6,604 Shares in Enlight Renewable Energy Ltd. $ENLT Bought by SEB Asset Management AB

SEB Asset Management AB acquired a new stake in Enlight Renewable Energy Ltd. (NASDAQ:ENLT) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 6,604 shares of the company’s stock, valued at approximately $438,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amundi increased its holdings in Enlight Renewable Energy by 2.3% during 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 in the last quarter. Geode Capital Management LLC raised its stake in shares of Enlight Renewable Energy by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 108,157 shares of the company’s stock valued at $2,458,000 after purchasing an additional 773 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Enlight Renewable Energy in the second quarter valued at about $815,000. First Trust Advisors LP lifted its holdings in shares of Enlight Renewable Energy by 9.6% in the second quarter. First Trust Advisors LP now owns 70,516 shares of the company’s stock valued at $1,600,000 after purchasing an additional 6,201 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Enlight Renewable Energy by 9.7% during the second quarter. Canada Pension Plan Investment Board now owns 279,789 shares of the company’s stock worth $6,348,000 after buying an additional 24,653 shares during the period. 38.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ENLT. Wall Street Zen upgraded Enlight Renewable Energy from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Truist Financial started coverage on Enlight Renewable Energy in a research note on Monday, July 13th. They issued a “buy” rating and a $106.00 target price on the stock. Barclays upped their price target on Enlight Renewable Energy from $83.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. raised their price target on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $75.00.

Enlight Renewable Energy Price Performance

NASDAQ:ENLT opened at $87.00 on Friday. Enlight Renewable Energy Ltd. has a 52-week low of $22.95 and a 52-week high of $108.65. The company has a market cap of $10.32 billion, a P/E ratio of 202.33, a P/E/G ratio of 24.49 and a beta of 1.66. 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 stock’s 50-day simple moving average is $90.68 and its 200 day simple moving average is $77.38.

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 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, sell-side analysts forecast that Enlight Renewable Energy Ltd. will post 0.28 EPS for the current fiscal year.

Insider Activity

In other news, Chairman Gilad Yavetz sold 100,000 shares of the company’s 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 sale, the chairman owned 846,436 shares in the company, valued at $77,685,896.08. This represents a 10.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Israeli Ayelet Cohen sold 10,123 shares of the stock in a transaction that occurred on 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 completion of the sale, the vice president directly owned 20,974 shares of the company’s stock, valued at approximately $2,275,679. The trade was a 32.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, 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.