Enlight Renewable Energy Ltd. $ENLT is Y.D. More Investments Ltd’s 2nd Largest Position

Y.D. More Investments Ltd decreased its position in shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT) by 5.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,514,993 shares of the company’s stock after selling 322,270 shares during the period. Enlight Renewable Energy accounts for approximately 14.0% of Y.D. More Investments Ltd’s portfolio, making the stock its 2nd biggest position. Y.D. More Investments Ltd owned about 4.65% of Enlight Renewable Energy worth $364,789,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ENLT. Amundi increased its position in 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 raised its stake in shares of Enlight Renewable Energy by 0.7% during 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 in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Enlight Renewable Energy during the 2nd quarter valued at about $815,000. First Trust Advisors LP lifted its holdings in shares of Enlight Renewable Energy by 9.6% during the 2nd quarter. First Trust Advisors LP now owns 70,516 shares of the company’s stock valued at $1,600,000 after buying 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 valued at $6,348,000 after buying an additional 24,653 shares in the last quarter. Hedge funds and other institutional investors own 38.89% of the company’s stock.

Enlight Renewable Energy Price Performance

Shares of ENLT stock opened at $82.21 on Monday. The stock’s 50 day simple moving average is $90.97 and its 200 day simple moving average is $74.52. Enlight Renewable Energy Ltd. has a twelve month low of $22.95 and a twelve month 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. The company has a market capitalization of $9.75 billion, a price-to-earnings ratio of 191.19, a PEG ratio of 22.32 and a beta of 1.66.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings data 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 during the quarter. As a group, research analysts predict that Enlight Renewable Energy Ltd. will post 0.28 EPS for the current year.

Analysts Set New Price Targets

ENLT has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price objective 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. Weiss Ratings reissued a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. UBS Group decreased their target price on shares of Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. 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. Finally, Wall Street Zen lowered shares of Enlight Renewable Energy from a “hold” rating to a “sell” rating in a research note on Sunday. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $61.83.

Insider Buying and Selling

In related news, Chairman Gilad Yavetz sold 100,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $91.78, for a total value of $9,178,000.00. Following the completion of the transaction, the chairman owned 846,436 shares of the company’s stock, valued at $77,685,896.08. This represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Yair Seroussi sold 22,505 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $90.63, for a total transaction of $2,039,628.15. Following the transaction, the insider owned 14,233 shares of the company’s stock, valued at approximately $1,289,936.79. This represents a 61.26% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 313,597 shares of company stock worth $29,830,515.

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.