Insider Selling: Enlight Renewable Energy (NASDAQ:ENLT) VP Sells $1,098,345.50 in Stock

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) VP Israeli Ayelet Cohen sold 10,123 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $108.50, for a total value of $1,098,345.50. Following the transaction, the vice president owned 20,974 shares in the company, valued at approximately $2,275,679. The trade was a 32.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Enlight Renewable Energy Price Performance

ENLT opened at $95.02 on Friday. The stock’s 50 day simple moving average is $85.06 and its 200 day simple moving average is $65.60. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.77 and a quick ratio of 0.77. Enlight Renewable Energy Ltd. has a 1 year low of $18.22 and a 1 year high of $108.65. The firm has a market cap of $11.27 billion, a price-to-earnings ratio of 220.98, a PEG ratio of 34.76 and a beta of 1.56.

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. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%.The business had revenue of $156.49 million for the quarter. As a group, analysts predict that Enlight Renewable Energy Ltd. will post 0.29 earnings per share for the current year.

Institutional Investors Weigh In On Enlight Renewable Energy

Large investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Enlight Renewable Energy by 26.3% in the 4th 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 during the last quarter. Y.D. More Investments Ltd grew its position in shares of Enlight Renewable Energy by 4.5% in the 4th 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 during the last quarter. Vanguard Group Inc. grew its position in shares of Enlight Renewable Energy by 11.3% in the 4th 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 during the last quarter. Citigroup Inc. grew its position in shares of Enlight Renewable Energy by 465.1% in the 3rd quarter. Citigroup Inc. now owns 110,153 shares of the company’s stock worth $3,398,000 after buying an additional 90,662 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of Enlight Renewable Energy by 61.5% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 22,745 shares of the company’s stock valued at $709,000 after purchasing an additional 8,664 shares in the last quarter. 38.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ENLT. Mizuho set a $37.00 price target on Enlight Renewable Energy in a research report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft set a $65.00 price target on Enlight Renewable Energy and gave the stock a “hold” rating in a research report on Thursday, April 9th. Barclays restated an “overweight” rating on shares of Enlight Renewable Energy in a research report on Wednesday, February 18th. JPMorgan Chase & Co. raised their price target on Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings reiterated 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 assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $63.17.

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.