Insider Selling: Enlight Renewable Energy (NASDAQ:ENLT) Vice Chairman Sells 3,033 Shares of Stock

Key Points

• Enlight Renewable Energy Vice Chairman Yair Seroussi sold 3,033 shares on May 8 at an average price of $89.04, totaling about $270,058. After the sale, he still held 14,233 shares valued at roughly $1.27 million.
• Seroussi also sold 22,505 shares the previous day at an average price of $90.63, for proceeds of about $2.04 million, indicating a notable reduction in his position over two days.
• The stock has recently traded near its 52-week high and is around $90.51, while analysts remain mixed with a consensus Hold rating and an average price target of $60.17.

Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Get Free Report) Vice Chairman Yair Seroussi sold 3,033 shares of Enlight Renewable Energy stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $89.04, for a total transaction of $270,058.32. Following the transaction, the insider owned 14,233 shares of the company's stock, valued at approximately $1,267,306.32. The trade was a 17.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Yair Seroussi also recently made the following trade(s):

• On Thursday, May 7th, Yair Seroussi sold 22,505 shares of Enlight Renewable Energy stock. The stock was sold at an average price of $90.63, for a total transaction of $2,039,628.15.

Enlight Renewable Energy Stock Performance

Shares of ENLT opened at $90.51 on Monday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.68. The stock has a market cap of $10.73 billion, a P/E ratio of 210.49, a PEG ratio of 26.35 and a beta of 1.51. The company has a 50-day moving average of $76.36 and a two-hundred day moving average of $57.22. Enlight Renewable Energy Ltd. has a 12-month low of $16.87 and a 12-month high of $93.85.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last announced its earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share (EPS) for the quarter. The company had revenue of $156.49 million during the quarter. Enlight Renewable Energy had a net margin of 9.47% and a return on equity of 2.48%. As a group, research analysts predict that Enlight Renewable Energy Ltd. will post 0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Enlight Renewable Energy

Several institutional investors and hedge funds have recently bought and sold shares of ENLT. BNP Paribas Financial Markets increased its position in Enlight Renewable Energy by 256.1% during the second quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company's stock worth $28,000 after purchasing an additional 881 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Enlight Renewable Energy during the fourth quarter worth approximately $56,000. Savant Capital LLC acquired a new position in Enlight Renewable Energy during the fourth quarter worth approximately $241,000. Jane Street Group LLC increased its position in Enlight Renewable Energy by 6.0% during the second quarter. Jane Street Group LLC now owns 11,366 shares of the company's stock worth $258,000 after purchasing an additional 641 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new position in Enlight Renewable Energy during the fourth quarter worth approximately $277,000. Institutional investors and hedge funds own 38.89% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $65.00 price objective on shares of Enlight Renewable Energy and gave the company a "hold" rating in a research report on Thursday, April 9th. Weiss Ratings reissued a "hold (c)" rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. UBS Group boosted their price objective on shares of Enlight Renewable Energy from $93.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Mizuho set a $37.00 price objective on shares of Enlight Renewable Energy in a research report on Monday, February 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the company an "underweight" rating in a research report on Wednesday, May 6th. Three 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target 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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