Insider Selling: Enlight Renewable Energy (NASDAQ:ENLT) Insider Sells 3,533 Shares of Stock

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) insider Amit Paz sold 3,533 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $97.35, for a total transaction of $343,937.55. Following the completion of the transaction, the insider owned 284,012 shares of the company’s stock, valued at $27,648,568.20. This represents a 1.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Enlight Renewable Energy Stock Performance

NASDAQ ENLT traded up $10.40 during trading hours on Tuesday, hitting $102.65. The company had a trading volume of 204,476 shares, compared to its average volume of 152,882. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.77 and a current ratio of 0.77. Enlight Renewable Energy Ltd. has a 1-year low of $18.15 and a 1-year high of $103.83. The company has a market cap of $12.17 billion, a PE ratio of 238.73, a price-to-earnings-growth ratio of 33.42 and a beta of 1.51. The business has a 50 day moving average of $80.59 and a 200-day moving average of $61.89.

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. Enlight Renewable Energy had a net margin of 9.47% and a return on equity of 2.48%. The business had revenue of $156.49 million during the quarter. As a group, equities research analysts expect that Enlight Renewable Energy Ltd. will post 0.29 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ENLT. UBS Group increased their target price on shares of Enlight Renewable Energy from $93.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Mizuho set a $37.00 target price on shares of Enlight Renewable Energy in a research note on Monday, February 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. Deutsche Bank Aktiengesellschaft set a $65.00 target price on shares of Enlight Renewable Energy and gave the stock a “hold” rating in a research note on Thursday, April 9th. Finally, JPMorgan Chase & Co. increased their target price 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. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Enlight Renewable Energy currently has an average rating of “Hold” and a consensus price target of $60.17.

Institutional Investors Weigh In On Enlight Renewable Energy

Hedge funds have recently added to or reduced their stakes in the company. State of Wyoming acquired a new stake in Enlight Renewable Energy in the first quarter valued at about $41,000. BNP Paribas Financial Markets lifted its position 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 purchasing an additional 881 shares during the period. V Square Quantitative Management LLC acquired a new stake in Enlight Renewable Energy in the fourth quarter valued at about $56,000. Walleye Capital LLC acquired a new stake in Enlight Renewable Energy in the first quarter valued at about $240,000. Finally, Savant Capital LLC acquired a new stake in Enlight Renewable Energy in the fourth quarter valued at about $241,000. Institutional investors and hedge funds own 38.89% of the company’s stock.

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.