Insider Selling: Enlight Renewable Energy (NASDAQ:ENLT) Director Sells 2,500 Shares of Stock

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Director Alla Felder sold 2,500 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $102.48, for a total value of $256,200.00. Following the transaction, the director owned 2,612 shares in the company, valued at approximately $267,677.76. This trade represents a 48.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Enlight Renewable Energy Price Performance

NASDAQ ENLT opened at $107.42 on Monday. Enlight Renewable Energy Ltd. has a fifty-two week low of $18.22 and a fifty-two week high of $108.65. The stock’s 50-day moving average is $82.97 and its two-hundred day moving average is $63.84. 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 firm has a market cap of $12.74 billion, a P/E ratio of 249.82, a price-to-earnings-growth ratio of 38.92 and a beta of 1.56.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its earnings results 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 for the quarter. On average, analysts anticipate that Enlight Renewable Energy Ltd. will post 0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enlight Renewable Energy

A number of institutional investors have recently made changes to their positions in ENLT. BNP Paribas Financial Markets grew its position in Enlight Renewable Energy by 256.1% during the second quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock worth $28,000 after buying an additional 881 shares in the last quarter. State of Wyoming acquired a new stake in Enlight Renewable Energy during the first quarter worth about $41,000. V Square Quantitative Management LLC acquired a new stake in Enlight Renewable Energy during the fourth quarter worth about $56,000. Walleye Capital LLC acquired a new stake in Enlight Renewable Energy during the first quarter worth about $240,000. Finally, Savant Capital LLC acquired a new stake in Enlight Renewable Energy during the fourth quarter worth about $241,000. 38.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ENLT has been the topic of a number of recent analyst reports. 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. Mizuho set a $37.00 price objective on Enlight Renewable Energy in a research note on Monday, February 23rd. JPMorgan Chase & Co. lifted their price objective 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. Finally, UBS Group lifted their price objective on Enlight Renewable Energy from $105.00 to $123.00 and gave the stock a “buy” rating in a research note on Friday. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $63.17.

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.