by 9.8% in the second quarter. Tidal Investments LLC now owns 27,273 shares of the company’s stock worth $2,428,000 after buying an additional 2,427 shares during the period. Orion Capital Management LLC purchased a new position in shares of Enlight Renewable Energy during the 2nd quarter valued at about $26,000. Finally, Navellier & Associates Inc. purchased a new position in shares of Enlight Renewable Energy during the 2nd quarter valued at about $3,475,000. 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 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.