Enlight Renewable Energy (NASDAQ:ENLT) CFO Nir Yehuda Sells 1,276 Shares of Stock

Key Points

• CFO Nir Yehuda sold 1,276 shares of Enlight Renewable Energy at an average price of $66.40, worth $84,726.40. The sale, representing a 3.58% reduction in his holdings, was made to cover tax withholding on vested equity awards.
• ENLT shares opened at $66.58, below their 50-day and 200-day moving averages of $78.14 and $83.04, respectively. The company reported quarterly revenue of $165.99 million and EPS of $0.20, while analysts expect full-year EPS of $0.35.
• Analyst sentiment is mixed, with four Buy, two Hold and two Sell ratings; the consensus rating is Hold with an average price target of $74.71. Institutional investors own 38.89% of the company, with several major holders increasing their positions.

Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Get Free Report) CFO Nir Yehuda sold 1,276 shares of the firm's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $66.40, for a total value of $84,726.40. Following the transaction, the chief financial officer owned 34,324 shares of the company's stock, valued at $2,279,113.60. This trade represents a 3.58% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Enlight Renewable Energy Stock Performance

Shares of ENLT stock opened at $66.58 on Monday. The business's 50 day simple moving average is $78.14 and its 200 day simple moving average is $83.04. Enlight Renewable Energy Ltd. has a one year low of $30.95 and a one year high of $108.65. The stock has a market capitalization of $7.89 billion, a PE ratio of 107.39, a PEG ratio of 52.05 and a beta of 1.70. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.12 and a quick ratio of 1.12.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ENLT shares. Weiss Ratings downgraded shares of Enlight Renewable Energy from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, September 18th. Wall Street Zen cut shares of Enlight Renewable Energy from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Barclays increased their price target on Enlight Renewable Energy from $83.00 to $89.00 and gave the stock an "overweight" rating in a report on Monday, July 20th. UBS Group lowered their price objective on 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. Finally, Truist Financial dropped their price objective on Enlight Renewable Energy from $106.00 to $104.00 and set a "buy" rating on the stock in a research note on Monday, September 28th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $74.71.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Altshuler Shaham Ltd grew its holdings in Enlight Renewable Energy by 705.5% in the first quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company's stock worth $311,645,000 after purchasing an additional 4,127,573 shares during the period. Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of Enlight Renewable Energy by 18.2% during 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 purchasing an additional 1,797,936 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Enlight Renewable Energy by 68.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 995,347 shares of the company's stock valued at $66,126,000 after purchasing an additional 404,304 shares during the period. Norges Bank bought a new position in shares of Enlight Renewable Energy during the 4th quarter worth about $17,875,000. Finally, Bank of America Corp DE boosted its position in shares of Enlight Renewable Energy by 376.4% during the 1st quarter. Bank of America Corp DE now owns 476,289 shares of the company's stock worth $32,511,000 after purchasing an additional 376,309 shares in the last quarter. Institutional investors and hedge funds own 38.89% of the company's stock.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd. is a renewable energy company that develops, finances, constructs, owns and operates utility-scale clean energy projects. Its portfolio includes solar photovoltaic, wind energy and energy storage facilities, with activities spanning project development through long-term asset ownership and operations.

The company serves electricity markets in Israel, the United States and several European countries. Its business is focused on expanding renewable generation and storage capacity, often through projects that combine intermittent renewable resources with storage technology to support grid reliability and power delivery.

Enlight was established in Israel and has developed into an international renewable energy platform.

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