Enlight Renewable Energy (NASDAQ:ENLT) Stock: Insider Ilan Goren Sells 2,700 Shares

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) insider Ilan Goren sold 2,700 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $64.81, for a total transaction of $174,987.00. Following the completion of the transaction, the insider directly owned 40,135 shares in the company, valued at $2,601,149.35. This trade represents a 6.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Enlight Renewable Energy Price Performance

Shares of ENLT opened at $67.58 on Wednesday. Enlight Renewable Energy Ltd. has a 1-year low of $31.61 and a 1-year high of $108.65. The stock has a market cap of $8.01 billion, a PE ratio of 109.00, a price-to-earnings-growth ratio of 51.55 and a beta of 1.70. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a fifty day moving average price of $77.24 and a 200 day moving average price of $82.91.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $0.20 earnings per share (EPS) for the quarter. Enlight Renewable Energy had a return on equity of 3.52% and a net margin of 12.35%.The company had revenue of $165.99 million for the quarter. As a group, sell-side analysts anticipate that Enlight Renewable Energy Ltd. will post 0.35 EPS for the current year.

Hedge Funds Weigh In On Enlight Renewable Energy

Several institutional investors have recently added to or reduced their stakes in ENLT. Public Employees Retirement System of Ohio grew its stake in shares of Enlight Renewable Energy by 0.3% in the 1st quarter. Public Employees Retirement System of Ohio now owns 48,095 shares of the company’s stock valued at $3,185,000 after purchasing an additional 127 shares during the last quarter. Quantinno Capital Management LP raised its stake in shares of Enlight Renewable Energy by 2.7% during the first quarter. Quantinno Capital Management LP now owns 6,506 shares of the company’s stock worth $435,000 after purchasing an additional 170 shares during the last quarter. Orion Capital Management LLC purchased a new stake in shares of Enlight Renewable Energy during the second quarter worth approximately $26,000. Versant Capital Management Inc acquired a new stake in shares of Enlight Renewable Energy during the second quarter worth $34,000. Finally, State of Wyoming acquired a new stake in shares of Enlight Renewable Energy during the first quarter worth $41,000. Institutional investors and hedge funds own 38.89% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on ENLT. Weiss Ratings downgraded Enlight Renewable Energy from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, September 18th. Truist Financial reduced their price objective on Enlight Renewable Energy from $106.00 to $104.00 and set a “buy” rating for the company in a research note on Monday, September 28th. UBS Group decreased their price objective on Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Wall Street Zen lowered shares of Enlight Renewable Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Barclays lifted their target price on shares of Enlight Renewable Energy from $83.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, July 20th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $74.71.

About Enlight Renewable Energy

Enlight Renewable Energy Ltd. is a renewable energy company that develops, finances, constructs, owns and operates utility-scale clean energy projects. Its portfolio includes solar photovoltaic, wind energy and energy storage facilities, with activities spanning project development through long-term asset ownership and operations.

The company serves electricity markets in Israel, the United States and several European countries. Its business is focused on expanding renewable generation and storage capacity, often through projects that combine intermittent renewable resources with storage technology to support grid reliability and power delivery.

Enlight was established in Israel and has developed into an international renewable energy platform.