Insider Selling: Enlight Renewable Energy (NASDAQ:ENLT) Director Sells 2,400 Shares of Stock

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Director Michal Tzuk sold 2,400 shares of the company’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 completion of the transaction, the director directly owned 2,712 shares of the company’s stock, valued at approximately $287,092.32. The trade was a 46.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Enlight Renewable Energy Price Performance

Shares of NASDAQ ENLT opened at $107.42 on Monday. The firm has a market cap of $12.74 billion, a PE ratio of 249.82, a PEG ratio of 38.92 and a beta of 1.56. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.68. Enlight Renewable Energy Ltd. has a 1-year low of $18.22 and a 1-year high of $108.65. The company has a fifty day moving average price of $82.97 and a 200 day moving average price of $63.84.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share for the quarter. The firm 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%. Research analysts predict that Enlight Renewable Energy Ltd. will post 0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ENLT shares. UBS Group increased 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 note on Friday. Mizuho set a $37.00 price objective on shares of Enlight Renewable Energy in a research note on Monday, February 23rd. Deutsche Bank Aktiengesellschaft set a $65.00 price objective on shares of Enlight Renewable Energy and gave the stock a “hold” rating in a research note on Thursday, April 9th. JPMorgan Chase & Co. increased their price objective on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Enlight Renewable Energy currently has a consensus rating of “Hold” and an average target price of $63.17.

Institutional Investors Weigh In On Enlight Renewable Energy

Several hedge funds have recently bought and sold shares of ENLT. Altshuler Shaham Ltd lifted its stake in Enlight Renewable Energy by 705.5% in the 1st quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company’s stock valued at $311,645,000 after purchasing an additional 4,127,573 shares during the last quarter. Y.D. More Investments Ltd raised its holdings in Enlight Renewable Energy by 50.5% in the 3rd quarter. Y.D. More Investments Ltd now owns 5,584,817 shares of the company’s stock valued at $172,143,000 after acquiring an additional 1,875,084 shares during the period. Clal Insurance Enterprises Holdings Ltd raised its holdings in Enlight Renewable Energy by 18.2% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 11,688,077 shares of the company’s stock valued at $774,113,000 after acquiring an additional 1,797,936 shares during the period. Vanguard Group Inc. raised its holdings in Enlight Renewable Energy by 11.3% in the 4th quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company’s stock valued at $225,058,000 after acquiring an additional 503,060 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Enlight Renewable Energy by 68.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 995,347 shares of the company’s stock valued at $66,126,000 after acquiring an additional 404,304 shares during the period. 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.