Enlight Renewable Energy Ltd. $ENLT Shares Purchased by Altshuler Shaham Ltd

Key Points

• Altshuler Shaham Ltd increased its stake in Enlight Renewable Energy by 41.9% in the fourth quarter, buying an additional 172,718 shares and bringing its total holdings to 585,068 shares worth about $26.6 million.
• Insiders have been selling shares, including Director Shai Yeshayahu Weil and insider Ilan Goren, with total insider sales reaching 313,597 shares valued at roughly $29.8 million over the last 90 days.
• Analyst sentiment is mixed: the stock currently has an average “Hold” rating and an average price target of $63.17, though UBS recently raised its target to $123 and kept a Buy rating.

Altshuler Shaham Ltd lifted its holdings in Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Free Report) by 41.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 585,068 shares of the company's stock after purchasing an additional 172,718 shares during the period. Altshuler Shaham Ltd's holdings in Enlight Renewable Energy were worth $26,557,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ENLT. Amundi grew its stake in shares of Enlight Renewable Energy by 2.3% in 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 during the last quarter. Geode Capital Management LLC grew its stake in shares of Enlight Renewable Energy by 0.7% in the 2nd 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 last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Enlight Renewable Energy in the 2nd quarter worth approximately $815,000. First Trust Advisors LP grew its stake in shares of Enlight Renewable Energy by 9.6% in the 2nd quarter. First Trust Advisors LP now owns 70,516 shares of the company's stock worth $1,600,000 after purchasing an additional 6,201 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of Enlight Renewable Energy by 9.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 279,789 shares of the company's stock worth $6,348,000 after purchasing an additional 24,653 shares during the last quarter. Institutional investors and hedge funds own 38.89% of the company's stock.

Insider Activity

In related news, Director Shai Yeshayahu Weil sold 73,436 shares of the firm's stock in a transaction that occurred on Monday, May 25th. The shares were sold at an average price of $93.68, for a total transaction of $6,879,484.48. Following the transaction, the director owned 396,655 shares of the company's stock, valued at approximately $37,158,640.40. This trade represents a 15.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ilan Goren sold 26,622 shares of the firm's 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 transaction, 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 313,597 shares of company stock valued at $29,830,515.

Analysts Set New Price Targets

Several research analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an "underweight" rating in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft set a $65.00 target price on shares of Enlight Renewable Energy and gave the stock a "hold" rating in a report on Thursday, April 9th. Barclays reiterated an "overweight" rating on shares of Enlight Renewable Energy in a report on Wednesday, February 18th. Mizuho set a $37.00 target price on shares of Enlight Renewable Energy in a report on Monday, February 23rd. Finally, UBS Group raised their target price on shares of Enlight Renewable Energy from $105.00 to $123.00 and gave the stock a "buy" rating in a report on Friday, May 29th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Enlight Renewable Energy currently has an average rating of "Hold" and an average price target of $63.17.

Enlight Renewable Energy Stock Performance

ENLT stock opened at $80.53 on Thursday. 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 stock has a market cap of $9.55 billion, a P/E ratio of 187.28, a P/E/G ratio of 31.84 and a beta of 1.56. The firm has a 50 day simple moving average of $89.21 and a 200 day simple moving average of $69.05. Enlight Renewable Energy Ltd. has a 52 week low of $19.95 and a 52 week high of $108.65.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.16 EPS for the quarter. The business had revenue of $156.49 million during the quarter. Enlight Renewable Energy had a net margin of 9.47% and a return on equity of 2.48%. Research analysts anticipate that Enlight Renewable Energy Ltd. will post 0.29 earnings per share for the current fiscal 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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