Enlight Renewable Energy Ltd. $ENLT Shares Sold by Yelin Lapidot Holdings Management Ltd.

Key Points

• Yelin Lapidot Holdings Management cut its stake in Enlight Renewable Energy by 38.5% in the first quarter, leaving it with 122,283 shares valued at about $8.35 million.
• Insider selling has been notable, with director Shai Yeshayahu Weil and insider Ilan Goren both selling shares recently; insiders sold 313,597 shares worth about $29.8 million over the last 90 days.
• Analysts are mixed on ENLT: the stock currently has a consensus rating of “Hold” with an average price target of $63.17, even as UBS raised its target to $123 and gave the shares a buy rating.

Yelin Lapidot Holdings Management Ltd. reduced its stake in Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Free Report) by 38.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,283 shares of the company's stock after selling 76,561 shares during the period. Enlight Renewable Energy makes up about 1.7% of Yelin Lapidot Holdings Management Ltd.'s investment portfolio, making the stock its 18th biggest holding. Yelin Lapidot Holdings Management Ltd. owned approximately 0.10% of Enlight Renewable Energy worth $8,347,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in ENLT. Pictet Asset Management Holding SA lifted its holdings in Enlight Renewable Energy by 3.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 126,798 shares of the company's stock worth $8,405,000 after buying an additional 3,970 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Enlight Renewable Energy by 121.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 505,792 shares of the company's stock valued at $33,527,000 after acquiring an additional 277,179 shares during the last quarter. Invesco Ltd. boosted its stake in Enlight Renewable Energy by 19.0% during the 4th quarter. Invesco Ltd. now owns 1,468,914 shares of the company's stock valued at $66,777,000 after acquiring an additional 234,306 shares during the last quarter. Mackenzie Financial Corp acquired a new position in Enlight Renewable Energy during the 4th quarter worth $277,000. Finally, Quadrature Capital Ltd acquired a new position in Enlight Renewable Energy during the 4th quarter worth $355,000. 38.89% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Enlight Renewable Energy

In related news, Director Shai Yeshayahu Weil sold 73,436 shares of the stock in a transaction that occurred on Monday, May 25th. The stock was sold at an average price of $93.68, for a total value of $6,879,484.48. Following the completion of the transaction, the director directly owned 396,655 shares of the company's stock, valued at $37,158,640.40. This represents a 15.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ilan Goren sold 26,622 shares of the business's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $103.76, for a total value of $2,762,298.72. Following the transaction, the insider owned 42,835 shares of the company's stock, valued at $4,444,559.60. This trade represents a 38.33% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 313,597 shares of company stock valued at $29,830,515.

Enlight Renewable Energy Stock Performance

Shares of ENLT opened at $86.31 on Monday. The firm has a fifty day moving average of $91.01 and a 200-day moving average of $71.38. The company has a market cap of $10.23 billion, a price-to-earnings ratio of 200.74, a price-to-earnings-growth ratio of 31.32 and a beta of 1.56. 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 Ltd. has a 1 year low of $22.61 and a 1 year high of $108.65.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.16 earnings per share for the quarter. The firm had revenue of $156.49 million for the quarter. Enlight Renewable Energy had a net margin of 9.47% and a return on equity of 2.48%. As a group, equities analysts anticipate that Enlight Renewable Energy Ltd. will post 0.29 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ENLT. UBS Group upped their target price on shares of Enlight Renewable Energy from $105.00 to $123.00 and gave the company a "buy" rating in a research note on Friday, May 29th. Weiss Ratings reissued a "hold (c)" rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. JPMorgan Chase & Co. increased their target price on 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 Enlight Renewable Energy and gave the stock a "hold" rating in a research report on Thursday, April 9th. Finally, Wall Street Zen raised shares of Enlight Renewable Energy from a "sell" rating to a "hold" rating in a report on Saturday, June 6th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Enlight Renewable Energy currently has a consensus rating of "Hold" and an average price target of $63.17.

Enlight Renewable Energy 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.

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