Enlight Renewable Energy (NASDAQ:ENLT) Chairman Sells $9,178,000.00 in Stock

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Chairman Gilad Yavetz sold 100,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $91.78, for a total transaction of $9,178,000.00. Following the transaction, the chairman directly owned 846,436 shares of the company’s stock, valued at approximately $77,685,896.08. This trade represents a 10.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Enlight Renewable Energy Trading Down 6.5%

Shares of ENLT stock opened at $85.87 on Friday. The firm has a market cap of $10.18 billion, a PE ratio of 199.70, a price-to-earnings-growth ratio of 25.00 and a beta of 1.51. 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 50-day moving average of $78.73 and a two-hundred day moving average of $59.46. Enlight Renewable Energy Ltd. has a 1-year low of $16.87 and a 1-year high of $96.00.

Enlight Renewable Energy (NASDAQ:ENLT) last released its earnings results 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 return on equity of 2.48% and a net margin of 9.47%. On average, analysts predict that Enlight Renewable Energy Ltd. will post 0.37 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft set a $65.00 target price on Enlight Renewable Energy and gave the company a “hold” rating in a research report on Thursday, April 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. Barclays reaffirmed an “overweight” rating on shares of Enlight Renewable Energy in a research report on Wednesday, February 18th. JPMorgan Chase & Co. lifted their target price on Enlight Renewable Energy from $57.00 to $68.00 and gave the company an “underweight” rating in a research report on Wednesday, May 6th. 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $60.17.

Hedge Funds Weigh In On Enlight Renewable Energy

Several hedge funds and other institutional investors have recently made changes to their positions in ENLT. BNP Paribas Financial Markets boosted its stake in shares of Enlight Renewable Energy by 256.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock valued at $28,000 after buying an additional 881 shares during the period. State of Wyoming purchased a new stake in Enlight Renewable Energy during the first quarter worth approximately $41,000. V Square Quantitative Management LLC purchased a new stake in Enlight Renewable Energy during the fourth quarter worth approximately $56,000. Walleye Capital LLC purchased a new stake in Enlight Renewable Energy during the first quarter worth approximately $240,000. Finally, Savant Capital LLC purchased a new stake in Enlight Renewable Energy during the fourth quarter worth approximately $241,000. Hedge funds and other institutional investors 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.