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

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

Enlight Renewable Energy Price Performance

Enlight Renewable Energy stock traded up $10.40 during mid-day trading on Tuesday, reaching $102.65. The company had a trading volume of 204,476 shares, compared to its average volume of 152,882. Enlight Renewable Energy Ltd. has a 1 year low of $18.15 and a 1 year high of $103.83. 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 $12.17 billion, a P/E ratio of 238.73, a P/E/G ratio of 33.42 and a beta of 1.51. The stock’s 50-day simple moving average is $80.59 and its 200-day simple moving average is $61.89.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ENLT. Amundi increased its stake in shares of 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 in the last quarter. Geode Capital Management LLC increased its stake in shares of 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 in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Enlight Renewable Energy during the 2nd quarter worth approximately $815,000. First Trust Advisors LP increased its stake in shares of 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 in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of 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 in the last quarter. 38.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ENLT shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. Barclays reaffirmed an “overweight” rating on shares of Enlight Renewable Energy in a report on Wednesday, February 18th. UBS Group increased their target price on shares of Enlight Renewable Energy from $93.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. increased their target price on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the company an “underweight” rating in a report on Wednesday, May 6th. Finally, Mizuho set a $37.00 target price on shares of Enlight Renewable Energy in a report on Monday, February 23rd. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $60.17.

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.