First Trust Advisors LP Sells 3,441 Shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT)

First Trust Advisors LP cut its stake in shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT) by 7.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 45,328 shares of the company’s stock after selling 3,441 shares during the period. First Trust Advisors LP’s holdings in Enlight Renewable Energy were worth $786,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ENLT. Y.D. More Investments Ltd boosted its holdings in Enlight Renewable Energy by 18.6% during the fourth quarter. Y.D. More Investments Ltd now owns 3,068,179 shares of the company’s stock worth $53,043,000 after purchasing an additional 482,129 shares during the last quarter. Phoenix Financial Ltd. grew its holdings in shares of Enlight Renewable Energy by 42.2% in the fourth quarter. Phoenix Financial Ltd. now owns 1,254,495 shares of the company’s stock valued at $21,634,000 after acquiring an additional 372,403 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Enlight Renewable Energy during the third quarter valued at approximately $4,901,000. Meitav Investment House Ltd. lifted its holdings in Enlight Renewable Energy by 4.0% during the fourth quarter. Meitav Investment House Ltd. now owns 5,901,179 shares of the company’s stock worth $101,910,000 after acquiring an additional 229,255 shares during the period. Finally, Norges Bank purchased a new position in Enlight Renewable Energy in the fourth quarter worth $3,631,000. 38.89% of the stock is owned by hedge funds and other institutional investors.

Enlight Renewable Energy Stock Performance

NASDAQ ENLT opened at $17.79 on Friday. The company’s 50 day moving average is $16.12 and its 200-day moving average is $16.37. The firm has a market cap of $2.06 billion, a P/E ratio of 49.40 and a beta of 1.24. Enlight Renewable Energy Ltd has a 12-month low of $14.01 and a 12-month high of $18.48. The company has a quick ratio of 0.53, a current ratio of 1.22 and a debt-to-equity ratio of 1.98.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.24. Enlight Renewable Energy had a return on equity of 3.03% and a net margin of 11.09%. The firm had revenue of $129.87 million during the quarter, compared to analyst estimates of $396.61 million. Sell-side analysts predict that Enlight Renewable Energy Ltd will post 0.41 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on ENLT. JPMorgan Chase & Co. lifted their target price on Enlight Renewable Energy from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Enlight Renewable Energy in a research report on Thursday, March 6th. They set a “buy” rating and a $22.00 target price for the company. Finally, Wolfe Research downgraded Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 20th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.25.

About Enlight Renewable Energy

Enlight Renewable Energy Ltd operates a renewable energy platform in Israel, Central-Eastern Europe, Western Europe, and the United States. The company develops, finances, constructs, owns, and operates utility-scale renewable energy projects. It develops wind energy and solar energy projects, as well as energy storage projects.