Wealth High Governance Capital Ltda Invests $1.44 Million in Enlight Renewable Energy Ltd. $ENLT

Key Points

• Wealth High Governance Capital acquired 21,076 shares of Enlight Renewable Energy worth approximately $1.44 million during the first quarter. Other institutional investors, including Altshuler Shaham, Clal Insurance and Vanguard, also increased their positions; institutions and hedge funds own 38.89% of the stock.
• Enlight reported quarterly revenue of $156.49 million and earnings of $0.16 per share, while analysts expect full-year EPS of $0.28. The stock recently opened at $84.46, with a market capitalization of about $10.01 billion.
• Analyst sentiment is mixed, with ratings ranging from Strong Buy to Sell and a consensus rating of Hold with a $75 price target. Meanwhile, company insiders sold 313,597 shares worth roughly $29.8 million over the past 90 days.

Wealth High Governance Capital Ltda acquired a new stake in shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 21,076 shares of the company's stock, valued at approximately $1,439,000.

Several other hedge funds have also recently made changes to their positions in the company. Altshuler Shaham Ltd raised its stake in Enlight Renewable Energy by 705.5% in the 1st quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company's stock worth $311,645,000 after acquiring an additional 4,127,573 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd grew its stake in Enlight Renewable Energy by 18.2% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 11,688,077 shares of the company's stock valued at $774,113,000 after purchasing an additional 1,797,936 shares during the last quarter. Vanguard Group Inc. increased its holdings 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. Arrowstreet Capital Limited Partnership raised its stake in shares of Enlight Renewable Energy by 68.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 995,347 shares of the company's stock worth $66,126,000 after purchasing an additional 404,304 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Enlight Renewable Energy in the fourth quarter worth about $17,875,000. 38.89% of the stock is owned by institutional investors and hedge funds.

Enlight Renewable Energy Price Performance

ENLT opened at $84.46 on Monday. The company has a fifty day moving average of $90.44 and a two-hundred day moving average of $78.80. The stock has a market capitalization of $10.01 billion, a price-to-earnings ratio of 196.42, a PEG ratio of 22.93 and a beta of 1.66. Enlight Renewable Energy Ltd. has a fifty-two week low of $22.95 and a fifty-two 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 posted its earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share (EPS) for the quarter. Enlight Renewable Energy had a net margin of 9.47% and a return on equity of 2.48%. The business had revenue of $156.49 million for the quarter. On average, research analysts expect that Enlight Renewable Energy Ltd. will post 0.28 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ENLT. Truist Financial started coverage on Enlight Renewable Energy in a research report on Monday, July 13th. They issued a "buy" rating and a $106.00 target price on the stock. Barclays lifted their price objective on shares of Enlight Renewable Energy from $83.00 to $89.00 and gave the company an "overweight" rating in a research note on Monday, July 20th. JPMorgan Chase & Co. upped their price objective on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the company an "underweight" rating in a report on Wednesday, May 6th. UBS Group lowered their price target on shares of Enlight Renewable Energy from $123.00 to $115.00 and set a "buy" rating on the stock in a report on Tuesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft set a $65.00 price objective on Enlight Renewable Energy and gave the company a "hold" rating in a research note on Thursday, April 9th. One research 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 company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $75.00.

Insider Buying and Selling

In other Enlight Renewable Energy news, Chairman Gilad Yavetz sold 100,000 shares of the stock in a transaction that occurred on 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 transaction, the chairman owned 846,436 shares in the company, valued at approximately $77,685,896.08. This represents a 10.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Yair Seroussi sold 22,505 shares of the firm's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $90.63, for a total value of $2,039,628.15. Following the completion of the sale, the insider directly owned 14,233 shares in the company, valued at approximately $1,289,936.79. The trade was a 61.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 313,597 shares of company stock worth $29,830,515 in the last ninety days.

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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