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

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) insider Amit Paz sold 3,533 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $97.35, for a total value of $343,937.55. Following the transaction, the insider owned 284,012 shares of the company’s stock, valued at $27,648,568.20. This trade represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Enlight Renewable Energy Price Performance

Shares of ENLT opened at $103.56 on Wednesday. Enlight Renewable Energy Ltd. has a 1 year low of $18.15 and a 1 year high of $103.88. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market capitalization of $12.28 billion, a price-to-earnings ratio of 240.84, a price-to-earnings-growth ratio of 33.42 and a beta of 1.51. The business has a 50-day moving average of $81.25 and a 200-day moving average of $62.37.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.16 earnings per share (EPS) 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, equities research analysts anticipate that Enlight Renewable Energy Ltd. will post 0.29 earnings per share for the current year.

Institutional Investors Weigh In On Enlight Renewable Energy

A number of hedge funds have recently added to or reduced their stakes in ENLT. Altshuler Shaham Ltd grew its stake in 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 acquiring an additional 4,127,573 shares during the period. Y.D. More Investments Ltd grew its stake in 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 acquiring an additional 1,875,084 shares during the period. Clal Insurance Enterprises Holdings Ltd grew its stake in 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 acquiring an additional 1,797,936 shares during the period. Vanguard Group Inc. grew its stake in 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 acquiring an additional 503,060 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake 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 acquiring an additional 404,304 shares during the period. Institutional investors and hedge funds own 38.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ENLT shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. 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 note on Wednesday, May 6th. UBS Group raised their target price 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. Deutsche Bank Aktiengesellschaft set a $65.00 target price on Enlight Renewable Energy and gave the stock a “hold” rating in a research note on Thursday, April 9th. Finally, Barclays reaffirmed an “overweight” rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Enlight Renewable Energy currently has an average rating of “Hold” and a consensus 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.