Public Employees Retirement System of Ohio Invests $751,000 in Enlight Renewable Energy Ltd. $ENLT

Public Employees Retirement System of Ohio bought a new position in Enlight Renewable Energy Ltd. (NASDAQ:ENLT) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 8,511 shares of the company’s stock, valued at approximately $751,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ENLT. Versant Capital Management Inc purchased a new stake in Enlight Renewable Energy during the second quarter valued at about $34,000. State of Wyoming purchased a new position in shares of Enlight Renewable Energy in the 1st quarter worth about $41,000. BNP Paribas Financial Markets raised its holdings in shares of Enlight Renewable Energy by 256.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock worth $28,000 after purchasing an additional 881 shares during the period. Walleye Capital LLC acquired a new position in shares of Enlight Renewable Energy in the 1st quarter valued at about $240,000. Finally, Savant Capital LLC acquired a new position in shares of Enlight Renewable Energy in the 4th quarter valued at about $241,000. Institutional investors and hedge funds own 38.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ENLT shares. Wall Street Zen downgraded shares of Enlight Renewable Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Barclays boosted their price objective on shares of Enlight Renewable Energy from $83.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. Weiss Ratings raised shares of Enlight Renewable Energy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, September 3rd. UBS Group cut their target price on shares of Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Finally, Truist Financial assumed coverage on shares of Enlight Renewable Energy in a report on Monday, July 13th. They set a “buy” rating and a $106.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Enlight Renewable Energy currently has an average rating of “Hold” and an average price target of $75.00.

Enlight Renewable Energy Stock Performance

Shares of NASDAQ:ENLT opened at $76.17 on Thursday. The company has a market cap of $9.03 billion, a P/E ratio of 122.85, a PEG ratio of 60.60 and a beta of 1.65. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.12 and a current ratio of 1.12. Enlight Renewable Energy Ltd. has a one year low of $28.03 and a one year high of $108.65. The business’s 50-day simple moving average is $83.46 and its 200 day simple moving average is $83.13.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings results on Tuesday, June 30th. The company reported $0.20 earnings per share for the quarter. Enlight Renewable Energy had a return on equity of 3.52% and a net margin of 12.35%.The firm had revenue of $165.99 million during the quarter. On average, sell-side analysts forecast that Enlight Renewable Energy Ltd. will post 0.35 earnings per share for the current fiscal year.

About Enlight Renewable Energy

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.