Key Points
- Insider Ilan Goren sold 2,700 Enlight Renewable Energy shares at an average price of $64.81, worth approximately $175,000. The sale covered tax withholding tied to vested equity awards, reducing his direct ownership by 6.3% to 40,135 shares.
- ENLT opened at $65.94 and has a market capitalization of about $7.82 billion, while trading well below its 52-week high of $108.65. The company reported quarterly revenue of $165.99 million and earnings of $0.20 per share.
- Analyst sentiment is mixed, with four Buy, two Hold, and two Sell ratings; the consensus rating is Hold with an average price target of $74.71. Institutional investors own 38.89% of the stock.
Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Get Free Report) CFO Nir Yehuda sold 1,276 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $66.40, for a total transaction of $84,726.40. Following the completion of the transaction, the chief financial officer owned 34,324 shares in the company, valued at $2,279,113.60. This represents a 3.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Enlight Renewable Energy Stock Down 1.0%
ENLT stock opened at $65.94 on Tuesday. The stock has a market cap of $7.82 billion, a P/E ratio of 106.35, a PEG ratio of 52.05 and a beta of 1.70. 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 Ltd. has a twelve month low of $31.55 and a twelve month high of $108.65. The company's 50 day moving average is $77.63 and its two-hundred day moving average is $82.97.
Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last posted its earnings results on Tuesday, June 30th. The company reported $0.20 EPS for the quarter. Enlight Renewable Energy had a net margin of 12.35% and a return on equity of 3.52%. The firm had revenue of $165.99 million for the quarter. Research analysts expect that Enlight Renewable Energy Ltd. will post 0.35 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
ENLT has been the topic of a number of research analyst reports. Truist Financial cut their target price on Enlight Renewable Energy from $106.00 to $104.00 and set a "buy" rating on the stock in a research report on Monday, September 28th. UBS Group dropped their price target on 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. Weiss Ratings lowered Enlight Renewable Energy from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, September 18th. Barclays increased their price objective on Enlight Renewable Energy from $83.00 to $89.00 and gave the company an "overweight" rating in a report on Monday, July 20th. Finally, Wall Street Zen cut shares of Enlight Renewable Energy from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $74.71.
Check Out Our Latest Research Report on ENLT
Hedge Funds Weigh In On Enlight Renewable Energy
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Clal Insurance Enterprises Holdings Ltd grew its position in Enlight Renewable Energy by 18.2% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 11,688,077 shares of the company's stock valued at $774,113,000 after buying an additional 1,797,936 shares during the last quarter. Altshuler Shaham Ltd lifted its stake in shares of Enlight Renewable Energy by 705.5% in the 1st quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company's stock worth $311,645,000 after acquiring an additional 4,127,573 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Enlight Renewable Energy by 68.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 995,347 shares of the company's stock valued at $66,126,000 after buying an additional 404,304 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of 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 lifted its stake in shares of Enlight Renewable Energy by 376.4% in the first quarter. Bank of America Corp DE now owns 476,289 shares of the company's stock valued at $32,511,000 after purchasing an additional 376,309 shares during the period. Hedge funds and other institutional investors own 38.89% of the company's stock.
About Enlight Renewable Energy
(
Get Free Report)
Enlight Renewable Energy Ltd. is a renewable energy company that develops, finances, constructs, owns and operates utility-scale clean energy projects. Its portfolio includes solar photovoltaic, wind energy and energy storage facilities, with activities spanning project development through long-term asset ownership and operations.
The company serves electricity markets in Israel, the United States and several European countries. Its business is focused on expanding renewable generation and storage capacity, often through projects that combine intermittent renewable resources with storage technology to support grid reliability and power delivery.
Enlight was established in Israel and has developed into an international renewable energy platform.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
