Key Points
- Insider sale: Amit Paz sold 3,533 shares of Enlight Renewable Energy on May 26 at an average price of $97.35, totaling about $343,938. After the sale, he still held 284,012 shares.
- Stock performance: ENLT shares were up 12.3% and opened at $103.56, near their 52-week high of $103.88. The stock has surged well above its 50-day and 200-day moving averages.
- Analyst outlook: Analysts currently have a mixed view, with a consensus rating of Hold and an average price target of $60.17. Recent target changes ranged from $65 at Deutsche Bank to $105 at UBS.
Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Get Free Report) insider Amit Paz sold 3,533 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $97.35, for a total value of $343,937.55. Following the completion of the transaction, the insider owned 284,012 shares in the company, valued at $27,648,568.20. This represents a 1.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Enlight Renewable Energy Stock Up 12.3%
ENLT stock opened at $103.56 on Wednesday. Enlight Renewable Energy Ltd. has a twelve month low of $18.15 and a twelve month high of $103.88. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.68. The stock's 50 day moving average is $81.25 and its 200-day moving average is $62.37. The firm has a market capitalization of $12.28 billion, a PE ratio of 240.84, a P/E/G ratio of 33.42 and a beta of 1.51.
Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last posted its earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share for the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%.The company had revenue of $156.49 million for the quarter. Sell-side analysts expect that Enlight Renewable Energy Ltd. will post 0.29 EPS for the current fiscal year.
Analysts Set New Price Targets
ENLT has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft set a $65.00 target price on Enlight Renewable Energy and gave the company a "hold" rating in a report on Thursday, April 9th. JPMorgan Chase & Co. raised their target price on Enlight Renewable Energy from $57.00 to $68.00 and gave the company an "underweight" rating in a report on Wednesday, May 6th. UBS Group raised their target price on Enlight Renewable Energy from $93.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Weiss Ratings restated a "hold (c)" rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. Finally, Barclays reiterated an "overweight" rating on shares of Enlight Renewable Energy in a report on Wednesday, February 18th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $60.17.
Read Our Latest Stock Analysis on Enlight Renewable Energy
Institutional Trading of Enlight Renewable Energy
A number of hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio lifted its holdings 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 acquiring an additional 127 shares during the period. Quantinno Capital Management LP lifted its holdings in Enlight Renewable Energy by 2.7% during the first quarter. Quantinno Capital Management LP now owns 6,506 shares of the company's stock worth $435,000 after acquiring an additional 170 shares during the period. Advisors Asset Management Inc. lifted its holdings in Enlight Renewable Energy by 0.9% during the fourth quarter. Advisors Asset Management Inc. now owns 26,865 shares of the company's stock worth $1,221,000 after acquiring an additional 251 shares during the period. Mariner LLC lifted its holdings in Enlight Renewable Energy by 4.1% during the third quarter. Mariner LLC now owns 10,070 shares of the company's stock worth $314,000 after acquiring an additional 396 shares during the period. Finally, State of Wyoming bought a new stake in Enlight Renewable Energy during the first quarter worth $41,000. 38.89% of the stock is currently owned by institutional investors.
About Enlight Renewable Energy
(
Get Free Report)
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.
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