Enlight Renewable Energy (NASDAQ:ENLT) Stock Rating 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 report published on Sunday morning,Wall Street Zen reports.

A number of other research firms have also recently weighed in on ENLT. Weiss Ratings cut Enlight Renewable Energy from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, September 18th. Truist Financial cut their price objective on Enlight Renewable Energy from $106.00 to $104.00 and set a “buy” rating for the company in a research report on Monday, September 28th. Barclays boosted their price objective 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 decreased their target price on 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, Zacks Research upgraded Enlight Renewable Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Enlight Renewable Energy has an average rating of “Hold” and an average price target of $74.86.

Enlight Renewable Energy Price Performance

Shares of Enlight Renewable Energy stock opened at $68.38 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.31. The stock has a market capitalization of $8.11 billion, a price-to-earnings ratio of 110.29, a P/E/G ratio of 22.57 and a beta of 1.70. Enlight Renewable Energy has a 1-year low of $32.87 and a 1-year high of $108.65. The firm’s 50-day moving average price is $73.23 and its two-hundred day moving average price is $82.76.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $0.20 earnings per share 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. On average, equities analysts predict that Enlight Renewable Energy will post 0.39 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Ilan Goren sold 2,700 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $64.81, for a total value of $174,987.00. Following the transaction, the insider owned 40,135 shares in the company, valued at $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 available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Amit Paz sold 2,221 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $73.94, for a total value of $164,220.74. Following the completion of the transaction, the insider owned 277,462 shares in the company, valued at approximately $20,515,540.28. This represents a 0.79% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 10,526 shares of company stock valued at $755,406.

Institutional Trading of Enlight Renewable Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio grew its holdings in shares of Enlight Renewable Energy by 0.3% in the 1st quarter. Public Employees Retirement System of Ohio now owns 48,095 shares of the company’s stock valued at $3,185,000 after buying an additional 127 shares during the period. Quantinno Capital Management LP increased its position in shares of 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 in the last quarter. Orion Capital Management LLC bought a new stake in shares of Enlight Renewable Energy in the 2nd quarter valued at $26,000. Versant Capital Management Inc acquired a new stake in Enlight Renewable Energy during the 2nd quarter worth $34,000. Finally, State of Wyoming acquired a new stake in Enlight Renewable Energy during the 1st quarter worth $41,000. 38.89% of the stock is owned by 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.