Enlight Renewable Energy (NASDAQ:ENLT) Director Yitzhak Betzalel Sells 2,062 Shares

Key Points

• Director Yitzhak Betzalel sold 2,062 shares of Enlight Renewable Energy on May 28 at an average price of $103.64, worth about $213,706. After the sale, he held just 2 shares, a nearly complete exit from the position.
• The stock has surged recently, trading up 1.4% to $103.89 and reaching a 1-year high near $106.47. Its jump appears tied to a newly announced 200 MW solar power purchase agreement with Google for Oklahoma data center operations.
• Analysts remain cautious overall, with MarketBeat showing a consensus rating of “Hold” and an average price target of $60.17. The article also notes heavy insider selling and some valuation concerns after the sharp rally.

Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Get Free Report) Director Yitzhak Betzalel sold 2,062 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $103.64, for a total value of $213,705.68. Following the completion of the sale, the director owned 2 shares of the company's stock, valued at approximately $207.28. This trade represents a 99.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Yitzhak Betzalel also recently made the following trade(s):

• On Wednesday, May 27th, Yitzhak Betzalel sold 1,346 shares of Enlight Renewable Energy stock. The shares were sold at an average price of $101.73, for a total transaction of $136,928.58.

Enlight Renewable Energy Stock Up 1.4%

NASDAQ:ENLT traded up $1.39 during trading hours on Thursday, hitting $103.89. The stock had a trading volume of 398,058 shares, compared to its average volume of 156,401. 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 Ltd. has a 1-year low of $18.22 and a 1-year high of $106.47. The business has a 50 day simple moving average of $81.80 and a two-hundred day simple moving average of $62.85. The company has a market cap of $12.32 billion, a PE ratio of 241.42, a price-to-earnings-growth ratio of 37.52 and a beta of 1.51.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last issued 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 company had revenue of $156.49 million during the quarter. Analysts predict that Enlight Renewable Energy Ltd. will post 0.29 EPS for the current year.

Institutional Investors Weigh In On Enlight Renewable Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. State of Wyoming bought a new stake in shares of Enlight Renewable Energy during the first quarter valued at about $41,000. BNP Paribas Financial Markets raised its stake in shares of Enlight Renewable Energy by 256.1% during the second quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company's stock valued at $28,000 after purchasing an additional 881 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Enlight Renewable Energy during the fourth quarter valued at about $56,000. Walleye Capital LLC bought a new stake in shares of Enlight Renewable Energy during the first quarter valued at about $240,000. Finally, Savant Capital LLC bought a new stake in shares of Enlight Renewable Energy during the fourth quarter valued at about $241,000. 38.89% of the stock is currently owned by institutional investors.

Enlight Renewable Energy News Summary

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

• Positive Sentiment: Enlight signed a 200 MW AC solar power purchase agreement with Google to help power data center operations in Oklahoma. The deal is a meaningful win for the company’s U.S. growth strategy and suggests expanding demand for its renewable energy projects. Article Title
• Positive Sentiment: Several reports noted a sharp share-price surge following the Google announcement, reinforcing the view that the contract is the main catalyst behind ENLT’s recent rally. Article Title
• Neutral Sentiment: One valuation-focused note said the stock’s move may have pushed it into overvalued territory by some measures, which could lead investors to be more cautious after the recent run-up. Article Title
• Negative Sentiment: Multiple insiders sold shares this week, including VP Lisa Haimovitz, insider Amit Paz, and reports of additional sales by senior executives. Heavy insider selling can raise concerns that management sees limited near-term upside after the stock’s sharp climb. Article Title

Wall Street Analyst Weigh In

ENLT has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft set a $65.00 price objective on shares of Enlight Renewable Energy and gave the company a "hold" rating in a research report on Thursday, April 9th. Mizuho set a $37.00 price objective on shares of Enlight Renewable Energy in a research report on Monday, February 23rd. JPMorgan Chase & Co. increased their price objective on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the company an "underweight" rating in a research report on Wednesday, May 6th. Barclays reiterated an "overweight" rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. Three equities 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 data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $60.17.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.