Enlight Renewable Energy (NASDAQ:ENLT) VP Israeli Ayelet Cohen Sells 10,123 Shares

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) VP Israeli Ayelet Cohen sold 10,123 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $108.50, for a total transaction of $1,098,345.50. Following the completion of the transaction, the vice president directly owned 20,974 shares in the company, valued at approximately $2,275,679. This represents a 32.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Enlight Renewable Energy Stock Down 0.6%

Enlight Renewable Energy stock opened at $104.56 on Wednesday. The stock has a market cap of $12.40 billion, a P/E ratio of 243.17, a P/E/G ratio of 38.12 and a beta of 1.56. 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 $18.22 and a twelve month high of $108.65. The company’s 50-day moving average price is $83.54 and its two-hundred day moving average price is $64.32.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share for the quarter. The firm 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%. As a group, analysts expect that Enlight Renewable Energy Ltd. will post 0.29 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ENLT. JPMorgan Chase & Co. increased their target price on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 6th. Mizuho set a $37.00 target price on shares of Enlight Renewable Energy in a research report on Monday, February 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. UBS Group increased their target price on shares of Enlight Renewable Energy from $105.00 to $123.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Finally, Barclays restated 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 assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $63.17.

Institutional Trading of Enlight Renewable Energy

Several large investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its position in shares of Enlight Renewable Energy by 376.4% during the 1st quarter. Bank of America Corp DE now owns 476,289 shares of the company’s stock worth $32,511,000 after acquiring an additional 376,309 shares in the last quarter. Altshuler Shaham Ltd boosted its position in shares of Enlight Renewable Energy by 705.5% during the 1st quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company’s stock worth $311,645,000 after acquiring an additional 4,127,573 shares in the last quarter. Amundi boosted its position in shares of Enlight Renewable Energy by 13.8% during the 1st quarter. Amundi now owns 248,834 shares of the company’s stock worth $16,985,000 after acquiring an additional 30,126 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Enlight Renewable Energy by 2.7% during the 1st quarter. Quantinno Capital Management LP now owns 6,506 shares of the company’s stock worth $435,000 after acquiring an additional 170 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Enlight Renewable Energy during the 1st quarter worth approximately $2,305,000. 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.