Altshuler Shaham Ltd Purchases 172,718 Shares of Enlight Renewable Energy Ltd. $ENLT

Altshuler Shaham Ltd grew its position in Enlight Renewable Energy Ltd. (NASDAQ:ENLT) by 41.9% during the fourth quarter, HoldingsChannel reports. The firm owned 585,068 shares of the company’s stock after buying an additional 172,718 shares during the quarter. Altshuler Shaham Ltd’s holdings in Enlight Renewable Energy were worth $26,557,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of ENLT. Y.D. More Investments Ltd raised its position in shares of Enlight Renewable Energy by 50.5% in the third quarter. Y.D. More Investments Ltd now owns 5,584,817 shares of the company’s stock valued at $172,143,000 after purchasing an additional 1,875,084 shares during the period. Clal Insurance Enterprises Holdings Ltd raised its position in shares of Enlight Renewable Energy by 19.9% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 9,890,141 shares of the company’s stock valued at $448,589,000 after purchasing an additional 1,643,110 shares during the period. Vanguard Group Inc. raised its position in shares of Enlight Renewable Energy by 11.3% in the fourth quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company’s stock valued at $225,058,000 after purchasing an additional 503,060 shares during the period. Norges Bank bought a new position in shares of Enlight Renewable Energy in the fourth quarter valued at approximately $17,875,000. Finally, First Trust Advisors LP raised its position in shares of Enlight Renewable Energy by 269.0% in the third quarter. First Trust Advisors LP now owns 260,192 shares of the company’s stock valued at $8,006,000 after purchasing an additional 189,676 shares during the period. Institutional investors own 38.89% of the company’s stock.

Insider Activity

In other Enlight Renewable Energy news, SVP Meron Carr sold 3,329 shares of Enlight Renewable Energy stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $103.44, for a total transaction of $344,351.76. Following the sale, the senior vice president owned 42,465 shares in the company, valued at $4,392,579.60. The trade was a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Israeli Ayelet Cohen sold 10,123 shares of Enlight Renewable Energy 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 sale, the vice president owned 20,974 shares in the company, valued at $2,275,679. This represents a 32.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 313,597 shares of company stock valued at $29,830,515.

Enlight Renewable Energy Trading Down 8.4%

Shares of ENLT stock opened at $80.53 on Thursday. Enlight Renewable Energy Ltd. has a 1 year low of $19.95 and a 1 year high of $108.65. The firm’s fifty day simple moving average is $89.21 and its 200 day simple moving average is $69.05. The firm has a market capitalization of $9.55 billion, a P/E ratio of 187.28, a price-to-earnings-growth ratio of 31.84 and a beta of 1.56. 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 posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share for the quarter. Enlight Renewable Energy had a net margin of 9.47% and a return on equity of 2.48%. The firm had revenue of $156.49 million for the quarter. As a group, sell-side analysts predict that Enlight Renewable Energy Ltd. will post 0.29 EPS for the current year.

Analyst Ratings Changes

ENLT has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft set a $65.00 price target on shares of Enlight Renewable Energy and gave the company a “hold” rating in a research report on Thursday, April 9th. JPMorgan Chase & Co. boosted their target price 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. Mizuho set a $37.00 target price on shares of Enlight Renewable Energy in a research report on Monday, February 23rd. Wall Street Zen raised shares of Enlight Renewable Energy from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $63.17.

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.