Insider Selling: Enlight Renewable Energy (NASDAQ:ENLT) Director Sells 1,346 Shares of Stock

Key Points

• Director Yitzhak Betzalel sold 1,346 shares of Enlight Renewable Energy on May 27 at an average price of $101.73, totaling about $136,929. After the sale, he still held 3,766 shares, a 26.33% reduction in his ownership.
• The stock has been rallying sharply, trading up 1.4% to $103.89 and near its 52-week high of $106.47. The recent move has been linked to Enlight’s 200 MW solar power purchase agreement with Google for Oklahoma data center operations.
• Investor sentiment remains mixed: analysts currently have a consensus “Hold” rating with a $60.17 target price, while multiple insiders have sold shares recently and some valuation-focused commentary suggests the stock may now be overvalued.

Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Get Free Report) Director Yitzhak Betzalel sold 1,346 shares of the firm's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $101.73, for a total value of $136,928.58. Following the completion of the sale, the director owned 3,766 shares in the company, valued at approximately $383,115.18. This represents a 26.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, May 28th, Yitzhak Betzalel sold 2,062 shares of Enlight Renewable Energy stock. The shares were sold at an average price of $103.64, for a total value of $213,705.68.

Enlight Renewable Energy Stock Up 1.4%

Enlight Renewable Energy stock traded up $1.39 during midday trading on Thursday, reaching $103.89. The company's stock had a trading volume of 398,058 shares, compared to its average volume of 156,401. Enlight Renewable Energy Ltd. has a fifty-two week low of $18.22 and a fifty-two week high of $106.47. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.68. The company has a market cap of $12.32 billion, a P/E ratio of 241.42, a P/E/G ratio of 37.52 and a beta of 1.51. The business has a 50-day simple moving average of $81.80 and a 200-day simple moving average of $62.85.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share for the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%.The company had revenue of $156.49 million for the quarter. On average, research analysts expect that Enlight Renewable Energy Ltd. will post 0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enlight Renewable Energy

Institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming acquired a new position in Enlight Renewable Energy in the 1st quarter valued at about $41,000. BNP Paribas Financial Markets increased its position in Enlight Renewable Energy by 256.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company's stock valued at $28,000 after acquiring an additional 881 shares during the period. V Square Quantitative Management LLC acquired a new position in Enlight Renewable Energy in the 4th quarter valued at about $56,000. Walleye Capital LLC acquired a new position in Enlight Renewable Energy in the 1st quarter valued at about $240,000. Finally, Savant Capital LLC purchased a new stake in shares of Enlight Renewable Energy during the fourth quarter worth approximately $241,000. Institutional investors and hedge funds own 38.89% of the company's stock.

More Enlight Renewable Energy News

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

Analyst Upgrades and Downgrades

ENLT has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an "underweight" rating in a report on Wednesday, May 6th. UBS Group raised their price objective on Enlight Renewable Energy from $93.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Barclays reaffirmed an "overweight" rating on shares of Enlight Renewable Energy in a report on Wednesday, February 18th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. Finally, Mizuho set a $37.00 price objective on Enlight Renewable Energy in a report on Monday, February 23rd. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $60.17.

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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