Meron Carr Sells 3,329 Shares of Enlight Renewable Energy (NASDAQ:ENLT) Stock

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) SVP Meron Carr sold 3,329 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $103.44, for a total transaction of $344,351.76. Following the completion of the sale, the senior vice president directly owned 42,465 shares in the company, valued at approximately $4,392,579.60. This trade represents a 7.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Meron Carr also recently made the following trade(s):

• On Wednesday, May 27th, Meron Carr sold 3,074 shares of Enlight Renewable Energy stock. The shares were sold at an average price of $103.88, for a total transaction of $319,327.12.

Enlight Renewable Energy Trading Up 0.2%

Shares of NASDAQ ENLT traded up $0.20 during trading hours on Thursday, hitting $102.70. The company’s stock had a trading volume of 503,491 shares, compared to its average volume of 157,474. The business has a 50-day simple moving average of $81.80 and a 200-day simple moving average of $62.85. The stock has a market cap of $12.18 billion, a price-to-earnings ratio of 238.84, a P/E/G ratio of 37.52 and a beta of 1.51. 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 12 month low of $18.22 and a 12 month high of $106.47.

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

Key Enlight Renewable Energy News

Here are the key news stories impacting Enlight Renewable Energy this week:

• Positive Sentiment: Enlight signed a 200 MW AC solar power purchase agreement with Google to support data center operations in Oklahoma, a meaningful commercial win that strengthens its U.S. growth story and helped fuel the recent rally. Article Title
• Neutral Sentiment: Recent commentary noted the stock’s sharp run-up after the Google deal, while also warning that valuation looks stretched versus GF Value. Article Title
• Negative Sentiment: Multiple insiders sold shares over the past few days, including Vice Chairman Yair Seroussi, Director Shai Yeshayahu Weil, VP Lisa Haimovitz, and insider Amit Paz. Large insider selling can make investors cautious, especially after a strong price move. Article Title

Institutional Investors Weigh In On Enlight Renewable Energy

Several hedge funds have recently bought and sold shares of the business. Altshuler Shaham Ltd grew its holdings in Enlight Renewable Energy by 705.5% in 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. Y.D. More Investments Ltd boosted its position in shares of 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 worth $172,143,000 after purchasing an additional 1,875,084 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its position in shares of 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 worth $774,113,000 after purchasing an additional 1,797,936 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Enlight Renewable Energy by 11.3% in the 4th quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company’s stock worth $225,058,000 after purchasing an additional 503,060 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted 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 purchasing an additional 404,304 shares in the last quarter. Institutional investors own 38.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ENLT. Barclays reaffirmed an “overweight” rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. Mizuho set a $37.00 price target on Enlight Renewable Energy in a research note on Monday, February 23rd. Deutsche Bank Aktiengesellschaft set a $65.00 price target on Enlight Renewable Energy and gave the stock a “hold” rating in a research note on Thursday, April 9th. JPMorgan Chase & Co. upped their target price on Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. Three 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 MarketBeat.com, Enlight Renewable Energy has an average rating of “Hold” and an average target price of $60.17.

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.