Enlight Renewable Energy (NASDAQ:ENLT) Insider Sells $2,762,298.72 in Stock

Key Points

• Insider sale: Enlight Renewable Energy insider Ilan Goren sold 26,622 shares for about $2.76 million at an average price of $103.76, cutting his direct stake by 38.33%.
• Stock performance: Shares rose to $103.11 in Thursday trading, near the 52-week high of $106.47, after a strong run that has pushed the stock far above its 50-day and 200-day moving averages.
• Mixed sentiment: Recent analyst coverage is split, with a Hold consensus and a $60.17 price target, while institutional ownership remains significant at 38.89% and recent insider selling has drawn caution.

Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Get Free Report) insider Ilan Goren sold 26,622 shares of the company's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $103.76, for a total transaction of $2,762,298.72. Following the transaction, the insider directly owned 42,835 shares in the company, valued at $4,444,559.60. The trade was a 38.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Enlight Renewable Energy Stock Performance

Enlight Renewable Energy stock traded up $0.61 during midday trading on Thursday, reaching $103.11. 266,174 shares of the stock traded hands, compared to its average volume of 154,420. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.68. The firm has a market cap of $12.23 billion, a price-to-earnings ratio of 240.21, a PEG ratio of 37.52 and a beta of 1.51. The firm has a fifty day moving average price of $81.80 and a two-hundred day moving average price of $62.85. Enlight Renewable Energy Ltd. has a fifty-two week low of $18.22 and a fifty-two week high of $106.47.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.16 EPS 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 during the quarter. On average, equities research analysts forecast that Enlight Renewable Energy Ltd. will post 0.29 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Enlight Renewable Energy by 26.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 57,621 shares of the company's stock valued at $2,618,000 after buying an additional 11,994 shares during the period. Y.D. More Investments Ltd raised its holdings in shares of 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 acquiring an additional 252,446 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Enlight Renewable Energy by 11.3% during the 4th quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company's stock valued at $225,058,000 after purchasing an additional 503,060 shares during the last quarter. Citigroup Inc. boosted its holdings 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. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of 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 valued at $709,000 after acquiring an additional 8,664 shares in the last quarter. 38.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ENLT shares. Deutsche Bank Aktiengesellschaft set a $65.00 price target on shares of Enlight Renewable Energy and gave the company a "hold" rating in a report on Thursday, April 9th. Weiss Ratings reissued a "hold (c)" rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. Barclays reiterated an "overweight" rating on shares of Enlight Renewable Energy in a report on Wednesday, February 18th. Mizuho set a $37.00 price objective on shares of Enlight Renewable Energy in a research report on Monday, February 23rd. Finally, UBS Group boosted their price objective on shares of Enlight Renewable Energy from $93.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $60.17.

Trending Headlines about Enlight Renewable Energy

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

• Positive Sentiment: Enlight Renewable Energy secured a 200 MW solar power purchase agreement with Google for Oklahoma data center operations, a material commercial win that could support future revenue growth. Article Title
• Neutral Sentiment: Analysts and valuation-focused commentary noted the stock’s sharp run-up, but also said shares appear expensive on some measures, which may temper upside expectations. Article Title
• Negative Sentiment: Multiple insiders, including VP Lisa Haimovitz and insider Amit Paz, sold shares in recent days. Heavy insider selling can make investors cautious after a strong move higher. Article Title

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.

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