Lazard Asset Management LLC Acquires Shares of 34,771 Enlight Renewable Energy Ltd. $ENLT

Lazard Asset Management LLC bought a new position in shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 34,771 shares of the company's stock, valued at approximately $2,305,000.

Other hedge funds also recently made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd raised its position in shares of 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 valued at $774,113,000 after buying an additional 1,797,936 shares in the last quarter. Vanguard Group Inc. increased its stake in Enlight Renewable Energy by 11.3% during the 4th quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company's stock worth $225,058,000 after acquiring an additional 503,060 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Enlight Renewable Energy by 68.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 995,347 shares of the company's stock valued at $66,126,000 after acquiring an additional 404,304 shares in the last quarter. Norges Bank acquired a new position in Enlight Renewable Energy in the 4th quarter valued at $17,875,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of 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 period. 38.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. UBS Group reduced their target price on Enlight Renewable Energy from $123.00 to $115.00 and set a "buy" rating on the stock in a report on Tuesday, July 7th. Barclays boosted their price target on Enlight Renewable Energy from $83.00 to $89.00 and gave the company an "overweight" rating in a research note on Monday, July 20th. Deutsche Bank Aktiengesellschaft set a $65.00 price objective on shares of Enlight Renewable Energy and gave the stock a "hold" rating in a research report on Thursday, April 9th. Wall Street Zen raised shares of Enlight Renewable Energy from a "sell" rating to a "hold" rating in a report on Monday, July 20th. Finally, Truist Financial began 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. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Enlight Renewable Energy has a consensus rating of "Hold" and a consensus price target of $75.00.

Insider Transactions at Enlight Renewable Energy

In other Enlight Renewable Energy news, VP Israeli Ayelet Cohen sold 10,123 shares of the business's stock in a transaction dated 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 completion of the transaction, the vice president owned 20,974 shares of the company's stock, valued at approximately $2,275,679. The trade was a 32.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Gilad Yavetz sold 100,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $91.78, for a total transaction of $9,178,000.00. Following the completion of the transaction, the chairman directly owned 846,436 shares of the company's stock, valued at $77,685,896.08. This trade represents a 10.57% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 313,597 shares of company stock valued at $29,830,515.

Enlight Renewable Energy Stock Performance

Shares of ENLT stock opened at $84.46 on Monday. Enlight Renewable Energy Ltd. has a fifty-two week low of $22.95 and a fifty-two week high of $108.65. The stock's fifty day moving average price is $90.44 and its two-hundred day moving average price is $78.80. 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 company has a market cap of $10.01 billion, a PE ratio of 196.42, a P/E/G ratio of 22.93 and a beta of 1.66.

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. 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. Equities analysts predict that Enlight Renewable Energy Ltd. will post 0.28 EPS for the current fiscal year.

Enlight Renewable Energy Company 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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