Enlight Renewable Energy (NASDAQ:ENLT) Stock Price Down 4.4% – Time to Sell?

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) fell 4.4% during mid-day trading on Wednesday . The stock traded as low as $84.00 and last traded at $84.0110. 61,914 shares traded hands during trading, a decline of 63% from the average session volume of 168,324 shares. The stock had previously closed at $87.88.

Wall Street Analyst Weigh In

Several analysts have issued reports on ENLT shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. Deutsche Bank Aktiengesellschaft set a $65.00 price target on Enlight Renewable Energy and gave the stock a “hold” rating in a report on Thursday, April 9th. UBS Group raised their price target on Enlight Renewable Energy from $105.00 to $123.00 and gave the stock a “buy” rating in a report on Friday, May 29th. JPMorgan Chase & Co. raised their price target on Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a report on Wednesday, May 6th. Finally, Mizuho set a $37.00 price target on Enlight Renewable Energy in a report on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Enlight Renewable Energy currently has an average rating of “Hold” and an average price target of $63.17.

Enlight Renewable Energy Trading Down 4.5%

The firm has a market cap of $9.95 billion, a P/E ratio of 195.36, a P/E/G ratio of 34.94 and a beta of 1.56. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a fifty day moving average of $88.98 and a 200-day moving average of $68.76.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.16 earnings per share (EPS) for the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%.The business had revenue of $156.49 million during the quarter. Equities research analysts forecast that Enlight Renewable Energy Ltd. will post 0.29 earnings per share for the current year.

Insider Activity at Enlight Renewable Energy

In other news, Chairman Gilad Yavetz sold 100,000 shares of Enlight Renewable Energy stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $91.78, for a total transaction of $9,178,000.00. Following the transaction, the chairman directly owned 846,436 shares in the company, valued at approximately $77,685,896.08. This trade represents a 10.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Yair Seroussi sold 22,505 shares of Enlight Renewable Energy stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $90.63, for a total value of $2,039,628.15. Following the transaction, the insider owned 14,233 shares in the company, valued at approximately $1,289,936.79. This trade represents a 61.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 313,597 shares of company stock worth $29,830,515 in the last quarter.

Hedge Funds Weigh In On Enlight Renewable Energy

Several hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio increased its position 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 valued at $3,185,000 after purchasing an additional 127 shares during the period. Quantinno Capital Management LP increased its position in shares of Enlight Renewable Energy by 2.7% during the 1st quarter. Quantinno Capital Management LP now owns 6,506 shares of the company’s stock valued at $435,000 after purchasing an additional 170 shares during the period. Advisors Asset Management Inc. increased its position in shares of Enlight Renewable Energy by 0.9% during the 4th quarter. Advisors Asset Management Inc. now owns 26,865 shares of the company’s stock valued at $1,221,000 after purchasing an additional 251 shares during the period. Mariner LLC boosted its stake in shares of Enlight Renewable Energy by 4.1% during the 3rd quarter. Mariner LLC now owns 10,070 shares of the company’s stock worth $314,000 after acquiring an additional 396 shares in the last quarter. Finally, State of Wyoming bought a new stake in shares of Enlight Renewable Energy during the 1st quarter worth $41,000. 38.89% of the stock is currently owned by institutional investors and hedge funds.

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.