Enlight Renewable Energy (NASDAQ:ENLT) Insider Sells $174,987.00 in Stock

Key Points

• Insider Ilan Goren sold 2,700 Enlight Renewable Energy shares at an average price of $64.81, totaling $174,987. The sale covered tax-withholding obligations tied to vested equity awards and reduced his ownership by 6.3%.
• ENLT opened at $66.58, with a market capitalization of $7.89 billion and a one-year trading range of $30.95 to $108.65. The company reported quarterly EPS of $0.20 on revenue of $165.99 million.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $74.71 price target. Institutional investors own 38.89% of the stock, with several major funds recently increasing their positions.

Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Get Free Report) insider Ilan Goren sold 2,700 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $64.81, for a total transaction of $174,987.00. Following the sale, the insider directly owned 40,135 shares of the company's stock, valued at approximately $2,601,149.35. This trade represents a 6.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Enlight Renewable Energy Price Performance

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

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Wall Street Zen lowered Enlight Renewable Energy from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Weiss Ratings downgraded Enlight Renewable Energy from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, September 18th. UBS Group dropped their price target on Enlight Renewable Energy from $123.00 to $115.00 and set a "buy" rating for the company in a research note on Tuesday, July 7th. Barclays raised their price target on Enlight Renewable Energy from $83.00 to $89.00 and gave the company an "overweight" rating in a report on Monday, July 20th. Finally, Truist Financial reduced 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 equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $74.71.

Institutional Trading of Enlight Renewable Energy

Several hedge funds have recently made changes to their positions in ENLT. Altshuler Shaham Ltd boosted its stake in shares of Enlight Renewable Energy by 705.5% during the first quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company's stock valued at $311,645,000 after purchasing an additional 4,127,573 shares during the period. Clal Insurance Enterprises Holdings Ltd increased its stake in Enlight Renewable Energy by 18.2% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 11,688,077 shares of the company's stock worth $774,113,000 after buying an additional 1,797,936 shares during the period. Arrowstreet Capital Limited Partnership lifted 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 valued at $66,126,000 after buying an additional 404,304 shares in the last quarter. Norges Bank bought a new stake in Enlight Renewable Energy during the 4th quarter valued at about $17,875,000. Finally, Bank of America Corp DE boosted 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 buying an additional 376,309 shares during the period. 38.89% of the stock is currently owned by hedge funds and other 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 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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