Enlight Renewable Energy (NASDAQ:ENLT) VP Israeli Ayelet Cohen Sells 10,123 Shares

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) VP Israeli Ayelet Cohen sold 10,123 shares of Enlight Renewable Energy stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $108.50, for a total value of $1,098,345.50. Following the transaction, the vice president owned 20,974 shares in the company, valued at approximately $2,275,679. This represents a 32.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Enlight Renewable Energy Trading Down 0.6%

ENLT stock traded down $0.64 during midday trading on Tuesday, hitting $106.78. 350,258 shares of the company’s stock were exchanged, compared to its average volume of 213,175. The stock’s fifty day moving average price is $83.54 and its 200-day moving average price is $64.32. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market cap of $12.66 billion, a PE ratio of 240.40, a price-to-earnings-growth ratio of 38.92 and a beta of 1.51. Enlight Renewable Energy Ltd. has a one year low of $18.22 and a one year high of $108.65.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its earnings results 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%. Research analysts predict that Enlight Renewable Energy Ltd. will post 0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enlight Renewable Energy

Institutional investors have recently bought and sold shares of the business. Bank of America Corp DE grew its position in shares of Enlight Renewable Energy by 376.4% in the first quarter. Bank of America Corp DE now owns 476,289 shares of the company’s stock valued at $32,511,000 after purchasing an additional 376,309 shares during the last quarter. Altshuler Shaham Ltd grew its position in shares of Enlight Renewable Energy by 705.5% in the first quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company’s stock valued at $311,645,000 after purchasing an additional 4,127,573 shares during the last quarter. Amundi grew its position in shares of Enlight Renewable Energy by 13.8% in the first quarter. Amundi now owns 248,834 shares of the company’s stock valued at $16,985,000 after purchasing an additional 30,126 shares during the last quarter. Quantinno Capital Management LP grew its position in shares of Enlight Renewable Energy by 2.7% in the first quarter. Quantinno Capital Management LP now owns 6,506 shares of the company’s stock valued at $435,000 after purchasing an additional 170 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Enlight Renewable Energy in the first quarter valued at approximately $2,305,000. Institutional investors and hedge funds own 38.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Mizuho set a $37.00 price target on Enlight Renewable Energy in a report on Monday, February 23rd. Barclays restated an “overweight” rating on shares of Enlight Renewable Energy in a report on Wednesday, February 18th. Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. UBS Group boosted their price target on Enlight Renewable Energy from $105.00 to $123.00 and gave the company a “buy” rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft set a $65.00 price target on Enlight Renewable Energy and gave the company a “hold” rating in a report on Thursday, April 9th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Enlight Renewable Energy currently has a consensus rating of “Hold” and an average target price of $63.17.

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.