Insider Selling: Enlight Renewable Energy (NASDAQ:ENLT) CFO Sells $538,042.68 in Stock

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) CFO Nir Yehuda sold 5,796 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $92.83, for a total transaction of $538,042.68. Following the transaction, the chief financial officer owned 36,749 shares of the company’s stock, valued at approximately $3,411,409.67. The trade was a 13.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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 transaction of $107,121.27.

Enlight Renewable Energy Stock Performance

NASDAQ:ENLT opened at $85.87 on Friday. The company has a fifty day moving average of $78.73 and a 200-day moving average of $59.46. The firm has a market capitalization of $10.18 billion, a P/E ratio of 199.70, a P/E/G ratio of 25.00 and a beta of 1.51. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.68. Enlight Renewable Energy Ltd. has a twelve month low of $16.87 and a twelve month high of $96.00.

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

Institutional Trading of Enlight Renewable Energy

Several institutional investors and hedge funds have recently modified their holdings of ENLT. 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 valued at $28,000 after purchasing an additional 881 shares in the last quarter. State of Wyoming bought a new stake in Enlight Renewable Energy during the first quarter worth $41,000. V Square Quantitative Management LLC bought a new stake in Enlight Renewable Energy during the fourth quarter worth $56,000. Walleye Capital LLC bought a new stake in Enlight Renewable Energy during the first quarter worth $240,000. Finally, Savant Capital LLC bought a new stake in Enlight Renewable Energy during the fourth quarter worth $241,000. 38.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ENLT. Barclays reiterated an “overweight” rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. JPMorgan Chase & Co. lifted their price objective on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the company an “underweight” rating in a research note on Wednesday, May 6th. UBS Group lifted their price objective on shares of Enlight Renewable Energy from $93.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Mizuho set a $37.00 price objective on shares of Enlight Renewable Energy in a research note on Monday, February 23rd. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.