Insider Selling: Enlight Renewable Energy (NASDAQ:ENLT) Insider Sells $331,471.53 in Stock

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) insider Amit Paz sold 4,329 shares of the stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $76.57, for a total transaction of $331,471.53. Following the completion of the transaction, the insider directly owned 279,683 shares of the company’s stock, valued at $21,415,327.31. This trade represents a 1.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Amit Paz also recently made the following trade(s):

• On Monday, September 14th, Amit Paz sold 2,221 shares of Enlight Renewable Energy stock. The stock was sold at an average price of $73.94, for a total transaction of $164,220.74.

Enlight Renewable Energy Stock Up 2.9%

NASDAQ ENLT opened at $71.59 on Thursday. Enlight Renewable Energy Ltd. has a 1-year low of $28.03 and a 1-year high of $108.65. The company has a market capitalization of $8.49 billion, a price-to-earnings ratio of 115.47, a PEG ratio of 54.38 and a beta of 1.65. The stock’s 50 day moving average is $82.24 and its two-hundred day moving average is $83.21. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.31.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its earnings results on Tuesday, June 30th. The company reported $0.20 EPS for the quarter. The business had revenue of $165.99 million during the quarter. Enlight Renewable Energy had a return on equity of 3.52% and a net margin of 12.35%. Equities analysts forecast that Enlight Renewable Energy Ltd. will post 0.35 earnings per share for the current fiscal year.

Institutional Trading of Enlight Renewable Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio boosted its position in shares of Enlight Renewable Energy by 0.3% in the 1st quarter. Public Employees Retirement System of Ohio now owns 48,095 shares of the company’s stock worth $3,185,000 after purchasing an additional 127 shares during the last quarter. Quantinno Capital Management LP increased its holdings in Enlight Renewable Energy by 2.7% in the first quarter. Quantinno Capital Management LP now owns 6,506 shares of the company’s stock valued at $435,000 after purchasing an additional 170 shares during the last quarter. Orion Capital Management LLC acquired a new position in Enlight Renewable Energy in the second quarter valued at about $26,000. Versant Capital Management Inc acquired a new position in Enlight Renewable Energy in the second quarter valued at about $34,000. Finally, State of Wyoming bought a new position in Enlight Renewable Energy during the first quarter worth about $41,000. 38.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on ENLT shares. Wall Street Zen downgraded shares of Enlight Renewable Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Truist Financial began coverage on shares of Enlight Renewable Energy in a report on Monday, July 13th. They set a “buy” rating and a $106.00 price target for the company. Barclays boosted their price target on shares of Enlight Renewable Energy from $83.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. Weiss Ratings raised shares of Enlight Renewable Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, September 3rd. Finally, UBS Group dropped their price objective on shares of Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Enlight Renewable Energy currently has a consensus rating of “Hold” and a consensus target price of $75.00.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd. is a renewable energy company that develops, finances, constructs, owns and operates utility-scale clean energy projects. Its activities focus primarily on solar photovoltaic, wind energy and energy storage systems, with projects designed to generate electricity and support the reliability and flexibility of power grids.

The company manages projects across multiple stages of the renewable energy value chain, including site development, permitting, power purchase arrangements, construction and long-term operation.