Enlight Renewable Energy (NASDAQ:ENLT) Downgraded by Wall Street Zen to "Sell"

Key Points

• Wall Street Zen downgraded Enlight Renewable Energy to “Sell” from “Hold,” while the broader analyst consensus remains “Hold” with an average price target of $75.00. Other analysts remain mixed, with several maintaining “Buy” ratings and targets ranging from $68 to $115.
• ENLT shares opened at $84.82, up 0.5%, giving the company a market capitalization of approximately $10.06 billion. The stock trades at elevated valuation multiples, including a P/E ratio of 136.81 and PEG ratio of 82.28.
• Insiders have sold heavily: company insiders sold 287,322 shares worth approximately $27.45 million over the past 90 days. Institutional investors and hedge funds own 38.89% of the stock, with several large investors significantly increasing their positions.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

Several other research firms also recently weighed in on ENLT. Barclays raised their price objective on Enlight Renewable Energy from $83.00 to $89.00 and gave the company an "overweight" rating in a research note on Monday, July 20th. Truist Financial assumed coverage on Enlight Renewable Energy in a research report on Monday, July 13th. They set a "buy" rating and a $106.00 target price on the stock. Weiss Ratings raised Enlight Renewable Energy from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday. UBS Group dropped their price target on Enlight Renewable Energy from $123.00 to $115.00 and set a "buy" rating for the company in a research report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. lifted their price target on Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an "underweight" rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Enlight Renewable Energy currently has an average rating of "Hold" and a consensus price target of $75.00.

Enlight Renewable Energy Trading Up 0.5%

Shares of ENLT opened at $84.82 on Friday. The company has a current ratio of 1.12, a quick ratio of 0.77 and a debt-to-equity ratio of 2.31. The firm's 50-day moving average is $88.77 and its two-hundred day moving average is $79.79. Enlight Renewable Energy has a twelve month low of $23.30 and a twelve month high of $108.65. The firm has a market capitalization of $10.06 billion, a P/E ratio of 136.81, a PEG ratio of 82.28 and a beta of 1.68.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last posted its quarterly 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 during the quarter. On average, research analysts predict that Enlight Renewable Energy will post 0.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Enlight Renewable Energy

In other news, VP Israeli Ayelet Cohen sold 10,123 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The shares were 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 of the company's stock, valued at $2,275,679. This trade represents a 32.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Shai Yeshayahu Weil sold 73,436 shares of Enlight Renewable Energy stock in a transaction that occurred on Monday, May 25th. The stock was sold at an average price of $93.68, for a total value of $6,879,484.48. Following the transaction, the director owned 396,655 shares of the company's stock, valued at $37,158,640.40. This represents a 15.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 287,322 shares of company stock worth $27,452,472.

Hedge Funds Weigh In On Enlight Renewable Energy

A number of institutional investors have recently made changes to their positions in ENLT. Versant Capital Management Inc acquired a new stake in shares of Enlight Renewable Energy during the second quarter valued at $34,000. Wealth High Governance Capital Ltda acquired a new stake in shares of Enlight Renewable Energy during the 1st quarter worth about $1,439,000. Wealth High Governance Asset Management Ltda. acquired a new stake in shares of Enlight Renewable Energy during the 1st quarter worth about $1,218,000. Bank of America Corp DE grew its holdings in shares of Enlight Renewable Energy by 376.4% during the first quarter. Bank of America Corp DE now owns 476,289 shares of the company's stock worth $32,511,000 after buying an additional 376,309 shares in the last quarter. Finally, Altshuler Shaham Ltd grew its holdings in shares of Enlight Renewable Energy by 705.5% during the first quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company's stock worth $311,645,000 after buying an additional 4,127,573 shares in the last quarter. 38.89% of the stock is owned by institutional investors and hedge funds.

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.

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