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

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

Analysts Set New Price Targets

ENLT has been the subject of several research analyst reports. UBS Group boosted their price objective on shares of Enlight Renewable Energy from $105.00 to $123.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Deutsche Bank Aktiengesellschaft set a $65.00 price objective on Enlight Renewable Energy and gave the company a “hold” rating in a research report on Thursday, April 9th. Mizuho set a $37.00 target price on Enlight Renewable Energy in a research note on Monday, February 23rd. Wall Street Zen upgraded Enlight Renewable Energy from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, JPMorgan Chase & Co. upped their price target on Enlight Renewable Energy from $57.00 to $68.00 and gave the company an “underweight” rating in a research note on Wednesday, May 6th. Three investment 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $63.17.

Enlight Renewable Energy Stock Up 7.4%

The business has a fifty day moving average of $89.56 and a 200 day moving average of $69.38. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.68. The firm has a market cap of $10.25 billion, a P/E ratio of 201.12, a P/E/G ratio of 29.17 and a beta of 1.56.

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

Insider Buying and Selling

In related news, Director Michal Tzuk sold 2,400 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $105.86, for a total transaction of $254,064.00. Following the sale, the director owned 2,712 shares of the company’s stock, valued at approximately $287,092.32. This trade represents a 46.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Yitzhak Betzalel sold 2,062 shares of Enlight Renewable Energy stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $103.64, for a total value of $213,705.68. Following the transaction, the director owned 2 shares in the company, valued at approximately $207.28. This represents a 99.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 313,597 shares of company stock valued at $29,830,515.

Institutional Investors Weigh In On Enlight Renewable Energy

Large investors have recently modified their holdings of the business. State of Wyoming bought a new stake in Enlight Renewable Energy during the 1st quarter worth approximately $41,000. BNP Paribas Financial Markets increased its holdings in Enlight Renewable Energy by 256.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock worth $28,000 after purchasing an additional 881 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Enlight Renewable Energy during the 4th quarter worth about $56,000. Walleye Capital LLC acquired a new stake in shares of Enlight Renewable Energy in the 1st quarter valued at about $240,000. Finally, Savant Capital LLC acquired a new stake in shares of Enlight Renewable Energy in the 4th quarter valued at about $241,000. 38.89% of the stock is currently owned by institutional investors.

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.