Enlight Renewable Energy (NASDAQ:ENLT) Insider Sells $164,220.74 in Stock

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) insider Amit Paz sold 2,221 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $73.94, for a total transaction of $164,220.74. Following the completion of the sale, the insider owned 277,462 shares in the company, valued at $20,515,540.28. This represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Amit Paz also recently made the following trade(s):

• On Wednesday, September 9th, Amit Paz sold 4,329 shares of Enlight Renewable Energy stock. The shares were sold at an average price of $76.57, for a total transaction of $331,471.53.

Enlight Renewable Energy Trading Up 4.4%

Enlight Renewable Energy stock opened at $74.77 on Friday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.12 and a current ratio of 1.12. Enlight Renewable Energy Ltd. has a fifty-two week low of $28.05 and a fifty-two week high of $108.65. The stock has a market cap of $8.87 billion, a P/E ratio of 120.60, a PEG ratio of 55.97 and a beta of 1.65. The firm’s fifty day moving average price is $82.10 and its 200-day moving average price is $83.26.

Enlight Renewable Energy (NASDAQ:ENLT) last posted 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 during the quarter. Equities research analysts forecast that Enlight Renewable Energy Ltd. will post 0.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Tidal Investments LLC boosted its holdings in Enlight Renewable Energy by 9.8% during the 2nd quarter. Tidal Investments LLC now owns 27,273 shares of the company’s stock valued at $2,428,000 after acquiring an additional 2,427 shares during the period. Orion Capital Management LLC bought a new stake in Enlight Renewable Energy in the second quarter valued at approximately $26,000. Navellier & Associates Inc. purchased a new stake in shares of Enlight Renewable Energy during the second quarter valued at approximately $3,475,000. Public Employees Retirement System of Ohio bought a new position in shares of Enlight Renewable Energy in the second quarter worth approximately $751,000. Finally, Versant Capital Management Inc purchased a new position in shares of Enlight Renewable Energy in the second quarter worth $34,000. Hedge funds and other institutional investors own 38.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Barclays upped their price objective on shares of Enlight Renewable Energy from $83.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. UBS Group decreased their price target on shares of Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Truist Financial started coverage on shares of Enlight Renewable Energy in a report on Monday, July 13th. They set a “buy” rating and a $106.00 price objective for the company. Weiss Ratings raised Enlight Renewable Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, September 3rd. Finally, Wall Street Zen lowered Enlight Renewable Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Enlight Renewable Energy currently has an average rating of “Hold” and an average price target of $75.00.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd. is a renewable energy company that develops, finances, constructs, owns and operates utility-scale clean energy projects. Its activities focus primarily on solar photovoltaic, wind energy and energy storage systems, with projects designed to generate electricity and support the reliability and flexibility of power grids.

The company manages projects across multiple stages of the renewable energy value chain, including site development, permitting, power purchase arrangements, construction and long-term operation.