Enlight Renewable Energy (NASDAQ:ENLT) Stock: Insider Nir Yehuda Sells 1,276 Shares

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) CFO Nir Yehuda sold 1,276 shares of the company’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $66.40, for a total value of $84,726.40. Following the completion of the sale, the chief financial officer owned 34,324 shares of the company’s stock, valued at approximately $2,279,113.60. This trade represents a 3.58% decrease in their position. The sale was disclosed in a document filed 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 Trading Up 2.5%

Shares of ENLT stock opened at $67.58 on Wednesday. The stock has a 50-day simple moving average of $77.24 and a 200 day simple moving average of $82.91. The stock has a market capitalization of $8.01 billion, a P/E ratio of 109.00, a P/E/G ratio of 51.55 and a beta of 1.70. Enlight Renewable Energy Ltd. has a fifty-two week low of $31.61 and a fifty-two week high of $108.65. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.31.

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

Wall Street Analyst Weigh In

Several analysts recently commented on ENLT shares. Weiss Ratings lowered shares of Enlight Renewable Energy from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, September 18th. 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. Truist Financial dropped their price target on Enlight Renewable Energy from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Monday, September 28th. Barclays increased their price objective on Enlight Renewable Energy from $83.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. Finally, UBS Group reduced their price objective on Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Enlight Renewable Energy has a consensus rating of “Hold” and an average target price of $74.71.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Clal Insurance Enterprises Holdings Ltd boosted its position in Enlight Renewable Energy by 18.2% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 11,688,077 shares of the company’s stock worth $774,113,000 after acquiring an additional 1,797,936 shares during the period. Altshuler Shaham Ltd increased its holdings in shares of Enlight Renewable Energy by 705.5% in the 1st quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company’s stock valued at $311,645,000 after purchasing an additional 4,127,573 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Enlight Renewable Energy by 68.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 995,347 shares of the company’s stock worth $66,126,000 after purchasing an additional 404,304 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Enlight Renewable Energy by 121.2% in the first quarter. Assenagon Asset Management S.A. now owns 505,792 shares of the company’s stock worth $33,527,000 after purchasing an additional 277,179 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Enlight Renewable Energy by 376.4% during the first quarter. Bank of America Corp DE now owns 476,289 shares of the company’s stock worth $32,511,000 after purchasing an additional 376,309 shares during the period. 38.89% of the stock is owned by institutional investors and hedge funds.

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.