Enlight Renewable Energy (NASDAQ:ENLT) Insider Ilan Goren Sells 26,622 Shares

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) insider Ilan Goren sold 26,622 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $103.76, for a total value of $2,762,298.72. Following the transaction, the insider directly owned 42,835 shares in the company, valued at approximately $4,444,559.60. The trade was a 38.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Enlight Renewable Energy Trading Up 0.6%

Shares of NASDAQ:ENLT traded up $0.61 during trading hours on Thursday, hitting $103.11. 266,174 shares of the company’s stock traded hands, compared to its average volume of 154,420. The business has a fifty day moving average price of $81.80 and a 200-day moving average price of $62.85. Enlight Renewable Energy Ltd. has a 1 year low of $18.22 and a 1 year high of $106.47. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market capitalization of $12.23 billion, a P/E ratio of 240.21, a price-to-earnings-growth ratio of 37.52 and a beta of 1.51.

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

Enlight Renewable Energy News Summary

Here are the key news stories impacting Enlight Renewable Energy this week:

• Positive Sentiment: Enlight Renewable Energy secured a 200 MW solar power purchase agreement with Google for Oklahoma data center operations, a material commercial win that could support future revenue growth. Article Title
• Neutral Sentiment: Analysts and valuation-focused commentary noted the stock’s sharp run-up, but also said shares appear expensive on some measures, which may temper upside expectations. Article Title
• Negative Sentiment: Multiple insiders, including VP Lisa Haimovitz and insider Amit Paz, sold shares in recent days. Heavy insider selling can make investors cautious after a strong move higher. Article Title

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft set a $65.00 price target on shares of Enlight Renewable Energy and gave the stock a “hold” rating in a research note on Thursday, April 9th. UBS Group raised their target price on Enlight Renewable Energy from $93.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Mizuho set a $37.00 target price on shares of Enlight Renewable Energy in a research note on Monday, February 23rd. Finally, Barclays reissued an “overweight” rating on shares of Enlight Renewable Energy in a research report on Wednesday, February 18th. Three 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $60.17.

Institutional Trading of Enlight Renewable Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in ENLT. BNP Paribas Financial Markets raised its holdings in shares of Enlight Renewable Energy by 256.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock valued at $28,000 after buying an additional 881 shares in the last quarter. State of Wyoming bought a new position in Enlight Renewable Energy in the 1st quarter worth $41,000. V Square Quantitative Management LLC purchased a new position in Enlight Renewable Energy during the fourth quarter valued at $56,000. Walleye Capital LLC purchased a new stake in shares of Enlight Renewable Energy during the 1st quarter valued at about $240,000. Finally, Savant Capital LLC bought a new stake in shares of Enlight Renewable Energy during the 4th quarter worth approximately $241,000. 38.89% of the stock is currently owned by institutional investors.

About Enlight Renewable Energy

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.