Enlight Renewable Energy (NASDAQ:ENLT) Chairman Sells $9,178,000.00 in Stock

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Chairman Gilad Yavetz sold 100,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $91.78, for a total value of $9,178,000.00. Following the completion of the sale, the chairman directly owned 846,436 shares of the company’s stock, valued at approximately $77,685,896.08. This trade represents a 10.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Enlight Renewable Energy Price Performance

ENLT opened at $92.11 on Thursday. The stock has a market cap of $10.92 billion, a price-to-earnings ratio of 214.21, a PEG ratio of 26.58 and a beta of 1.51. Enlight Renewable Energy Ltd. has a 1 year low of $16.87 and a 1 year high of $96.00. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.68. The stock has a fifty day moving average price of $78.11 and a 200 day moving average price of $58.87.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings data on Tuesday, March 31st. The company reported $0.16 earnings per share (EPS) for the quarter. The firm had revenue of $156.49 million during the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%. Analysts forecast that Enlight Renewable Energy Ltd. will post 0.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ENLT. Deutsche Bank Aktiengesellschaft set a $65.00 price objective on Enlight Renewable Energy and gave the stock a “hold” rating in a research note on Thursday, April 9th. UBS Group lifted their price objective on Enlight Renewable Energy from $93.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. lifted their price objective on Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 6th. Barclays reiterated an “overweight” rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. Finally, Mizuho set a $37.00 price target on Enlight Renewable Energy in a research note 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, Enlight Renewable Energy presently has an average rating of “Hold” and a consensus target price of $60.17.

Hedge Funds Weigh In On Enlight Renewable Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENLT. Y.D. More Investments Ltd boosted its holdings in Enlight Renewable Energy by 50.5% during the third quarter. Y.D. More Investments Ltd now owns 5,584,817 shares of the company’s stock valued at $172,143,000 after purchasing an additional 1,875,084 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its holdings in Enlight Renewable Energy by 18.2% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 11,688,077 shares of the company’s stock valued at $774,113,000 after purchasing an additional 1,797,936 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Enlight Renewable Energy by 11.3% during the fourth quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company’s stock valued at $225,058,000 after purchasing an additional 503,060 shares in the last quarter. Norges Bank acquired a new stake in Enlight Renewable Energy during the fourth quarter valued at approximately $17,875,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Enlight Renewable Energy by 121.2% during the first quarter. Assenagon Asset Management S.A. now owns 505,792 shares of the company’s stock valued at $33,527,000 after purchasing an additional 277,179 shares in the last quarter. 38.89% of the stock is currently owned by institutional investors.

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.