Navellier & Associates Inc. Takes $3.48 Million Position in Enlight Renewable Energy Ltd. $ENLT

Navellier & Associates Inc. bought a new position in shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT) in the second quarter, Holdings Channel reports. The fund bought 39,037 shares of the company’s stock, valued at approximately $3,475,000.

A number of other institutional investors have also recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its holdings in shares of Enlight Renewable Energy by 256.1% during the 2nd 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. Versant Capital Management Inc purchased a new stake in shares of Enlight Renewable Energy during the second quarter worth $34,000. State of Wyoming purchased a new stake in shares of Enlight Renewable Energy during the first quarter worth $41,000. Walleye Capital LLC purchased a new stake in shares of Enlight Renewable Energy during the first quarter worth $240,000. Finally, Savant Capital LLC acquired a new stake in Enlight Renewable Energy during the fourth quarter valued at $241,000. Hedge funds and other institutional investors own 38.89% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. UBS Group lowered their target price on 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. Barclays lifted 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. Wall Street Zen cut Enlight Renewable Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. increased their price objective on Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a report on Wednesday, May 6th. Finally, Truist Financial initiated coverage on shares of Enlight Renewable Energy in a research report on Monday, July 13th. They set a “buy” rating and a $106.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Enlight Renewable Energy presently has an average rating of “Hold” and an average price target of $75.00.

Enlight Renewable Energy Stock Down 3.8%

ENLT stock opened at $77.54 on Friday. The firm has a market cap of $9.19 billion, a PE ratio of 125.06, a PEG ratio of 62.99 and a beta of 1.68. Enlight Renewable Energy Ltd. has a 1 year low of $27.02 and a 1 year high of $108.65. The company has a fifty day simple moving average of $85.17 and a 200 day simple moving average of $82.39. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.31.

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

Insider Activity

In other news, VP Israeli Ayelet Cohen sold 10,123 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $108.50, for a total transaction of $1,098,345.50. Following the completion of the sale, the vice president owned 20,974 shares in the company, valued at approximately $2,275,679. This represents a 32.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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.