Counterpoint Mutual Funds LLC Makes New Investment in Enlight Renewable Energy Ltd. $ENLT

Counterpoint Mutual Funds LLC bought a new position in Enlight Renewable Energy Ltd. (NASDAQ:ENLT) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,802 shares of the company’s stock, valued at approximately $533,000.

A number of other large investors have also made changes to their positions in the company. USS Investment Management Ltd increased its position in shares of Enlight Renewable Energy by 3.5% during the 1st quarter. USS Investment Management Ltd now owns 88,084 shares of the company’s stock valued at $6,013,000 after purchasing an additional 2,981 shares during the last quarter. Pictet Asset Management Holding SA grew its position in Enlight Renewable Energy by 3.2% during the first quarter. Pictet Asset Management Holding SA now owns 126,798 shares of the company’s stock valued at $8,405,000 after buying an additional 3,970 shares during the period. Assenagon Asset Management S.A. increased its holdings in Enlight Renewable Energy by 121.2% during the first quarter. Assenagon Asset Management S.A. now owns 505,792 shares of the company’s stock valued at $33,527,000 after buying an additional 277,179 shares during the last quarter. Invesco Ltd. increased its holdings in Enlight Renewable Energy by 19.0% during the fourth quarter. Invesco Ltd. now owns 1,468,914 shares of the company’s stock valued at $66,777,000 after buying an additional 234,306 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of Enlight Renewable Energy during the 4th quarter valued at $277,000. 38.89% of the stock is currently owned by institutional investors.

Enlight Renewable Energy Stock Performance

NASDAQ ENLT opened at $84.26 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.68. Enlight Renewable Energy Ltd. has a twelve month low of $22.95 and a twelve month high of $108.65. The business has a 50-day moving average price of $91.43 and a 200-day moving average price of $72.78. The firm has a market cap of $9.99 billion, a price-to-earnings ratio of 195.96, a price-to-earnings-growth ratio of 30.53 and a beta of 1.66.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share (EPS) for the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%.The company had revenue of $156.49 million for the quarter. As a group, equities research analysts predict that Enlight Renewable Energy Ltd. will post 0.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price objective on Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 6th. Wall Street Zen raised shares of Enlight Renewable Energy from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. UBS Group upped their price target on shares of Enlight Renewable Energy from $105.00 to $123.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. Finally, Deutsche Bank Aktiengesellschaft set a $65.00 price objective on shares of Enlight Renewable Energy and gave the company a “hold” rating in a research report on Thursday, April 9th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $63.17.

Insider Buying and Selling at Enlight Renewable Energy

In other Enlight Renewable Energy news, Director Michal Tzuk sold 2,400 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $105.86, for a total transaction of $254,064.00. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Israeli Ayelet Cohen sold 10,123 shares of Enlight Renewable Energy stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $108.50, for a total transaction of $1,098,345.50. Following the sale, the vice president owned 20,974 shares in the company, valued at approximately $2,275,679. The trade was a 32.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders 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.