Insider Selling: Enlight Renewable Energy (NASDAQ:ENLT) SVP Sells 3,074 Shares of Stock

Key Points

• Enlight Renewable Energy SVP Meron Carr sold 3,074 shares on May 27 at an average price of $103.88, totaling about $319,327. After the sale, Carr still held 42,465 shares valued at roughly $4.41 million.
• Carr made another sale the following day, unloading 3,329 shares on May 28 at an average price of $103.44 for about $344,352, adding to recent insider selling activity.
• The stock has rallied sharply after a 200 MW solar power purchase agreement with Google, but analysts and commentary note the shares may be richly valued and insider selling could signal caution.

Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Get Free Report) SVP Meron Carr sold 3,074 shares of the business's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $103.88, for a total transaction of $319,327.12. Following the completion of the transaction, the senior vice president owned 42,465 shares in the company, valued at approximately $4,411,264.20. This trade represents a 6.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Meron Carr also recently made the following trade(s):

• On Thursday, May 28th, Meron Carr sold 3,329 shares of Enlight Renewable Energy stock. The shares were sold at an average price of $103.44, for a total transaction of $344,351.76.

Enlight Renewable Energy Price Performance

ENLT traded up $0.20 during trading on Thursday, hitting $102.70. The company's stock had a trading volume of 503,491 shares, compared to its average volume of 157,474. 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 stock has a market capitalization of $12.18 billion, a price-to-earnings ratio of 238.84, a price-to-earnings-growth ratio of 37.52 and a beta of 1.51. The firm's 50 day moving average price is $81.80 and its two-hundred day moving average price is $62.85. Enlight Renewable Energy Ltd. has a 12 month low of $18.22 and a 12 month high of $106.47.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last announced its earnings results on Tuesday, March 31st. The company reported $0.16 EPS 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. Sell-side analysts forecast that Enlight Renewable Energy Ltd. will post 0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enlight Renewable Energy

Several institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio grew its position in shares of Enlight Renewable Energy by 0.3% during the 1st quarter. Public Employees Retirement System of Ohio now owns 48,095 shares of the company's stock worth $3,185,000 after buying an additional 127 shares during the period. Quantinno Capital Management LP grew its position in shares of Enlight Renewable Energy by 2.7% during the 1st quarter. Quantinno Capital Management LP now owns 6,506 shares of the company's stock worth $435,000 after buying an additional 170 shares during the period. Advisors Asset Management Inc. grew its position in shares of Enlight Renewable Energy by 0.9% during the 4th quarter. Advisors Asset Management Inc. now owns 26,865 shares of the company's stock worth $1,221,000 after buying an additional 251 shares during the period. Mariner LLC grew its position in shares of Enlight Renewable Energy by 4.1% during the 3rd quarter. Mariner LLC now owns 10,070 shares of the company's stock worth $314,000 after buying an additional 396 shares during the period. Finally, State of Wyoming acquired a new stake in shares of Enlight Renewable Energy during the 1st quarter worth approximately $41,000. Institutional investors and hedge funds own 38.89% of the company's stock.

Key Headlines Impacting Enlight Renewable Energy

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 support data center operations in Oklahoma, a meaningful commercial win that strengthens its U.S. growth story and helped fuel the recent rally. Article Title
• Neutral Sentiment: Recent commentary noted the stock’s sharp run-up after the Google deal, while also warning that valuation looks stretched versus GF Value. Article Title
• Negative Sentiment: Multiple insiders sold shares over the past few days, including Vice Chairman Yair Seroussi, Director Shai Yeshayahu Weil, VP Lisa Haimovitz, and insider Amit Paz. Large insider selling can make investors cautious, especially after a strong price move. Article Title

Wall Street Analyst Weigh In

Several research firms have weighed in on ENLT. Mizuho set a $37.00 price objective on shares of Enlight Renewable Energy in a research report on Monday, February 23rd. UBS Group upped their target price on shares of Enlight Renewable Energy from $93.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. increased their price target on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the company an "underweight" rating in a research note on Wednesday, May 6th. Barclays reissued an "overweight" rating on shares of Enlight Renewable Energy in a report on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average 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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