Enlight Renewable Energy (NASDAQ:ENLT) CFO Nir Yehuda Sells 1,276 Shares of Stock

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) CFO Nir Yehuda sold 1,276 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $66.40, for a total value of $84,726.40. Following the sale, the chief financial officer directly owned 34,324 shares of the company’s stock, valued at $2,279,113.60. The trade was a 3.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Enlight Renewable Energy Stock Down 1.0%

Shares of ENLT opened at $65.94 on Tuesday. The company’s 50-day moving average price is $77.63 and its 200 day moving average price is $82.97. Enlight Renewable Energy Ltd. has a 12-month low of $31.55 and a 12-month high of $108.65. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.31. The firm has a market cap of $7.82 billion, a P/E ratio of 106.35, a price-to-earnings-growth ratio of 52.05 and a beta of 1.70.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its earnings results on Tuesday, June 30th. The company reported $0.20 earnings per share for the quarter. The company had revenue of $165.99 million during the quarter. Enlight Renewable Energy had a net margin of 12.35% and a return on equity of 3.52%. On average, sell-side analysts forecast that Enlight Renewable Energy Ltd. will post 0.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ENLT. Barclays boosted their target price on Enlight Renewable Energy from $83.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. Wall Street Zen downgraded Enlight Renewable Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Truist Financial lowered their target price on Enlight Renewable Energy from $106.00 to $104.00 and set a “buy” rating for the company in a report on Monday, September 28th. Weiss Ratings downgraded Enlight Renewable Energy from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, September 18th. Finally, UBS Group cut their price target on shares of Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Four 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, the company has a consensus rating of “Hold” and a consensus target price of $74.71.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Altshuler Shaham Ltd grew its holdings in Enlight Renewable Energy by 705.5% during the 1st quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company’s stock worth $311,645,000 after acquiring an additional 4,127,573 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd grew its stake in shares of 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 worth $774,113,000 after purchasing an additional 1,797,936 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Enlight Renewable Energy by 68.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 995,347 shares of the company’s stock valued at $66,126,000 after buying an additional 404,304 shares during the last quarter. Norges Bank acquired a new stake in Enlight Renewable Energy in the fourth quarter valued at $17,875,000. Finally, Bank of America Corp DE lifted its holdings in Enlight Renewable Energy by 376.4% during the 1st quarter. Bank of America Corp DE now owns 476,289 shares of the company’s stock worth $32,511,000 after buying an additional 376,309 shares during the last quarter. 38.89% of the stock is owned by institutional investors and hedge funds.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd. is a renewable energy company that develops, finances, constructs, owns and operates utility-scale clean energy projects. Its portfolio includes solar photovoltaic, wind energy and energy storage facilities, with activities spanning project development through long-term asset ownership and operations.

The company serves electricity markets in Israel, the United States and several European countries. Its business is focused on expanding renewable generation and storage capacity, often through projects that combine intermittent renewable resources with storage technology to support grid reliability and power delivery.

Enlight was established in Israel and has developed into an international renewable energy platform.