Assenagon Asset Management S.A. Sells 18,464 Shares of Enlight Renewable Energy Ltd. $ENLT

Assenagon Asset Management S.A. decreased its stake in Enlight Renewable Energy Ltd. (NASDAQ:ENLT) by 5.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 331,739 shares of the company’s stock after selling 18,464 shares during the quarter. Assenagon Asset Management S.A. owned 0.29% of Enlight Renewable Energy worth $10,233,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Jane Street Group LLC grew its position in shares of Enlight Renewable Energy by 6.0% during 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 during the period. Bank of Montreal Can boosted its stake in Enlight Renewable Energy by 6.4% during the 2nd quarter. Bank of Montreal Can now owns 11,021 shares of the company’s stock worth $251,000 after acquiring an additional 660 shares during the last quarter. Geode Capital Management LLC grew its holdings in Enlight Renewable Energy by 0.7% during the second 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. BNP Paribas Financial Markets grew its holdings in Enlight Renewable Energy by 256.1% during the second quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock valued at $28,000 after purchasing an additional 881 shares during the period. Finally, TD Asset Management Inc increased its stake in Enlight Renewable Energy by 8.8% in the second quarter. TD Asset Management Inc now owns 13,821 shares of the company’s stock valued at $314,000 after purchasing an additional 1,114 shares in the last quarter. Institutional investors own 38.89% of the company’s stock.

Wall Street Analyst Weigh In

ENLT has been the topic of a number of recent analyst reports. Roth Capital lifted their price target on shares of Enlight Renewable Energy from $30.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Barclays lifted their target price on Enlight Renewable Energy from $34.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. UBS Group began coverage on Enlight Renewable Energy in a research note on Monday, November 24th. They issued a “buy” rating and a $47.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Monday, December 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $30.00 price objective on shares of Enlight Renewable Energy in a research report on Wednesday, October 1st. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Enlight Renewable Energy has an average rating of “Hold” and an average price target of $37.50.

Enlight Renewable Energy Price Performance

Shares of Enlight Renewable Energy stock opened at $41.80 on Friday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.88 and a current ratio of 0.88. The stock’s 50-day moving average is $37.20 and its 200-day moving average is $29.85. Enlight Renewable Energy Ltd. has a one year low of $14.01 and a one year high of $42.38.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its earnings results on Wednesday, November 12th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. Enlight Renewable Energy had a return on equity of 7.41% and a net margin of 22.60%.The business had revenue of $165.06 million for the quarter, compared to analyst estimates of $146.04 million. Research analysts anticipate that Enlight Renewable Energy Ltd. will post 0.41 earnings per share for the current year.

Enlight Renewable Energy Company 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.