Amit Paz Sells 3,533 Shares of Enlight Renewable Energy (NASDAQ:ENLT) Stock

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) insider Amit Paz sold 3,533 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $97.35, for a total transaction of $343,937.55. Following the sale, the insider owned 284,012 shares in the company, valued at approximately $27,648,568.20. The trade was a 1.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Enlight Renewable Energy Price Performance

NASDAQ ENLT opened at $102.50 on Thursday. Enlight Renewable Energy Ltd. has a 12 month low of $18.22 and a 12 month high of $104.55. The stock has a market cap of $12.15 billion, a price-to-earnings ratio of 238.38, a PEG ratio of 37.52 and a beta of 1.51. The company’s 50 day moving average is $81.80 and its two-hundred day moving average is $62.85. 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 (NASDAQ:ENLT) last released its earnings results on Tuesday, March 31st. The company reported $0.16 EPS for the quarter. Enlight Renewable Energy had a net margin of 9.47% and a return on equity of 2.48%. The company had revenue of $156.49 million for the quarter. As a group, research analysts anticipate that Enlight Renewable Energy Ltd. will post 0.29 earnings per share for the current year.

Hedge Funds Weigh In On Enlight Renewable Energy

Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its holdings in shares of Enlight Renewable Energy by 256.1% in the second quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock worth $28,000 after buying an additional 881 shares in the last quarter. State of Wyoming purchased a new position in shares of Enlight Renewable Energy in the first quarter worth $41,000. V Square Quantitative Management LLC purchased a new position in shares of Enlight Renewable Energy in the fourth quarter worth $56,000. Walleye Capital LLC purchased a new position in shares of Enlight Renewable Energy in the first quarter worth $240,000. Finally, Savant Capital LLC purchased a new position in shares of Enlight Renewable Energy in the fourth quarter worth $241,000. Hedge funds and other institutional investors own 38.89% of the company’s stock.

More 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. The deal expands Enlight’s U.S. commercial footprint and suggests growing demand for its renewable energy projects. Article Title
• Neutral Sentiment: The company’s stock has also been the subject of bullish commentary, with one report noting the shares rose sharply on the Google deal while warning the valuation looks stretched relative to GF Value. Article Title
• Negative Sentiment: Multiple insiders sold shares, including Vice Chairman Yair Seroussi, Director Shai Yeshayahu Weil, VP Lisa Haimovitz, and insider Amit Paz. Large insider sales can make investors cautious, especially after a strong run in the share price. Article Title

Wall Street Analysts Forecast Growth

ENLT has been the topic of a number of recent analyst reports. Mizuho set a $37.00 target price on shares of Enlight Renewable Energy in a research note on Monday, February 23rd. Barclays reissued an “overweight” rating on shares of Enlight Renewable Energy in a report on Wednesday, February 18th. UBS Group boosted their target price on shares of Enlight Renewable Energy from $93.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft set a $65.00 target price on shares of Enlight Renewable Energy and gave the stock a “hold” rating in a report on Thursday, April 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a report on Wednesday, May 6th. Three 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. According to MarketBeat.com, the stock presently 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.