Enlight Renewable Energy Ltd. $ENLT Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership grew its stake in Enlight Renewable Energy Ltd. (NASDAQ:ENLT) by 68.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 995,347 shares of the company’s stock after acquiring an additional 404,304 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.84% of Enlight Renewable Energy worth $66,126,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ENLT. Amundi boosted its position in shares of Enlight Renewable Energy by 2.3% during the first quarter. Amundi now owns 74,681 shares of the company’s stock worth $1,160,000 after buying an additional 1,647 shares during the period. Geode Capital Management LLC raised its stake in shares of Enlight Renewable Energy by 0.7% during the second 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 during the last quarter. First Trust Advisors LP raised its stake 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 worth $1,600,000 after buying an additional 6,201 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Enlight Renewable Energy by 9.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 279,789 shares of the company’s stock valued at $6,348,000 after acquiring an additional 24,653 shares during the period. Finally, Jane Street Group LLC boosted its position in shares of Enlight Renewable Energy by 6.0% in the 2nd quarter. Jane Street Group LLC now owns 11,366 shares of the company’s stock worth $258,000 after buying an additional 641 shares in the last quarter. Hedge funds and other institutional investors own 38.89% of the company’s stock.

Enlight Renewable Energy Stock Performance

Shares of ENLT stock opened at $87.00 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 firm has a market capitalization of $10.32 billion, a price-to-earnings ratio of 202.33, a price-to-earnings-growth ratio of 23.62 and a beta of 1.66. Enlight Renewable Energy Ltd. has a one year low of $22.95 and a one year high of $108.65. The company has a 50 day moving average price of $90.68 and a 200 day moving average price of $77.57.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.16 earnings per share (EPS) for the quarter. The company had revenue of $156.49 million during the quarter. Enlight Renewable Energy had a net margin of 9.47% and a return on equity of 2.48%. Sell-side analysts anticipate that Enlight Renewable Energy Ltd. will post 0.28 EPS for the current year.

Insider Transactions at Enlight Renewable Energy

In other news, Vice Chairman Yair Seroussi sold 22,505 shares of the business’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 completion of the sale, the insider 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Gilad Yavetz sold 100,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $91.78, for a total value of $9,178,000.00. Following the sale, the chairman owned 846,436 shares of the company’s stock, valued at $77,685,896.08. The trade was a 10.57% 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 in the last ninety days.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ENLT shares. Deutsche Bank Aktiengesellschaft set a $65.00 target price on Enlight Renewable Energy and gave the company a “hold” rating in a report on Thursday, April 9th. JPMorgan Chase & Co. upped their price objective on Enlight Renewable Energy from $57.00 to $68.00 and gave the company an “underweight” rating in a research report on Wednesday, May 6th. UBS Group decreased their price objective on Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Wall Street Zen raised shares of Enlight Renewable Energy from a “sell” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Truist Financial started coverage on shares of Enlight Renewable Energy in a report on Monday, July 13th. They issued a “buy” rating and a $106.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $75.00.

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.