Yair Seroussi Sells 22,505 Shares of Enlight Renewable Energy (NASDAQ:ENLT) Stock

Key Points

• Vice Chairman Yair Seroussi sold shares of Enlight Renewable Energy. He sold 22,505 shares on May 7 at an average price of $90.63, then sold another 3,033 shares on May 8 at $89.04, reducing his stake by more than 61%.
• Enlight Renewable Energy is trading near its 52-week high. The stock opened at $90.51, close to its one-year high of $93.85, and well above its 50-day and 200-day moving averages.
• Analysts remain mixed on the stock despite recent target hikes. UBS raised its price target to $105 and JPMorgan lifted its target to $68, but the overall consensus rating is still Hold with an average price target of $60.17.

Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Get Free Report) Vice Chairman Yair Seroussi sold 22,505 shares of the firm's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $90.63, for a total transaction of $2,039,628.15. Following the sale, the insider owned 14,233 shares in the company, valued at approximately $1,289,936.79. This represents a 61.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Friday, May 8th, Yair Seroussi sold 3,033 shares of Enlight Renewable Energy stock. The shares were sold at an average price of $89.04, for a total transaction of $270,058.32.

Enlight Renewable Energy Price Performance

ENLT stock opened at $90.51 on Monday. The firm has a market cap of $10.73 billion, a PE ratio of 210.49, a P/E/G ratio of 26.35 and a beta of 1.51. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.77 and a current ratio of 0.77. The firm's fifty day moving average is $76.36 and its 200 day moving average is $57.22. Enlight Renewable Energy Ltd. has a one year low of $16.87 and a one year high of $93.85.

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

Analysts Set New Price Targets

Several analysts recently commented on the stock. JPMorgan Chase & Co. raised 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 report on Wednesday, May 6th. UBS Group raised their price target 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. Barclays restated an "overweight" rating on shares of Enlight Renewable Energy in a research report on Wednesday, February 18th. Weiss Ratings restated a "hold (c)" rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. Finally, Mizuho set a $37.00 price objective on shares of Enlight Renewable Energy in a report on Monday, February 23rd. Three investment analysts have rated the stock with a Buy rating, two have assigned 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 a consensus price target of $60.17.

Hedge Funds Weigh In On Enlight Renewable Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Enlight Renewable Energy by 3.9% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,722,610 shares of the company's stock worth $84,837,000 after buying an additional 103,430 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Enlight Renewable Energy by 26.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 57,621 shares of the company's stock worth $2,618,000 after buying an additional 11,994 shares in the last quarter. Y.D. More Investments Ltd lifted its stake in shares of Enlight Renewable Energy by 4.5% in the fourth quarter. Y.D. More Investments Ltd now owns 5,837,263 shares of the company's stock worth $264,965,000 after buying an additional 252,446 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Enlight Renewable Energy by 11.3% in the fourth quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company's stock worth $225,058,000 after buying an additional 503,060 shares in the last quarter. Finally, Citigroup Inc. lifted its stake in shares of Enlight Renewable Energy by 465.1% in the third quarter. Citigroup Inc. now owns 110,153 shares of the company's stock worth $3,398,000 after buying an additional 90,662 shares in the last quarter. 38.89% of the stock is owned by hedge funds and other institutional investors.

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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