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 stock was sold at an average price of $93.68, for a total value of $6,879,484.48. Following the transaction, the director owned 396,655 shares of the company’s stock, valued at approximately $37,158,640.40. The trade was a 15.62% 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 this hyperlink.

Enlight Renewable Energy Stock Performance

NASDAQ:ENLT opened at $92.25 on Tuesday. Enlight Renewable Energy Ltd. has a 1 year low of $16.88 and a 1 year high of $96.00. The stock has a market cap of $10.94 billion, a price-to-earnings ratio of 214.54, a PEG ratio of 33.42 and a beta of 1.51. The business has a fifty day moving average of $80.59 and a 200-day moving average of $61.89. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.77 and a current ratio of 0.77.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on ENLT. JPMorgan Chase & Co. increased 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. Barclays reissued an “overweight” rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. Mizuho set a $37.00 price objective on Enlight Renewable Energy in a research note on Monday, February 23rd. UBS Group increased 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. 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 research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $60.17.

Institutional Investors Weigh In On Enlight Renewable Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Enlight Renewable Energy by 26.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 57,621 shares of the company’s stock worth $2,618,000 after buying an additional 11,994 shares during the period. Y.D. More Investments Ltd increased its position in Enlight Renewable Energy by 4.5% in the 4th quarter. Y.D. More Investments Ltd now owns 5,837,263 shares of the company’s stock worth $264,965,000 after buying an additional 252,446 shares during the period. Vanguard Group Inc. increased its position in Enlight Renewable Energy by 11.3% in the 4th quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company’s stock worth $225,058,000 after buying an additional 503,060 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Enlight Renewable Energy by 61.5% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 22,745 shares of the company’s stock worth $709,000 after buying an additional 8,664 shares during the period. Finally, Citigroup Inc. increased its position in Enlight Renewable Energy by 465.1% in the 3rd quarter. Citigroup Inc. now owns 110,153 shares of the company’s stock worth $3,398,000 after buying an additional 90,662 shares during the period. 38.89% of the stock is owned by institutional investors and hedge funds.

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.