Pictet Asset Management SA Makes New Investment in Enlight Renewable Energy Ltd (NASDAQ:ENLT)

Pictet Asset Management SA acquired a new stake in shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 70,152 shares of the company’s stock, valued at approximately $1,169,000. Pictet Asset Management SA owned about 0.06% of Enlight Renewable Energy as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of ENLT. Swiss National Bank acquired a new stake in Enlight Renewable Energy during the 1st quarter valued at $4,194,000. Bank of New York Mellon Corp bought a new stake in shares of Enlight Renewable Energy in the first quarter valued at about $10,742,000. Altshuler Shaham Ltd bought a new position in Enlight Renewable Energy during the first quarter worth about $105,121,000. Clal Insurance Enterprises Holdings Ltd bought a new position in Enlight Renewable Energy during the first quarter worth about $97,676,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Enlight Renewable Energy during the first quarter worth approximately $467,000. Institutional investors and hedge funds own 27.41% of the company’s stock.

Enlight Renewable Energy Stock Down 0.2 %

Shares of ENLT stock opened at $16.51 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.50. Enlight Renewable Energy Ltd has a 52-week low of $15.33 and a 52-week high of $29.70. The firm’s 50-day moving average is $17.98 and its 200-day moving average is $17.57.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its earnings results on Wednesday, August 9th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. Enlight Renewable Energy had a net margin of 25.17% and a return on equity of 5.76%. The firm had revenue of $52.56 million for the quarter, compared to analyst estimates of $69.08 million. As a group, equities research analysts forecast that Enlight Renewable Energy Ltd will post 0.53 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. dropped their price objective on shares of Enlight Renewable Energy from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, August 10th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $21.50.

About Enlight Renewable Energy

Enlight Renewable Energy Ltd operates as a renewable energy platform in Israel and internationally. The company initiates, plans, develops, constructs, and operates projects to produce electricity from renewable energy sources. It develops wind energy and solar energy projects, as well as energy storage projects.