Insider Selling: Enlight Renewable Energy (NASDAQ:ENLT) Director Sells 73,436 Shares of Stock

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Director Shai Yeshayahu Weil sold 73,436 shares of the company’s stock in a transaction on Monday, May 25th. The shares were sold at an average price of $93.68, for a total value of $6,879,484.48. Following the completion of the sale, the director owned 396,655 shares in the company, valued at $37,158,640.40. This trade represents a 15.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Enlight Renewable Energy Stock Performance

Shares of NASDAQ:ENLT opened at $92.25 on Tuesday. The business’s fifty day moving average price is $80.59 and its two-hundred day moving average price is $61.89. Enlight Renewable Energy Ltd. has a fifty-two week low of $16.88 and a fifty-two week high of $96.00. The stock has a market capitalization of $10.94 billion, a price-to-earnings ratio of 214.54, a price-to-earnings-growth ratio of 33.42 and a beta of 1.51. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.77 and a quick ratio of 0.77.

Enlight Renewable Energy (NASDAQ:ENLT) last announced 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 return on equity of 2.48% and a net margin of 9.47%. As a group, analysts predict that Enlight Renewable Energy Ltd. will post 0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Enlight Renewable Energy

Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its stake in shares of Enlight Renewable Energy by 256.1% during the second quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock valued at $28,000 after acquiring an additional 881 shares during the period. State of Wyoming acquired a new position in shares of Enlight Renewable Energy during the first quarter valued at $41,000. V Square Quantitative Management LLC acquired a new position in shares of Enlight Renewable Energy during the fourth quarter valued at $56,000. Walleye Capital LLC acquired a new position in shares of Enlight Renewable Energy during the first quarter valued at $240,000. Finally, Savant Capital LLC acquired a new position in shares of Enlight Renewable Energy during the fourth quarter valued at $241,000. Institutional investors and hedge funds own 38.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on ENLT. UBS Group boosted their price objective on Enlight Renewable Energy from $93.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. boosted their price objective on Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 6th. Mizuho set a $37.00 price objective on Enlight Renewable Energy in a research note on Monday, February 23rd. Deutsche Bank Aktiengesellschaft set a $65.00 price objective on Enlight Renewable Energy and gave the stock a “hold” rating in a research note on Thursday, April 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Enlight Renewable Energy presently has an average rating of “Hold” and an average price target of $60.17.

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.