Enlight Renewable Energy Ltd. $ENLT Shares Sold by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. lessened its holdings in shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT) by 0.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,701,148 shares of the company’s stock after selling 21,462 shares during the quarter. Enlight Renewable Energy comprises approximately 1.3% of Harel Insurance Investments & Financial Services Ltd.’s portfolio, making the stock its 26th biggest position. Harel Insurance Investments & Financial Services Ltd.’s holdings in Enlight Renewable Energy were worth $184,381,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. BNP Paribas Financial Markets grew its stake in Enlight Renewable Energy by 256.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock worth $28,000 after buying an additional 881 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Enlight Renewable Energy during the 4th quarter valued at about $56,000. Savant Capital LLC purchased a new stake in Enlight Renewable Energy in the fourth quarter valued at about $241,000. Jane Street Group LLC raised its stake in Enlight Renewable Energy by 6.0% in the second quarter. Jane Street Group LLC now owns 11,366 shares of the company’s stock valued at $258,000 after buying an additional 641 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in Enlight Renewable Energy in the fourth quarter worth about $277,000. Institutional investors and hedge funds own 38.89% of the company’s stock.

Enlight Renewable Energy Stock Up 8.8%

Enlight Renewable Energy stock opened at $90.25 on Wednesday. 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 business’s 50-day simple moving average is $90.81 and its two-hundred day simple moving average is $75.10. The company has a market cap of $10.70 billion, a PE ratio of 209.89, a PEG ratio of 22.52 and a beta of 1.66. Enlight Renewable Energy Ltd. has a fifty-two week low of $22.95 and a fifty-two week high of $108.65.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.16 earnings per share (EPS) 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. Equities analysts anticipate that Enlight Renewable Energy Ltd. will post 0.28 EPS for the current year.

Insider Buying and Selling

In other Enlight Renewable Energy news, insider Ilan Goren sold 26,622 shares of Enlight Renewable Energy stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $103.76, for a total transaction of $2,762,298.72. Following the completion of the sale, the insider directly owned 42,835 shares in the company, valued at approximately $4,444,559.60. The trade was a 38.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Gilad Yavetz sold 100,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $91.78, for a total transaction of $9,178,000.00. Following the completion of the sale, the chairman directly owned 846,436 shares in the company, valued at $77,685,896.08. This trade represents a 10.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 313,597 shares of company stock worth $29,830,515 in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ENLT. Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. Deutsche Bank Aktiengesellschaft set a $65.00 price objective on shares of Enlight Renewable Energy and gave the company a “hold” rating in a research report on Thursday, April 9th. UBS Group dropped their target price on shares of Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Wall Street Zen lowered shares of Enlight Renewable Energy from a “hold” rating to a “sell” rating in a research note on Sunday. Finally, Truist Financial started coverage on shares of Enlight Renewable Energy in a research note on Monday. They set a “buy” rating and a $106.00 price target on the stock. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $68.14.

About Enlight Renewable Energy

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.