Insider Selling: Enlight Renewable Energy (NASDAQ:ENLT) VP Sells 737 Shares of Stock

Key Points

• Insider sale: Enlight Renewable Energy VP Lisa Haimovitz sold 737 shares at an average price of $92.75, totaling about $68,357. After the sale, she still held 13,026 shares, a 5.35% reduction in her position.
• Stock near highs: ENLT opened at $90.51 and has traded between a 52-week low of $16.87 and a high of $93.85. The company’s market cap is $10.73 billion.
• Analyst views mixed: Analysts currently have a consensus rating of Hold with an average target price of $60.17, though UBS recently raised its target to $105 and gave the stock a Buy rating.

Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Get Free Report) VP Lisa Haimovitz sold 737 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $92.75, for a total value of $68,356.75. Following the completion of the sale, the vice president owned 13,026 shares of the company's stock, valued at approximately $1,208,161.50. This trade represents a 5.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Enlight Renewable Energy Stock Performance

ENLT opened at $90.51 on Monday. The stock has a market cap of $10.73 billion, a PE ratio of 210.49, a PEG ratio of 26.35 and a beta of 1.51. 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 business has a 50 day moving average of $76.36 and a 200-day moving average of $57.22. Enlight Renewable Energy Ltd. has a 52 week low of $16.87 and a 52 week high of $93.85.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. increased its position in Enlight Renewable Energy by 0.9% during the 4th quarter. Advisors Asset Management Inc. now owns 26,865 shares of the company's stock valued at $1,221,000 after buying an additional 251 shares in the last quarter. Mariner LLC increased its position in Enlight Renewable Energy by 4.1% during the 3rd quarter. Mariner LLC now owns 10,070 shares of the company's stock valued at $314,000 after buying an additional 396 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Enlight Renewable Energy by 1.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 45,693 shares of the company's stock valued at $1,409,000 after buying an additional 472 shares in the last quarter. Jane Street Group LLC increased its position in Enlight Renewable Energy by 6.0% during the 2nd quarter. Jane Street Group LLC now owns 11,366 shares of the company's stock valued at $258,000 after buying an additional 641 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Enlight Renewable Energy by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 108,157 shares of the company's stock valued at $2,458,000 after buying an additional 773 shares in the last quarter. Institutional investors own 38.89% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on ENLT shares. Barclays restated an "overweight" rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. Mizuho set a $37.00 target price on Enlight Renewable Energy in a research note on Monday, February 23rd. UBS Group raised their target price on Enlight Renewable Energy from $93.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. raised their price objective on Enlight Renewable Energy from $57.00 to $68.00 and gave the company an "underweight" rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. Three 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $60.17.

About Enlight Renewable Energy

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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