Harel Insurance Investments & Financial Services Ltd. Sells 21,462 Shares of Enlight Renewable Energy Ltd. $ENLT

Harel Insurance Investments & Financial Services Ltd. lessened its stake in Enlight Renewable Energy Ltd. (NASDAQ:ENLT) by 0.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,701,148 shares of the company’s stock after selling 21,462 shares during the period. Enlight Renewable Energy accounts for about 1.3% of Harel Insurance Investments & Financial Services Ltd.’s portfolio, making the stock its 26th largest position. Harel Insurance Investments & Financial Services Ltd. owned 2.28% of Enlight Renewable Energy worth $184,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Enlight Renewable Energy by 26.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 57,621 shares of the company’s stock worth $2,618,000 after acquiring an additional 11,994 shares during the period. Y.D. More Investments Ltd raised its stake in shares of Enlight Renewable Energy by 4.5% during the fourth quarter. Y.D. More Investments Ltd now owns 5,837,263 shares of the company’s stock valued at $264,965,000 after acquiring an additional 252,446 shares in the last quarter. Altshuler Shaham Ltd boosted its holdings in shares of Enlight Renewable Energy by 41.9% in the fourth quarter. Altshuler Shaham Ltd now owns 585,068 shares of the company’s stock valued at $26,557,000 after purchasing an additional 172,718 shares during the period. Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Enlight Renewable Energy by 19.9% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 9,890,141 shares of the company’s stock valued at $448,589,000 after purchasing an additional 1,643,110 shares during the period. Finally, Norges Bank bought a new position in Enlight Renewable Energy in the fourth quarter worth approximately $17,875,000. Institutional investors own 38.89% of the company’s stock.

Insider Buying and Selling

In other news, VP Israeli Ayelet Cohen sold 10,123 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $108.50, for a total value of $1,098,345.50. Following the sale, the vice president directly owned 20,974 shares in the company, valued at approximately $2,275,679. This trade represents a 32.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Yair Seroussi sold 22,505 shares of Enlight Renewable Energy stock in a transaction that occurred on 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 completion of the transaction, 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 position. The SEC filing for this sale provides additional information. Insiders have sold 313,597 shares of company stock valued at $29,830,515 over the last three months.

Enlight Renewable Energy Stock Up 8.8%

Shares of NASDAQ ENLT opened at $90.25 on Wednesday. Enlight Renewable Energy Ltd. has a 12-month low of $22.95 and a 12-month high of $108.65. The stock’s fifty day simple moving average is $90.81 and its two-hundred day simple moving average is $75.10. The stock has a market capitalization of $10.70 billion, a PE ratio of 209.89, a price-to-earnings-growth ratio of 22.52 and a beta of 1.66. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.68.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings results on Tuesday, March 31st. The company reported $0.16 EPS for the quarter. The firm had revenue of $156.49 million during the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%. As a group, analysts expect that Enlight Renewable Energy Ltd. will post 0.28 EPS for the current fiscal year.

Analyst Ratings Changes

ENLT has been the topic of several research reports. UBS Group reduced their price objective 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. Wall Street Zen cut Enlight Renewable Energy from a “hold” rating to a “sell” rating in a report on Sunday. Deutsche Bank Aktiengesellschaft set a $65.00 price target on Enlight Renewable Energy and gave the stock a “hold” rating in a research report on Thursday, April 9th. JPMorgan Chase & Co. raised their price target on Enlight Renewable Energy from $57.00 to $68.00 and gave the company an “underweight” rating in a research note on Wednesday, May 6th. Finally, Truist Financial assumed coverage on Enlight Renewable Energy in a report on Monday. They issued a “buy” rating and a $106.00 price objective for the company. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $68.14.

About Enlight Renewable Energy

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.