Enlight Renewable Energy (NASDAQ:ENLT) Insider Ilan Goren Sells 2,700 Shares of Stock

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) insider Ilan Goren sold 2,700 shares of Enlight Renewable Energy 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 sale, the insider directly owned 40,135 shares in the company, valued at approximately $2,601,149.35. The trade was a 6.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Enlight Renewable Energy Trading Down 1.0%

Shares of ENLT opened at $65.94 on Tuesday. The company has a market capitalization of $7.82 billion, a P/E ratio of 106.35, a P/E/G ratio of 52.05 and a beta of 1.70. Enlight Renewable Energy Ltd. has a one year low of $31.55 and a one year high of $108.65. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a 50-day moving average price of $77.63 and a 200 day moving average price of $82.97.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $0.20 earnings per share for the quarter. Enlight Renewable Energy had a return on equity of 3.52% and a net margin of 12.35%.The firm had revenue of $165.99 million during the quarter. Sell-side analysts forecast that Enlight Renewable Energy Ltd. will post 0.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Enlight Renewable Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd boosted its holdings in Enlight Renewable Energy by 18.2% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 11,688,077 shares of the company’s stock worth $774,113,000 after purchasing an additional 1,797,936 shares during the period. Altshuler Shaham Ltd raised 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 purchasing an additional 4,127,573 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Enlight Renewable Energy by 68.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 995,347 shares of the company’s stock worth $66,126,000 after buying an additional 404,304 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Enlight Renewable Energy by 121.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 505,792 shares of the company’s stock worth $33,527,000 after buying an additional 277,179 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Enlight Renewable Energy by 376.4% in the 1st quarter. Bank of America Corp DE now owns 476,289 shares of the company’s stock valued at $32,511,000 after buying an additional 376,309 shares during the period. 38.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on ENLT. Truist Financial cut their price target on shares of Enlight Renewable Energy from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Monday, September 28th. Weiss Ratings lowered shares of Enlight Renewable Energy from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, September 18th. UBS Group dropped their target price on shares of 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. Wall Street Zen lowered shares of Enlight Renewable Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Barclays increased their price target on shares of Enlight Renewable Energy from $83.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. Four 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $74.71.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd. is a renewable energy company that develops, finances, constructs, owns and operates utility-scale clean energy projects. Its portfolio includes solar photovoltaic, wind energy and energy storage facilities, with activities spanning project development through long-term asset ownership and operations.

The company serves electricity markets in Israel, the United States and several European countries. Its business is focused on expanding renewable generation and storage capacity, often through projects that combine intermittent renewable resources with storage technology to support grid reliability and power delivery.

Enlight was established in Israel and has developed into an international renewable energy platform.