Insider Selling: Enlight Renewable Energy (NASDAQ:ENLT) CFO Sells 5,796 Shares of Stock

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) CFO Nir Yehuda sold 5,796 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $92.83, for a total value of $538,042.68. Following the completion of the sale, the chief financial officer directly owned 36,749 shares of the company’s stock, valued at $3,411,409.67. This represents a 13.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Nir Yehuda also recently made the following trade(s):

• On Wednesday, May 13th, Nir Yehuda sold 1,149 shares of Enlight Renewable Energy stock. The shares were sold at an average price of $93.23, for a total value of $107,121.27.

Enlight Renewable Energy Stock Up 0.9%

ENLT opened at $92.11 on Thursday. 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 market capitalization of $10.92 billion, a price-to-earnings ratio of 214.21, a P/E/G ratio of 26.58 and a beta of 1.51. The business has a 50 day moving average of $78.11 and a 200-day moving average of $58.87.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.16 earnings per share for the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%.The company had revenue of $156.49 million during the quarter. As a group, sell-side analysts anticipate that Enlight Renewable Energy Ltd. will post 0.37 earnings per share for the current year.

Wall Street Analyst Weigh In

ENLT has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. Deutsche Bank Aktiengesellschaft set a $65.00 target price on Enlight Renewable Energy and gave the stock a “hold” rating in a research report on Thursday, April 9th. JPMorgan Chase & Co. raised their target price on Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 6th. Barclays reaffirmed an “overweight” rating on shares of Enlight Renewable Energy in a research report on Wednesday, February 18th. Finally, Mizuho set a $37.00 target price on Enlight Renewable Energy in a research report on Monday, February 23rd. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $60.17.

Institutional Trading of Enlight Renewable Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in ENLT. Y.D. More Investments Ltd increased its stake in shares of Enlight Renewable Energy by 50.5% in 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 buying an additional 1,875,084 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd increased its stake in shares of Enlight Renewable Energy by 18.2% in 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 buying an additional 1,797,936 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Enlight Renewable Energy by 11.3% in the fourth quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company’s stock valued at $225,058,000 after buying an additional 503,060 shares in the last quarter. Norges Bank acquired a new stake in shares of Enlight Renewable Energy in the fourth quarter valued at $17,875,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of Enlight Renewable Energy by 121.2% in the first quarter. Assenagon Asset Management S.A. now owns 505,792 shares of the company’s stock valued at $33,527,000 after buying an additional 277,179 shares in the last quarter. 38.89% of the stock is currently owned by institutional investors and hedge funds.

Enlight Renewable Energy Company Profile

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.