Enlight Renewable Energy (NASDAQ:ENLT) Insider Sells 2,221 Shares of Stock

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) insider Amit Paz sold 2,221 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $73.94, for a total transaction of $164,220.74. Following the completion of the transaction, the insider owned 277,462 shares of the company’s stock, valued at approximately $20,515,540.28. The trade was a 0.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Amit Paz also recently made the following trade(s):

• On Wednesday, September 9th, Amit Paz sold 4,329 shares of Enlight Renewable Energy stock. The shares were sold at an average price of $76.57, for a total value of $331,471.53.

Enlight Renewable Energy Stock Performance

Shares of ENLT opened at $73.13 on Tuesday. The company has a market cap of $8.67 billion, a price-to-earnings ratio of 117.95, a P/E/G ratio of 58.03 and a beta of 1.65. The business’s fifty day simple moving average is $82.73 and its two-hundred day simple moving average is $83.19. Enlight Renewable Energy Ltd. has a 12 month low of $28.03 and a 12 month high of $108.65. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.31.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.20 earnings per share for the quarter. The firm had revenue of $165.99 million during the quarter. Enlight Renewable Energy had a return on equity of 3.52% and a net margin of 12.35%. Research analysts anticipate that Enlight Renewable Energy Ltd. will post 0.35 earnings per share for the current fiscal year.

Institutional Trading of Enlight Renewable Energy

Hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its holdings in Enlight Renewable Energy by 0.3% in the first quarter. Public Employees Retirement System of Ohio now owns 48,095 shares of the company’s stock valued at $3,185,000 after acquiring an additional 127 shares during the period. Quantinno Capital Management LP grew its stake in shares of Enlight Renewable Energy by 2.7% during the 1st quarter. Quantinno Capital Management LP now owns 6,506 shares of the company’s stock valued at $435,000 after purchasing an additional 170 shares during the period. Orion Capital Management LLC bought a new stake in shares of Enlight Renewable Energy during the 2nd quarter valued at about $26,000. Versant Capital Management Inc purchased a new stake in shares of Enlight Renewable Energy during the 2nd quarter valued at about $34,000. Finally, State of Wyoming purchased a new stake in shares of Enlight Renewable Energy during the 1st quarter valued at about $41,000. Hedge funds and other institutional investors own 38.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ENLT shares. Truist Financial assumed coverage on Enlight Renewable Energy in a research report on Monday, July 13th. They issued a “buy” rating and a $106.00 target price for the company. Wall Street Zen downgraded shares of Enlight Renewable Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings upgraded shares of Enlight Renewable Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, September 3rd. UBS Group decreased their price objective on shares of Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Finally, Barclays increased their price objective on shares of Enlight Renewable Energy from $83.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $75.00.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd. is a renewable energy company that develops, finances, constructs, owns and operates utility-scale clean energy projects. Its activities focus primarily on solar photovoltaic, wind energy and energy storage systems, with projects designed to generate electricity and support the reliability and flexibility of power grids.

The company manages projects across multiple stages of the renewable energy value chain, including site development, permitting, power purchase arrangements, construction and long-term operation.