Insider Selling: Enlight Renewable Energy (NASDAQ:ENLT) VP Sells 10,123 Shares of Stock

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) VP Israeli Ayelet Cohen sold 10,123 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $108.50, for a total value of $1,098,345.50. Following the completion of the transaction, the vice president directly owned 20,974 shares in the company, valued at $2,275,679. The trade was a 32.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Enlight Renewable Energy Stock Performance

Shares of Enlight Renewable Energy stock traded down $0.64 on Tuesday, hitting $106.78. The stock had a trading volume of 350,258 shares, compared to its average volume of 213,175. Enlight Renewable Energy Ltd. has a twelve month low of $18.22 and a twelve month high of $108.65. The business’s 50 day moving average is $83.54 and its two-hundred day moving average is $64.32. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.68. The stock has a market cap of $12.66 billion, a price-to-earnings ratio of 240.40, a price-to-earnings-growth ratio of 38.92 and a beta of 1.51.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its earnings results on Tuesday, March 31st. The company reported $0.16 EPS for the quarter. The company had revenue of $156.49 million for the quarter. Enlight Renewable Energy had a net margin of 9.47% and a return on equity of 2.48%. Analysts forecast that Enlight Renewable Energy Ltd. will post 0.29 EPS for the current year.

Analyst Upgrades and Downgrades

ENLT has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft set a $65.00 price target on Enlight Renewable Energy and gave the stock a “hold” rating in a research report on Thursday, April 9th. JPMorgan Chase & Co. increased their price target 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. UBS Group increased their price target on Enlight Renewable Energy from $105.00 to $123.00 and gave the stock a “buy” rating in a research report on Friday. Mizuho set a $37.00 price target on Enlight Renewable Energy in a research report on Monday, February 23rd. Finally, Barclays reissued an “overweight” rating on shares of Enlight Renewable Energy in a research report 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $63.17.

Institutional Investors Weigh In On Enlight Renewable Energy

Several hedge funds have recently modified their holdings of the company. Amundi raised its position in Enlight Renewable Energy by 2.3% during the 1st quarter. Amundi now owns 74,681 shares of the company’s stock worth $1,160,000 after purchasing an additional 1,647 shares during the last quarter. Geode Capital Management LLC raised its position in Enlight Renewable Energy by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 108,157 shares of the company’s stock worth $2,458,000 after purchasing an additional 773 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Enlight Renewable Energy during the 2nd quarter worth $815,000. First Trust Advisors LP raised its position in Enlight Renewable Energy by 9.6% during the 2nd quarter. First Trust Advisors LP now owns 70,516 shares of the company’s stock worth $1,600,000 after purchasing an additional 6,201 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in Enlight Renewable Energy by 9.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 279,789 shares of the company’s stock worth $6,348,000 after purchasing an additional 24,653 shares during the last quarter. Institutional investors and hedge funds own 38.89% of the company’s stock.

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.