Israeli Ayelet Cohen Sells 10,123 Shares of Enlight Renewable Energy (NASDAQ:ENLT) Stock

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) VP Israeli Ayelet Cohen sold 10,123 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $108.50, for a total transaction of $1,098,345.50. Following the transaction, the vice president directly owned 20,974 shares of the company’s stock, valued at approximately $2,275,679. This represents a 32.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Enlight Renewable Energy Price Performance

Shares of ENLT stock opened at $95.95 on Thursday. The firm has a market cap of $11.38 billion, a P/E ratio of 223.14, a P/E/G ratio of 37.88 and a beta of 1.56. 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 Ltd. has a 1-year low of $18.22 and a 1-year high of $108.65. The firm has a fifty day moving average of $84.63 and a two-hundred day moving average of $65.19.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.16 earnings per share for the quarter. The company had revenue of $156.49 million during the quarter. Enlight Renewable Energy had a net margin of 9.47% and a return on equity of 2.48%. As a group, research analysts anticipate that Enlight Renewable Energy Ltd. will post 0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enlight Renewable Energy

Several large investors have recently added to or reduced their stakes in ENLT. Amundi increased its position in Enlight Renewable Energy by 2.3% in the first quarter. Amundi now owns 74,681 shares of the company’s stock worth $1,160,000 after buying an additional 1,647 shares during the period. Geode Capital Management LLC increased its position in Enlight Renewable Energy by 0.7% in the second quarter. Geode Capital Management LLC now owns 108,157 shares of the company’s stock worth $2,458,000 after buying an additional 773 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Enlight Renewable Energy in the second quarter worth $815,000. First Trust Advisors LP increased its position in Enlight Renewable Energy by 9.6% in the second quarter. First Trust Advisors LP now owns 70,516 shares of the company’s stock worth $1,600,000 after buying an additional 6,201 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in Enlight Renewable Energy by 9.7% in the second quarter. Canada Pension Plan Investment Board now owns 279,789 shares of the company’s stock worth $6,348,000 after buying an additional 24,653 shares during the period. 38.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Barclays restated an “overweight” rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. JPMorgan Chase & Co. raised 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. Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. Finally, 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. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $63.17.

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.