Enlight Renewable Energy Ltd. $ENLT Stock Sold by Phoenix Financial Ltd.

Phoenix Financial Ltd. trimmed its position in Enlight Renewable Energy Ltd. (NASDAQ:ENLT) by 8.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,044,089 shares of the company’s stock after selling 94,481 shares during the quarter. Phoenix Financial Ltd. owned 0.88% of Enlight Renewable Energy worth $72,470,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio lifted its stake in Enlight Renewable Energy by 0.3% during the first 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 stake in shares of Enlight Renewable Energy by 2.7% in the 1st 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 shares of Enlight Renewable Energy during the 2nd quarter worth $26,000. Versant Capital Management Inc acquired a new position in shares of Enlight Renewable Energy during the 2nd quarter worth $34,000. Finally, State of Wyoming acquired a new position in shares of Enlight Renewable Energy during the 1st quarter worth $41,000. 38.89% of the stock is currently owned by institutional investors and hedge funds.

Enlight Renewable Energy Price Performance

Shares of NASDAQ ENLT traded down $1.20 during mid-day trading on Friday, hitting $66.07. 69,925 shares of the stock traded hands, compared to its average volume of 202,279. The company has a market cap of $7.83 billion, a PE ratio of 100.11, a price-to-earnings-growth ratio of 15.20 and a beta of 1.72. Enlight Renewable Energy Ltd. has a twelve month low of $34.55 and a twelve month high of $108.65. The company has a debt-to-equity ratio of 2.25, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a 50 day simple moving average of $69.85 and a two-hundred day simple moving average of $78.26.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its earnings results on Tuesday, November 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.07. The business had revenue of $186.71 million during the quarter, compared to analysts’ expectations of $581.13 million. Enlight Renewable Energy had a return on equity of 3.59% and a net margin of 12.25%. As a group, equities research analysts forecast that Enlight Renewable Energy Ltd. will post 0.49 EPS for the current fiscal year.

Insider Transactions at Enlight Renewable Energy

In other news, CFO Nir Yehuda sold 1,276 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $66.40, for a total value of $84,726.40. Following the completion of the transaction, the chief financial officer owned 34,324 shares of the company’s stock, valued at $2,279,113.60. This represents a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Amit Paz sold 2,221 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $73.94, for a total value of $164,220.74. Following the completion of the transaction, the insider directly owned 277,462 shares of the company’s stock, valued at $20,515,540.28. This represents a 0.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 10,526 shares of company stock worth $755,406.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Mizuho reduced their price objective on Enlight Renewable Energy from $45.00 to $41.00 and set an “underperform” rating on the stock in a research note on Tuesday, October 13th. Wall Street Zen downgraded Enlight Renewable Energy from a “hold” rating to a “sell” rating in a research note on Sunday, October 25th. Zacks Research cut shares of Enlight Renewable Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, November 6th. JPMorgan Chase & Co. reduced their price target on shares of Enlight Renewable Energy from $80.00 to $65.00 and set an “underweight” rating on the stock in a research note on Monday, October 19th. Finally, Barclays lifted their price target on shares of Enlight Renewable Energy from $83.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $79.50.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd. is a renewable energy company that develops, finances, constructs, owns and operates clean energy projects. Its portfolio includes solar and wind power facilities, as well as energy storage projects designed to support the integration of renewable electricity into power grids. Founded in Israel in 2008, the company has expanded beyond its home market to develop projects in the United States and Europe. Its activities span multiple stages of a project’s life cycle, from identifying sites and securing permits to construction and ongoing operations.