Wealth High Governance Asset Management Ltda. Takes $1.22 Million Position in Enlight Renewable Energy Ltd. $ENLT

Wealth High Governance Asset Management Ltda. acquired a new stake in Enlight Renewable Energy Ltd. (NASDAQ:ENLT) in the first quarter, HoldingsChannel reports. The fund acquired 17,848 shares of the company’s stock, valued at approximately $1,218,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ENLT. State of Wyoming bought a new position in Enlight Renewable Energy during the first quarter worth $41,000. BNP Paribas Financial Markets increased its stake in Enlight Renewable Energy by 256.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock worth $28,000 after acquiring an additional 881 shares during the period. V Square Quantitative Management LLC bought a new stake in Enlight Renewable Energy during the fourth quarter worth about $56,000. Walleye Capital LLC acquired a new position in Enlight Renewable Energy during the first quarter valued at approximately $240,000. Finally, Savant Capital LLC bought a new stake in shares of Enlight Renewable Energy during the 4th quarter worth $241,000. 38.89% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Vice Chairman Yair Seroussi sold 12,036 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $102.24, for a total value of $1,230,560.64. Following the transaction, the insider owned 14,233 shares in the company, valued at approximately $1,455,181.92. This represents a 45.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michal Tzuk sold 2,400 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $105.86, for a total value of $254,064.00. Following the transaction, the director owned 2,712 shares of the company’s stock, valued at $287,092.32. The trade was a 46.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 313,597 shares of company stock worth $29,830,515 in the last three months.

Enlight Renewable Energy Stock Performance

Shares of ENLT stock opened at $84.46 on Monday. 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 $10.01 billion, a price-to-earnings ratio of 196.42, a PEG ratio of 22.93 and a beta of 1.66. The company has a 50-day simple moving average of $90.44 and a two-hundred day simple moving average of $78.80. Enlight Renewable Energy Ltd. has a 52-week low of $22.95 and a 52-week high of $108.65.

Enlight Renewable Energy (NASDAQ:ENLT) last issued 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 for the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%. Research analysts anticipate that Enlight Renewable Energy Ltd. will post 0.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ENLT has been the topic of a number of research analyst reports. UBS Group cut their target price on shares of Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Truist Financial began coverage on shares of Enlight Renewable Energy in a research report on Monday, July 13th. They set a “buy” rating and a $106.00 target price for the company. Wall Street Zen raised Enlight Renewable Energy from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Barclays boosted their target price on shares of Enlight Renewable Energy from $83.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. Finally, Deutsche Bank Aktiengesellschaft set a $65.00 price target on Enlight Renewable Energy and gave the stock 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 issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Enlight Renewable Energy presently has a consensus rating of “Hold” and an average target price of $75.00.

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.