35,111 Shares in Enlight Renewable Energy Ltd. $ENLT Bought by Bleakley Financial Group LLC

Key Points

• Bleakley Financial Group LLC initiated a new position in Enlight Renewable Energy, buying 35,111 shares valued at about $2.4 million in the first quarter.
• Analysts are mixed on ENLT: the consensus rating is Hold with an average price target of $68.14, even as some firms still rate it a buy and Truist recently started coverage with a $106 target.
• Insider selling has been notable, with Vice Chairman Yair Seroussi and Director Yitzhak Betzalel both selling shares; insiders have sold 313,597 shares worth about $29.8 million over the last 90 days.

Bleakley Financial Group LLC bought a new stake in shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 35,111 shares of the company's stock, valued at approximately $2,397,000.

Several other large investors have also recently added to or reduced their stakes in the company. Amundi grew its holdings in shares of Enlight Renewable Energy by 2.3% during the 1st quarter. Amundi now owns 74,681 shares of the company's stock worth $1,160,000 after purchasing an additional 1,647 shares in the last quarter. Geode Capital Management LLC lifted its position in Enlight Renewable Energy by 0.7% in the second quarter. Geode Capital Management LLC now owns 108,157 shares of the company's stock worth $2,458,000 after purchasing an additional 773 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Enlight Renewable Energy in the second quarter worth $815,000. First Trust Advisors LP boosted its stake in Enlight Renewable Energy by 9.6% during the second quarter. First Trust Advisors LP now owns 70,516 shares of the company's stock worth $1,600,000 after buying an additional 6,201 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Enlight Renewable Energy by 9.7% during the second quarter. Canada Pension Plan Investment Board now owns 279,789 shares of the company's stock worth $6,348,000 after buying an additional 24,653 shares in the last quarter. Institutional investors and hedge funds own 38.89% of the company's stock.

Analysts Set New Price Targets

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

Insider Transactions at Enlight Renewable Energy

In other Enlight Renewable Energy news, Vice Chairman Yair Seroussi sold 12,036 shares of the business's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $102.24, for a total transaction of $1,230,560.64. Following the completion of the sale, the insider directly owned 14,233 shares of the company's stock, valued at approximately $1,455,181.92. The trade was a 45.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Yitzhak Betzalel sold 2,062 shares of the company's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $103.64, for a total transaction of $213,705.68. Following the transaction, the director owned 2 shares in the company, valued at approximately $207.28. The trade was a 99.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 313,597 shares of company stock valued at $29,830,515.

Enlight Renewable Energy Stock Down 1.9%

Shares of ENLT opened at $89.04 on Friday. The business's fifty day moving average price is $90.83 and its two-hundred day moving average price is $75.74. The firm has a market capitalization of $10.56 billion, a price-to-earnings ratio of 207.07, a PEG ratio of 17.90 and a beta of 1.66. Enlight Renewable Energy Ltd. has a 52 week low of $22.95 and a 52 week high of $108.65. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.77 and a current ratio of 0.77.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last released its earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share for the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%.The company had revenue of $156.49 million during the quarter. On average, analysts predict that Enlight Renewable Energy Ltd. will post 0.39 earnings per share 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.

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