Bleakley Financial Group LLC Invests $2.40 Million in Enlight Renewable Energy Ltd. $ENLT

Bleakley Financial Group LLC acquired a new position in shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT) in the first quarter, HoldingsChannel reports. The fund acquired 35,111 shares of the company’s stock, valued at approximately $2,397,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its holdings in Enlight Renewable Energy by 256.1% during the second 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 shares of Enlight Renewable Energy during the 4th quarter worth about $56,000. Savant Capital LLC bought a new stake in shares of Enlight Renewable Energy in the 4th quarter valued at about $241,000. Jane Street Group LLC increased its stake in shares of Enlight Renewable Energy by 6.0% in the 2nd quarter. Jane Street Group LLC now owns 11,366 shares of the company’s stock valued at $258,000 after acquiring an additional 641 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of Enlight Renewable Energy in the 4th quarter valued at about $277,000. Institutional investors own 38.89% of the company’s stock.

Wall Street Analysts Forecast Growth

ENLT has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft set a $65.00 price objective on shares of Enlight Renewable Energy and gave the stock a “hold” rating in a research note on Thursday, April 9th. Truist Financial assumed coverage on shares of Enlight Renewable Energy in a report on Monday. They issued a “buy” rating and a $106.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 6th. UBS Group decreased their price target on shares of Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $68.14.

Insider Activity

In other news, Chairman Gilad Yavetz sold 100,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chairman directly owned 846,436 shares of the company’s stock, valued at $77,685,896.08. This trade represents a 10.57% 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 Enlight Renewable Energy stock in a transaction that occurred on Monday, June 1st. The shares were 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 owned 20,974 shares in the company, valued at $2,275,679. This trade represents a 32.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 313,597 shares of company stock worth $29,830,515.

Enlight Renewable Energy Stock Down 1.9%

ENLT stock opened at $89.04 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market capitalization of $10.56 billion, a P/E ratio of 207.07, a P/E/G ratio of 17.90 and a beta of 1.66. The business has a 50-day moving average of $90.83 and a 200-day moving average of $75.74. 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 earnings results 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 business had revenue of $156.49 million for the quarter. On average, sell-side analysts anticipate that Enlight Renewable Energy Ltd. will post 0.39 earnings per share for the current fiscal year.

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.