First Trust Advisors LP Lowers Holdings in Enlight Renewable Energy Ltd. $ENLT

First Trust Advisors LP reduced its position in Enlight Renewable Energy Ltd. (NASDAQ:ENLT) by 39.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 164,134 shares of the company’s stock after selling 105,436 shares during the quarter. First Trust Advisors LP’s holdings in Enlight Renewable Energy were worth $11,081,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its holdings in shares of Enlight Renewable Energy by 256.1% in the second quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock valued at $28,000 after acquiring an additional 881 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Enlight Renewable Energy during the fourth quarter worth about $56,000. Savant Capital LLC purchased a new position in Enlight Renewable Energy during the fourth quarter worth about $241,000. Mackenzie Financial Corp acquired a new stake in Enlight Renewable Energy in the fourth quarter valued at about $277,000. Finally, AQR Capital Management LLC acquired a new stake in Enlight Renewable Energy in the fourth quarter valued at about $283,000. Hedge funds and other institutional investors own 38.89% of the company’s stock.

Enlight Renewable Energy Stock Down 1.5%

ENLT stock opened at $84.46 on Friday. The company has a market cap of $10.01 billion, a P/E ratio of 196.42, a P/E/G ratio of 23.29 and a beta of 1.66. Enlight Renewable Energy Ltd. has a 52 week low of $22.95 and a 52 week high of $108.65. The company’s 50-day moving average price is $90.44 and its 200 day moving average price is $78.61. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.68.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share for the quarter. Enlight Renewable Energy had a net margin of 9.47% and a return on equity of 2.48%. The company had revenue of $156.49 million for the quarter. On average, research analysts expect that Enlight Renewable Energy Ltd. will post 0.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. UBS Group lowered their price objective on Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Truist Financial started coverage on Enlight Renewable Energy in a research note on Monday, July 13th. They set a “buy” rating and a $106.00 target price for the company. Barclays raised their price target on Enlight Renewable Energy from $83.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, July 20th. Deutsche Bank Aktiengesellschaft set a $65.00 price objective on Enlight Renewable Energy and gave the stock a “hold” rating in a report on Thursday, April 9th. Finally, Wall Street Zen upgraded Enlight Renewable Energy from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Enlight Renewable Energy has an average rating of “Hold” and a consensus target price of $75.00.

Insider Buying and Selling at Enlight Renewable Energy

In related news, Director Michal Tzuk sold 2,400 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $105.86, for a total value of $254,064.00. Following the completion of the transaction, the director directly owned 2,712 shares of the company’s stock, valued at $287,092.32. This trade represents a 46.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Yitzhak Betzalel sold 2,062 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $103.64, for a total value of $213,705.68. Following the completion of the transaction, the director directly owned 2 shares of the company’s stock, valued at $207.28. The trade was a 99.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 313,597 shares of company stock worth $29,830,515.

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.