Navellier & Associates Inc. Buys Shares of 39,037 Enlight Renewable Energy Ltd. $ENLT

Navellier & Associates Inc. purchased a new position in shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 39,037 shares of the company’s stock, valued at approximately $3,475,000.

Other large investors have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd increased its position in shares of Enlight Renewable Energy by 705.5% in the 1st quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company’s stock worth $311,645,000 after purchasing an additional 4,127,573 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd grew 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 worth $774,113,000 after purchasing an additional 1,797,936 shares in the last quarter. Vanguard Group Inc. grew its stake in Enlight Renewable Energy by 11.3% in the fourth quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company’s stock worth $225,058,000 after purchasing an additional 503,060 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Enlight Renewable Energy by 68.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 995,347 shares of the company’s stock valued at $66,126,000 after buying an additional 404,304 shares during the last quarter. Finally, Norges Bank bought a new stake in Enlight Renewable Energy in the fourth quarter valued at about $17,875,000. 38.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ENLT has been the topic of a number of recent research reports. Truist Financial initiated coverage on shares of Enlight Renewable Energy in a report on Monday, July 13th. They issued a “buy” rating and a $106.00 target price on the stock. JPMorgan Chase & Co. upped their target price on 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 cut Enlight Renewable Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings downgraded Enlight Renewable Energy from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 19th. Finally, Barclays boosted their price objective on Enlight Renewable Energy from $83.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. 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 issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $75.00.

Insider Transactions at Enlight Renewable Energy

In other news, VP Israeli Ayelet Cohen sold 10,123 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $108.50, for a total value of $1,098,345.50. Following the completion of the transaction, the vice president owned 20,974 shares of the company’s stock, valued at approximately $2,275,679. This represents a 32.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Enlight Renewable Energy Stock Performance

Shares of NASDAQ ENLT opened at $77.54 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.31. The stock has a 50 day simple moving average of $85.17 and a 200-day simple moving average of $82.39. The company has a market cap of $9.19 billion, a PE ratio of 125.06, a P/E/G ratio of 62.99 and a beta of 1.68. Enlight Renewable Energy Ltd. has a 12-month low of $27.02 and a 12-month high of $108.65.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $0.20 earnings per share (EPS) for the quarter. The business had revenue of $165.99 million during the quarter. Enlight Renewable Energy had a return on equity of 3.52% and a net margin of 12.35%. On average, equities research analysts forecast that Enlight Renewable Energy Ltd. will post 0.35 EPS for the current year.

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.