Insider Selling: Enlight Renewable Energy (NASDAQ:ENLT) Insider Sells $592,377.06 in Stock

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) insider Marko Liposcak sold 6,402 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $92.53, for a total transaction of $592,377.06. Following the transaction, the insider directly owned 32,539 shares of the company’s stock, valued at $3,010,833.67. This represents a 16.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Enlight Renewable Energy Trading Down 6.5%

NASDAQ ENLT opened at $85.87 on Friday. The stock has a market capitalization of $10.18 billion, a P/E ratio of 199.70, a P/E/G ratio of 26.73 and a beta of 1.51. Enlight Renewable Energy Ltd. has a 52-week low of $16.87 and a 52-week high of $96.00. The firm has a 50-day moving average price of $78.73 and a 200 day moving average price of $59.46. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.68.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share (EPS) for the quarter. The firm 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%. Equities research analysts expect that Enlight Renewable Energy Ltd. will post 0.37 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio increased its holdings in Enlight Renewable Energy by 0.3% in the first quarter. Public Employees Retirement System of Ohio now owns 48,095 shares of the company’s stock valued at $3,185,000 after buying an additional 127 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Enlight Renewable Energy by 0.9% in the fourth 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 holdings in Enlight Renewable Energy by 4.1% in the third 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. State of Wyoming purchased a new position in Enlight Renewable Energy in the first quarter valued at about $41,000. Finally, Jane Street Group LLC increased its holdings in Enlight Renewable Energy by 6.0% in the second 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. 38.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ENLT shares. JPMorgan Chase & Co. increased their price target on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a report on Wednesday, May 6th. Barclays reissued 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. UBS Group increased their target price on shares of Enlight Renewable Energy from $93.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Mizuho set a $37.00 target price on shares of Enlight Renewable Energy in a report on Monday, February 23rd. Three 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.