Amit Paz Sells 4,329 Shares of Enlight Renewable Energy (NASDAQ:ENLT) Stock

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) insider Amit Paz sold 4,329 shares of Enlight Renewable Energy stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $76.57, for a total value of $331,471.53. Following the sale, the insider directly owned 279,683 shares in the company, valued at $21,415,327.31. The trade was a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Monday, September 14th, Amit Paz sold 2,221 shares of Enlight Renewable Energy stock. The shares were sold at an average price of $73.94, for a total value of $164,220.74.

Enlight Renewable Energy Trading Down 4.9%

Shares of ENLT opened at $69.55 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.31. The stock has a market cap of $8.25 billion, a PE ratio of 112.18, a PEG ratio of 57.17 and a beta of 1.65. Enlight Renewable Energy Ltd. has a 1 year low of $28.03 and a 1 year high of $108.65. The stock has a 50 day simple moving average of $82.48 and a 200-day simple moving average of $83.20.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.20 EPS for the quarter. Enlight Renewable Energy had a return on equity of 3.52% and a net margin of 12.35%.The business had revenue of $165.99 million for the quarter. On average, sell-side analysts predict that Enlight Renewable Energy Ltd. will post 0.35 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Trading of Enlight Renewable Energy

Several large investors have recently made changes to their positions in ENLT. Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of Enlight Renewable Energy by 18.2% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 11,688,077 shares of the company’s stock valued at $774,113,000 after buying an additional 1,797,936 shares during the last quarter. Altshuler Shaham Ltd grew its holdings in Enlight Renewable Energy by 705.5% during the 1st quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company’s stock worth $311,645,000 after acquiring an additional 4,127,573 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Enlight Renewable Energy by 68.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 995,347 shares of the company’s stock worth $66,126,000 after acquiring an additional 404,304 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Enlight Renewable Energy by 121.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 505,792 shares of the company’s stock worth $33,527,000 after acquiring an additional 277,179 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Enlight Renewable Energy by 376.4% in the 1st quarter. Bank of America Corp DE now owns 476,289 shares of the company’s stock valued at $32,511,000 after acquiring an additional 376,309 shares in the last quarter. Institutional investors own 38.89% of the company’s stock.

About Enlight Renewable Energy

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.