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

Key Points

• Insider sale: Amit Paz sold 2,221 Enlight Renewable Energy shares for approximately $164,221, reducing his stake by 0.79% to 277,462 shares. He also sold 4,329 shares earlier in September.
• Stock and financial performance: ENLT opened at $73.13, down 1.5%, and recently reported quarterly EPS of $0.20 on $165.99 million in revenue. The company has a market capitalization of $8.67 billion and a high P/E ratio of 117.95.
• Analyst sentiment is mixed: Ratings range from Strong Buy to Sell, with an overall “Hold” consensus and an average price target of $75.00. Institutional investors own 38.89% of the company’s shares.

Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Get Free Report) insider Amit Paz sold 2,221 shares of the business's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $73.94, for a total value of $164,220.74. Following the transaction, the insider owned 277,462 shares in the company, valued at approximately $20,515,540.28. This represents a 0.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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 stock was sold at an average price of $76.57, for a total value of $331,471.53.

Enlight Renewable Energy Trading Down 1.5%

NASDAQ ENLT opened at $73.13 on Tuesday. The stock has a market cap of $8.67 billion, a P/E ratio of 117.95, a price-to-earnings-growth ratio of 58.03 and a beta of 1.65. Enlight Renewable Energy Ltd. has a fifty-two week low of $28.03 and a fifty-two week high of $108.65. The stock has a 50 day simple moving average of $82.73 and a two-hundred day simple moving average of $83.19. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.12 and a current ratio of 1.12.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Tidal Investments LLC increased its position in Enlight Renewable Energy by 9.8% during the 2nd quarter. Tidal Investments LLC now owns 27,273 shares of the company's stock valued at $2,428,000 after buying an additional 2,427 shares in the last quarter. Orion Capital Management LLC purchased a new stake in Enlight Renewable Energy during the 2nd quarter valued at about $26,000. Navellier & Associates Inc. bought a new stake in Enlight Renewable Energy during the 2nd quarter valued at about $3,475,000. Public Employees Retirement System of Ohio bought a new stake in Enlight Renewable Energy during the 2nd quarter valued at about $751,000. Finally, Versant Capital Management Inc bought a new stake in Enlight Renewable Energy during the 2nd quarter valued at about $34,000. 38.89% of the stock is currently owned by institutional investors.

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.

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