Enlight Renewable Energy (NASDAQ:ENLT) SVP Meron Carr Sells 3,329 Shares of Stock

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) SVP Meron Carr sold 3,329 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $103.44, for a total transaction of $344,351.76. Following the completion of the sale, the senior vice president owned 42,465 shares in the company, valued at $4,392,579.60. The trade was a 7.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Meron Carr also recently made the following trade(s):

• On Wednesday, May 27th, Meron Carr sold 3,074 shares of Enlight Renewable Energy stock. The shares were sold at an average price of $103.88, for a total transaction of $319,327.12.

Enlight Renewable Energy Price Performance

Shares of ENLT opened at $102.70 on Friday. Enlight Renewable Energy Ltd. has a twelve month low of $18.22 and a twelve month high of $106.47. The firm’s fifty day simple moving average is $82.36 and its 200-day simple moving average is $63.33. The firm has a market capitalization of $12.18 billion, a price-to-earnings ratio of 238.84, a PEG ratio of 37.13 and a beta of 1.51. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.68.

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. Enlight Renewable Energy had a net margin of 9.47% and a return on equity of 2.48%. The business had revenue of $156.49 million for the quarter. Equities analysts forecast that Enlight Renewable Energy Ltd. will post 0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its stake in shares of Enlight Renewable Energy by 0.3% during the first quarter. Public Employees Retirement System of Ohio now owns 48,095 shares of the company’s stock worth $3,185,000 after acquiring an additional 127 shares during the period. Quantinno Capital Management LP increased its stake in shares of Enlight Renewable Energy by 2.7% during the first quarter. Quantinno Capital Management LP now owns 6,506 shares of the company’s stock worth $435,000 after acquiring an additional 170 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Enlight Renewable Energy by 0.9% during the fourth quarter. Advisors Asset Management Inc. now owns 26,865 shares of the company’s stock worth $1,221,000 after acquiring an additional 251 shares during the period. Mariner LLC increased its stake in shares of Enlight Renewable Energy by 4.1% during the third quarter. Mariner LLC now owns 10,070 shares of the company’s stock worth $314,000 after acquiring an additional 396 shares during the period. Finally, State of Wyoming acquired a new position in shares of Enlight Renewable Energy during the first quarter worth about $41,000. 38.89% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Enlight Renewable Energy

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

• Positive Sentiment: Enlight’s Google solar PPA adds a high-profile customer, expands its U.S. commercial presence, and reinforces revenue visibility from long-term clean energy contracts. Article Title
• Positive Sentiment: Analysts have raised price targets recently, with UBS lifting its target to $105 and keeping a buy rating, which may be helping sentiment around the stock’s strong run.
• Neutral Sentiment: Hedge funds and other institutions remain active in the name, with several recent stake additions indicating continued interest from professional investors.
• Negative Sentiment: Multiple insiders have sold shares over the past several days, including SVP Meron Carr, Director Yitzhak Betzalel, insider Ilan Goren, and VP Lisa Haimovitz. Heavy insider selling can make some investors cautious after the stock’s sharp rally. Article Title

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Barclays restated an “overweight” rating on shares of Enlight Renewable Energy in a report on Wednesday, February 18th. Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. JPMorgan Chase & Co. lifted 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 note on Wednesday, May 6th. UBS Group lifted their price target on shares of Enlight Renewable Energy from $93.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, 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. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.