Enlight Renewable Energy (NASDAQ:ENLT) Insider Amit Paz Sells 2,221 Shares of Stock

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) insider Amit Paz sold 2,221 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $73.94, for a total value of $164,220.74. Following the sale, the insider directly owned 277,462 shares in the company, valued at $20,515,540.28. This represents a 0.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, September 9th, Amit Paz sold 4,329 shares of Enlight Renewable Energy stock. The shares were sold at an average price of $76.57, for a total value of $331,471.53.

Enlight Renewable Energy Price Performance

Shares of NASDAQ ENLT opened at $69.55 on Wednesday. The business has a fifty day moving average price of $82.48 and a two-hundred day moving average price of $83.20. The stock has a market capitalization of $8.25 billion, a PE ratio of 112.18, a P/E/G ratio of 57.17 and a beta of 1.65. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.12 and a quick ratio of 1.12. Enlight Renewable Energy Ltd. has a fifty-two week low of $28.03 and a fifty-two week high of $108.65.

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

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ENLT. Clal Insurance Enterprises Holdings Ltd lifted its holdings in shares of Enlight Renewable Energy by 18.2% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 11,688,077 shares of the company’s stock worth $774,113,000 after acquiring an additional 1,797,936 shares during the last quarter. Altshuler Shaham Ltd grew its holdings in shares of Enlight Renewable Energy by 705.5% during the 1st quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company’s stock valued at $311,645,000 after purchasing an additional 4,127,573 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Enlight Renewable Energy by 68.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 995,347 shares of the company’s stock worth $66,126,000 after purchasing an additional 404,304 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Enlight Renewable Energy by 121.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 505,792 shares of the company’s stock worth $33,527,000 after purchasing an additional 277,179 shares in the last quarter. Finally, Bank of America Corp DE increased its position in Enlight Renewable Energy by 376.4% during the 1st quarter. Bank of America Corp DE now owns 476,289 shares of the company’s stock worth $32,511,000 after purchasing an additional 376,309 shares in the last quarter. Institutional investors own 38.89% of the company’s stock.

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.