Enlight Renewable Energy Ltd. $ENLT Shares Sold by Yelin Lapidot Holdings Management Ltd.

Yelin Lapidot Holdings Management Ltd. lessened its stake in shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT) by 38.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 122,283 shares of the company’s stock after selling 76,561 shares during the period. Enlight Renewable Energy comprises about 1.7% of Yelin Lapidot Holdings Management Ltd.’s portfolio, making the stock its 18th largest holding. Yelin Lapidot Holdings Management Ltd.’s holdings in Enlight Renewable Energy were worth $8,347,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of ENLT. Pictet Asset Management Holding SA grew its holdings in shares of Enlight Renewable Energy by 3.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 126,798 shares of the company’s stock worth $8,405,000 after acquiring an additional 3,970 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Enlight Renewable Energy by 121.2% during the first quarter. Assenagon Asset Management S.A. now owns 505,792 shares of the company’s stock valued at $33,527,000 after purchasing an additional 277,179 shares during the last quarter. Invesco Ltd. boosted its position in shares of Enlight Renewable Energy by 19.0% in the 4th quarter. Invesco Ltd. now owns 1,468,914 shares of the company’s stock valued at $66,777,000 after purchasing an additional 234,306 shares during the period. Mackenzie Financial Corp acquired a new position in shares of Enlight Renewable Energy in the 4th quarter valued at $277,000. Finally, Quadrature Capital Ltd purchased a new position in Enlight Renewable Energy in the 4th quarter worth about $355,000. 38.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on ENLT. UBS Group raised their target price on shares of Enlight Renewable Energy from $105.00 to $123.00 and gave the stock a “buy” rating in a report on Friday, May 29th. JPMorgan Chase & Co. boosted their price target on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the company an “underweight” rating in a report on Wednesday, May 6th. Wall Street Zen raised shares of Enlight Renewable Energy from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Deutsche Bank Aktiengesellschaft set a $65.00 price target on Enlight Renewable Energy and gave the company a “hold” rating in a research note on Thursday, April 9th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $63.17.

Insider Buying and Selling

In related news, Chairman Gilad Yavetz sold 100,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $91.78, for a total value of $9,178,000.00. Following the transaction, the chairman directly owned 846,436 shares in the company, valued at approximately $77,685,896.08. This trade represents a 10.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Yair Seroussi sold 22,505 shares of Enlight Renewable Energy stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $90.63, for a total transaction of $2,039,628.15. Following the completion of the transaction, the insider owned 14,233 shares in the company, valued at $1,289,936.79. This trade represents a 61.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 313,597 shares of company stock valued at $29,830,515.

Enlight Renewable Energy Stock Performance

Shares of NASDAQ ENLT opened at $86.31 on Monday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market cap of $10.23 billion, a price-to-earnings ratio of 200.74, a P/E/G ratio of 31.32 and a beta of 1.56. The business’s 50-day simple moving average is $91.01 and its 200-day simple moving average is $71.38. Enlight Renewable Energy Ltd. has a 52 week low of $22.61 and a 52 week high of $108.65.

Enlight Renewable Energy (NASDAQ:ENLT) 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 firm had revenue of $156.49 million during the quarter. As a group, equities research analysts expect that Enlight Renewable Energy Ltd. will post 0.29 earnings per share for the current fiscal year.

Enlight Renewable Energy 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.