First Trust Advisors LP lessened its holdings in shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT – Free Report) by 39.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 164,134 shares of the company’s stock after selling 105,436 shares during the period. First Trust Advisors LP owned 0.14% of Enlight Renewable Energy worth $11,081,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in ENLT. Clal Insurance Enterprises Holdings Ltd increased its stake in 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 valued at $774,113,000 after purchasing an additional 1,797,936 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Enlight Renewable Energy by 11.3% during the 4th quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company’s stock worth $225,058,000 after buying an additional 503,060 shares during the last quarter. Norges Bank purchased a new stake in shares of Enlight Renewable Energy during the 4th quarter worth approximately $17,875,000. Assenagon Asset Management S.A. boosted its holdings in shares of Enlight Renewable Energy by 121.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 505,792 shares of the company’s stock valued at $33,527,000 after buying an additional 277,179 shares in the last quarter. Finally, Y.D. More Investments Ltd boosted its holdings in shares of Enlight Renewable Energy by 4.5% in the 4th quarter. Y.D. More Investments Ltd now owns 5,837,263 shares of the company’s stock valued at $264,965,000 after buying an additional 252,446 shares in the last quarter. Hedge funds and other institutional investors own 38.89% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft set a $65.00 price target on shares of Enlight Renewable Energy and gave the stock a “hold” rating in a research note on Thursday, April 9th. JPMorgan Chase & Co. upped their price objective on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the company an “underweight” rating in a research note on Wednesday, May 6th. Wall Street Zen raised Enlight Renewable Energy from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Barclays lifted their target price on Enlight Renewable Energy from $83.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. Finally, UBS Group reduced their target price on 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 equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $75.00.
Enlight Renewable Energy Stock Performance
Shares of Enlight Renewable Energy stock opened at $84.46 on Friday. The firm’s fifty day simple moving average is $90.44 and its 200-day simple moving average is $78.61. Enlight Renewable Energy Ltd. has a 12 month low of $22.95 and a 12 month high of $108.65. The stock has a market capitalization of $10.01 billion, a price-to-earnings ratio of 196.42, a PEG ratio of 23.29 and a beta of 1.66. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.77 and a quick ratio of 0.77.
Enlight Renewable Energy (NASDAQ:ENLT – Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share for the quarter. Enlight Renewable Energy had a net margin of 9.47% and a return on equity of 2.48%. The firm had revenue of $156.49 million during the quarter. As a group, equities analysts forecast that Enlight Renewable Energy Ltd. will post 0.28 earnings per share for the current year.
Insiders Place Their Bets
In related news, Vice Chairman Yair Seroussi sold 12,036 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $102.24, for a total value of $1,230,560.64. Following the transaction, the insider owned 14,233 shares in the company, valued at $1,455,181.92. The trade was a 45.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Yitzhak Betzalel sold 2,062 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $103.64, for a total value of $213,705.68. Following the completion of the transaction, the director owned 2 shares in the company, valued at $207.28. This trade represents a 99.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 313,597 shares of company stock valued at $29,830,515.
Enlight Renewable Energy Company Profile
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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