Assenagon Asset Management S.A. Has $33.53 Million Stock Holdings in Enlight Renewable Energy Ltd. $ENLT

Assenagon Asset Management S.A. boosted its stake in Enlight Renewable Energy Ltd. (NASDAQ:ENLT) by 121.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 505,792 shares of the company’s stock after purchasing an additional 277,179 shares during the period. Assenagon Asset Management S.A.’s holdings in Enlight Renewable Energy were worth $33,527,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ENLT. Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Enlight Renewable Energy by 19.9% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 9,890,141 shares of the company’s stock valued at $448,589,000 after acquiring an additional 1,643,110 shares in the last quarter. Y.D. More Investments Ltd increased its stake in shares of Enlight Renewable Energy by 4.5% in 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 buying an additional 252,446 shares during the period. Vanguard Group Inc. increased its stake in shares of Enlight Renewable Energy by 11.3% in the fourth quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company’s stock valued at $225,058,000 after buying an additional 503,060 shares during the period. Legal & General Group Plc raised its holdings in Enlight Renewable Energy by 2.8% in the 3rd quarter. Legal & General Group Plc now owns 1,920,888 shares of the company’s stock valued at $59,253,000 after buying an additional 53,103 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Enlight Renewable Energy by 19.0% in the 4th quarter. Invesco Ltd. now owns 1,468,914 shares of the company’s stock valued at $66,777,000 after buying an additional 234,306 shares during the last quarter. Institutional investors and hedge funds own 38.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a report on Wednesday, May 6th. UBS Group raised their price target on shares of Enlight Renewable Energy from $105.00 to $123.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Deutsche Bank Aktiengesellschaft set a $65.00 price target on shares of Enlight Renewable Energy and gave the stock a “hold” rating in a report on Thursday, April 9th. Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. Finally, Wall Street Zen raised Enlight Renewable Energy from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $63.17.

Enlight Renewable Energy Price Performance

Shares of NASDAQ ENLT opened at $86.31 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.68. The stock has a fifty day simple moving average of $91.01 and a two-hundred day simple moving average of $71.16. Enlight Renewable Energy Ltd. has a 1-year low of $22.61 and a 1-year high of $108.65. The firm has a market cap of $10.23 billion, a price-to-earnings ratio of 200.74, a price-to-earnings-growth ratio of 32.03 and a beta of 1.56.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share (EPS) for the quarter. The company had revenue of $156.49 million for the quarter. Enlight Renewable Energy had a net margin of 9.47% and a return on equity of 2.48%. Analysts anticipate that Enlight Renewable Energy Ltd. will post 0.29 earnings per share for the current year.

Insider Activity

In other Enlight Renewable Energy news, VP Israeli Ayelet Cohen sold 10,123 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $108.50, for a total value of $1,098,345.50. Following the transaction, the vice president directly owned 20,974 shares in the company, valued at $2,275,679. This represents a 32.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Yair Seroussi sold 22,505 shares of Enlight Renewable Energy stock in a transaction 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 sale, the insider directly owned 14,233 shares of the company’s stock, valued at $1,289,936.79. This represents a 61.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders 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.