Wall Street Zen Downgrades Enlight Renewable Energy (NASDAQ:ENLT) to Sell

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

A number of other research analysts also recently commented on ENLT. Weiss Ratings reiterated a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. JPMorgan Chase & Co. upped their target price on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the company an “underweight” rating in a research note on Wednesday, May 6th. UBS Group reduced their price target on shares of 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. Finally, Deutsche Bank Aktiengesellschaft set a $65.00 price target on Enlight Renewable Energy and gave the stock a “hold” rating in a research note on Thursday, April 9th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Enlight Renewable Energy has a consensus rating of “Hold” and a consensus target price of $61.83.

Enlight Renewable Energy Stock Up 0.9%

NASDAQ ENLT traded up $0.71 during mid-day trading on Friday, reaching $82.21. 129,351 shares of the company’s stock traded hands, compared to its average volume of 275,643. 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 1-year low of $22.95 and a 1-year high of $108.65. The company has a fifty day simple moving average of $90.97 and a 200-day simple moving average of $74.31. The company has a market cap 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.

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 return on equity of 2.48% and a net margin of 9.47%.The company had revenue of $156.49 million during the quarter. As a group, equities research analysts expect that Enlight Renewable Energy will post 0.28 EPS for the current year.

Insider Buying and Selling at Enlight Renewable Energy

In related 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 transaction of $1,098,345.50. Following the completion of the transaction, the vice president directly owned 20,974 shares in the company, valued at $2,275,679. This represents a 32.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Gilad Yavetz sold 100,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $91.78, for a total value of $9,178,000.00. Following the completion of the sale, the chairman directly owned 846,436 shares in the company, valued at $77,685,896.08. This represents a 10.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 313,597 shares of company stock worth $29,830,515.

Institutional Trading of Enlight Renewable Energy

Several hedge funds have recently bought and sold shares of the company. Amundi grew its position in Enlight Renewable Energy by 2.3% in the 1st quarter. Amundi now owns 74,681 shares of the company’s stock worth $1,160,000 after purchasing an additional 1,647 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Enlight Renewable Energy by 0.7% during the second quarter. Geode Capital Management LLC now owns 108,157 shares of the company’s stock worth $2,458,000 after buying an additional 773 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Enlight Renewable Energy during the second quarter worth approximately $815,000. First Trust Advisors LP grew its holdings in Enlight Renewable Energy by 9.6% in the 2nd quarter. First Trust Advisors LP now owns 70,516 shares of the company’s stock worth $1,600,000 after buying an additional 6,201 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in Enlight Renewable Energy by 9.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 279,789 shares of the company’s stock worth $6,348,000 after buying an additional 24,653 shares in the last quarter. 38.89% of the stock is currently owned by institutional investors.

Enlight Renewable Energy Company Profile

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.