Enlight Renewable Energy (NASDAQ:ENLT) Stock Rating Lowered by Wall Street Zen

Enlight Renewable Energy (NASDAQ:ENLT) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other research analysts have also weighed in on the company. JPMorgan Chase & Co. boosted their price target on 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 report on Monday, July 13th. They issued a “buy” rating and a $106.00 price objective for the company. Weiss Ratings raised shares of Enlight Renewable Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 4th. UBS Group lowered their target price on shares of Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Finally, Barclays upped their price target on shares of Enlight Renewable Energy from $83.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $75.00.

Enlight Renewable Energy Price Performance

Shares of NASDAQ ENLT opened at $84.82 on Friday. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.12 and a quick ratio of 1.12. The business has a 50-day moving average of $88.77 and a 200-day moving average of $80.00. The stock has a market capitalization of $10.06 billion, a price-to-earnings ratio of 136.81, a PEG ratio of 66.31 and a beta of 1.68. Enlight Renewable Energy has a fifty-two week low of $23.30 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. Enlight Renewable Energy had a return on equity of 3.52% and a net margin of 12.35%.The business had revenue of $165.99 million for the quarter. As a group, sell-side analysts predict that Enlight Renewable Energy will post 0.35 earnings per share for the current fiscal year.

Insider Transactions at Enlight Renewable Energy

In related news, Director Yitzhak Betzalel sold 2,062 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $103.64, for a total transaction of $213,705.68. Following the transaction, the director directly owned 2 shares of the company’s stock, valued at approximately $207.28. The trade was a 99.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michal Tzuk sold 2,400 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $105.86, for a total value of $254,064.00. Following the transaction, the director directly owned 2,712 shares in the company, valued at $287,092.32. The trade was a 46.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 287,322 shares of company stock valued at $27,452,472.

Institutional Investors Weigh In On Enlight Renewable Energy

Several hedge funds have recently added to or reduced their stakes in ENLT. Public Employees Retirement System of Ohio lifted its stake in shares of Enlight Renewable Energy by 0.3% during the 1st quarter. Public Employees Retirement System of Ohio now owns 48,095 shares of the company’s stock worth $3,185,000 after buying an additional 127 shares during the last quarter. Quantinno Capital Management LP grew its stake in Enlight Renewable Energy by 2.7% in the 1st quarter. Quantinno Capital Management LP now owns 6,506 shares of the company’s stock valued at $435,000 after buying an additional 170 shares during the last quarter. Advisors Asset Management Inc. grew its stake in Enlight Renewable Energy by 0.9% in the 4th quarter. Advisors Asset Management Inc. now owns 26,865 shares of the company’s stock valued at $1,221,000 after buying an additional 251 shares during the last quarter. Versant Capital Management Inc bought a new position in Enlight Renewable Energy in the 2nd quarter valued at about $34,000. Finally, Mariner LLC raised its holdings in Enlight Renewable Energy by 4.1% in the 3rd quarter. Mariner LLC now owns 10,070 shares of the company’s stock valued at $314,000 after acquiring an additional 396 shares during the period. Institutional investors and hedge funds own 38.89% of the company’s stock.

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.