Assenagon Asset Management S.A. Lowers Position in Enlight Renewable Energy Ltd. $ENLT

Assenagon Asset Management S.A. decreased its stake in shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT) by 31.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 228,613 shares of the company’s stock after selling 103,126 shares during the period. Assenagon Asset Management S.A. owned 0.20% of Enlight Renewable Energy worth $10,387,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Y.D. More Investments Ltd raised its position in shares of Enlight Renewable Energy by 50.5% in the 3rd quarter. Y.D. More Investments Ltd now owns 5,584,817 shares of the company’s stock worth $172,143,000 after buying an additional 1,875,084 shares during the period. First Trust Advisors LP lifted its stake in shares of Enlight Renewable Energy by 269.0% in the 3rd quarter. First Trust Advisors LP now owns 260,192 shares of the company’s stock valued at $8,006,000 after purchasing an additional 189,676 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Enlight Renewable Energy by 2.1% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,247,031 shares of the company’s stock worth $253,986,000 after purchasing an additional 173,009 shares during the period. Norges Bank acquired a new stake in Enlight Renewable Energy during the 2nd quarter worth approximately $3,608,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its holdings in Enlight Renewable Energy by 3.9% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,722,610 shares of the company’s stock valued at $84,837,000 after buying an additional 103,430 shares during the period. Institutional investors and hedge funds own 38.89% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $38.00 price objective on shares of Enlight Renewable Energy in a research report on Wednesday, January 7th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $35.00 price objective on shares of Enlight Renewable Energy in a research report on Monday, December 8th. Mizuho set a $37.00 price objective on Enlight Renewable Energy in a research note on Monday, February 23rd. UBS Group upped their target price on Enlight Renewable Energy to $65.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Finally, Barclays reiterated an “overweight” rating on shares of Enlight Renewable Energy in a report on Wednesday, February 18th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $43.50.

Enlight Renewable Energy Trading Down 8.3%

NASDAQ ENLT opened at $65.99 on Friday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.88 and a current ratio of 0.67. Enlight Renewable Energy Ltd. has a one year low of $14.01 and a one year high of $81.28. The company has a 50-day simple moving average of $66.57 and a 200-day simple moving average of $47.72. The firm has a market capitalization of $7.82 billion, a PE ratio of 64.70, a price-to-earnings-growth ratio of 9.68 and a beta of 1.29.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its earnings results on Wednesday, February 18th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.17. The firm had revenue of $124.19 million for the quarter, compared to analysts’ expectations of $146.12 million. Enlight Renewable Energy had a net margin of 22.69% and a return on equity of 7.35%. On average, equities analysts forecast that Enlight Renewable Energy Ltd. will post 0.41 earnings per share for the current year.

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.