Y.D. More Investments Ltd Has $364.79 Million Stock Position in Enlight Renewable Energy Ltd. $ENLT

Y.D. More Investments Ltd decreased its position in Enlight Renewable Energy Ltd. (NASDAQ:ENLT) by 5.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 5,514,993 shares of the company’s stock after selling 322,270 shares during the quarter. Enlight Renewable Energy accounts for approximately 14.0% of Y.D. More Investments Ltd’s holdings, making the stock its 2nd biggest holding. Y.D. More Investments Ltd’s holdings in Enlight Renewable Energy were worth $364,789,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. lifted its holdings in Enlight Renewable Energy by 0.9% during the 4th quarter. Advisors Asset Management Inc. now owns 26,865 shares of the company’s stock valued at $1,221,000 after purchasing an additional 251 shares during the last quarter. Mariner LLC grew its stake 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 buying an additional 396 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Enlight Renewable Energy by 1.0% during the third quarter. Public Employees Retirement System of Ohio now owns 45,693 shares of the company’s stock worth $1,409,000 after buying an additional 472 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Enlight Renewable Energy by 6.0% during the second quarter. Jane Street Group LLC now owns 11,366 shares of the company’s stock worth $258,000 after buying an additional 641 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Enlight Renewable Energy by 0.7% in the second quarter. Geode Capital Management LLC now owns 108,157 shares of the company’s stock valued at $2,458,000 after acquiring an additional 773 shares during the last quarter. Institutional investors and hedge funds own 38.89% of the company’s stock.

Enlight Renewable Energy Price Performance

Shares of ENLT stock opened at $82.21 on Monday. Enlight Renewable Energy Ltd. has a 1 year low of $22.95 and a 1 year high of $108.65. The firm’s 50 day moving average is $90.97 and its 200-day moving average is $74.52. The firm has a market capitalization of $9.75 billion, a price-to-earnings ratio of 191.19, a PEG ratio of 22.32 and a beta of 1.66. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.68.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings results on Tuesday, March 31st. The company reported $0.16 EPS for the quarter. The business had revenue of $156.49 million for the quarter. Enlight Renewable Energy had a net margin of 9.47% and a return on equity of 2.48%. Sell-side analysts forecast that Enlight Renewable Energy Ltd. will post 0.28 EPS for the current fiscal year.

Insider Activity at Enlight Renewable Energy

In other news, Director Yitzhak Betzalel sold 2,062 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $103.64, for a total transaction of $213,705.68. Following the completion of the transaction, the director directly owned 2 shares of the company’s stock, valued at $207.28. This trade represents a 99.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Israeli Ayelet Cohen sold 10,123 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $108.50, for a total transaction of $1,098,345.50. Following the completion of the sale, the vice president directly owned 20,974 shares in the company, valued at approximately $2,275,679. This represents a 32.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 313,597 shares of company stock worth $29,830,515 over the last 90 days.

Wall Street Analyst Weigh In

ENLT has been the topic of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. Wall Street Zen cut Enlight Renewable Energy from a “hold” rating to a “sell” rating in a report on Sunday. Deutsche Bank Aktiengesellschaft set a $65.00 price objective on Enlight Renewable Energy and gave the company a “hold” rating in a research report on Thursday, April 9th. UBS Group reduced their price objective 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. Finally, JPMorgan Chase & Co. increased their target price on Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a report on Wednesday, May 6th. Three 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $61.83.

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.