Enlight Renewable Energy (NASDAQ:ENLT) Trading Down 5.1% – Should You Sell?

Enlight Renewable Energy Ltd. (NASDAQ:ENLT)’s share price fell 5.1% during trading on Wednesday . The company traded as low as $91.16 and last traded at $92.7180. 63,152 shares were traded during mid-day trading, a decline of 62% from the average session volume of 166,642 shares. The stock had previously closed at $97.75.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ENLT. Weiss Ratings reiterated a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. UBS Group lifted their price objective on shares of Enlight Renewable Energy from $105.00 to $123.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Barclays reiterated an “overweight” rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. 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. Finally, Mizuho set a $37.00 price target on Enlight Renewable Energy in a research report on Monday, February 23rd. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $63.17.

Enlight Renewable Energy Trading Up 4.7%

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 stock has a market capitalization of $11.17 billion, a PE ratio of 219.07, a price-to-earnings-growth ratio of 32.58 and a beta of 1.56. The business’s 50-day moving average is $87.59 and its two-hundred day moving average is $67.60.

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

Insider Activity

In other news, Chairman Gilad Yavetz sold 100,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chairman directly owned 846,436 shares of the company’s stock, valued at approximately $77,685,896.08. This represents a 10.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $1,098,345.50. Following the completion of the sale, the vice president directly owned 20,974 shares of the company’s stock, valued at $2,275,679. This represents a 32.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 313,597 shares of company stock valued at $29,830,515 over the last ninety days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its holdings in Enlight Renewable Energy by 256.1% in the second quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock valued at $28,000 after acquiring an additional 881 shares during the period. State of Wyoming acquired a new position in shares of Enlight Renewable Energy during the 1st quarter worth $41,000. V Square Quantitative Management LLC acquired a new position in shares of Enlight Renewable Energy during the 4th quarter worth $56,000. Walleye Capital LLC purchased a new position in shares of Enlight Renewable Energy in the 1st quarter valued at about $240,000. Finally, Savant Capital LLC purchased a new position in shares of Enlight Renewable Energy in the 4th quarter valued at about $241,000. Institutional investors and hedge funds own 38.89% of the company’s stock.

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.