Enlight Renewable Energy (NASDAQ:ENLT) CFO Sells $84,726.40 in Stock

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) CFO Nir Yehuda sold 1,276 shares of the business’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $66.40, for a total transaction of $84,726.40. Following the transaction, the chief financial officer directly owned 34,324 shares of the company’s stock, valued at approximately $2,279,113.60. This represents a 3.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Enlight Renewable Energy Trading Down 2.2%

Shares of NASDAQ:ENLT opened at $66.08 on Thursday. The company has a market cap of $7.84 billion, a P/E ratio of 106.58, a P/E/G ratio of 52.84 and a beta of 1.70. The stock’s 50-day moving average is $76.94 and its 200-day moving average is $82.83. Enlight Renewable Energy Ltd. has a 52-week low of $32.31 and a 52-week high of $108.65. 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 (NASDAQ:ENLT) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $0.20 earnings per share for the quarter. Enlight Renewable Energy had a return on equity of 3.52% and a net margin of 12.35%.The business had revenue of $165.99 million during the quarter. Equities research analysts predict that Enlight Renewable Energy Ltd. will post 0.35 earnings per share for the current year.

Institutional Trading of Enlight Renewable Energy

Institutional investors and hedge funds have recently modified their holdings of the company. Orion Capital Management LLC bought a new position in Enlight Renewable Energy in the second quarter worth $26,000. Versant Capital Management Inc bought a new stake in Enlight Renewable Energy in the 2nd quarter valued at $34,000. State of Wyoming acquired a new position in shares of Enlight Renewable Energy in the 1st quarter valued at $41,000. Walleye Capital LLC bought a new position in shares of Enlight Renewable Energy during the 1st quarter worth about $240,000. Finally, Savant Capital LLC bought a new position in shares of Enlight Renewable Energy during the 4th quarter worth about $241,000. 38.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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