Pictet Asset Management Holding SA Increases Stake in Enlight Renewable Energy Ltd (NASDAQ:ENLT)

Pictet Asset Management Holding SA lifted its position in Enlight Renewable Energy Ltd (NASDAQ:ENLT) by 19.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 125,865 shares of the company’s stock after buying an additional 20,345 shares during the period. Pictet Asset Management Holding SA owned about 0.11% of Enlight Renewable Energy worth $2,178,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Tidal Investments LLC lifted its position in Enlight Renewable Energy by 11.3% in the 3rd quarter. Tidal Investments LLC now owns 18,241 shares of the company’s stock valued at $308,000 after acquiring an additional 1,852 shares in the last quarter. Barclays PLC lifted its stake in Enlight Renewable Energy by 4,278.2% during the 3rd quarter. Barclays PLC now owns 25,525 shares of the company’s stock valued at $432,000 after acquiring an additional 24,942 shares during the period. Public Employees Retirement System of Ohio bought a new position in Enlight Renewable Energy during the 3rd quarter valued at about $655,000. Geode Capital Management LLC boosted its holdings in shares of Enlight Renewable Energy by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 103,590 shares of the company’s stock valued at $1,751,000 after acquiring an additional 907 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Enlight Renewable Energy in the fourth quarter worth approximately $3,631,000. Hedge funds and other institutional investors own 38.89% of the company’s stock.

Enlight Renewable Energy Price Performance

NASDAQ ENLT opened at $15.05 on Friday. The business’s fifty day moving average is $16.62 and its 200 day moving average is $16.38. Enlight Renewable Energy Ltd has a fifty-two week low of $14.09 and a fifty-two week high of $18.48. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.53 and a current ratio of 1.22. The company has a market capitalization of $1.74 billion, a PE ratio of 41.81 and a beta of 1.26.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.17. The firm had revenue of $114.21 million for the quarter, compared to analysts’ expectations of $289.04 million. Enlight Renewable Energy had a return on equity of 3.03% and a net margin of 11.09%. Sell-side analysts predict that Enlight Renewable Energy Ltd will post 0.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ENLT. Deutsche Bank Aktiengesellschaft began coverage on shares of Enlight Renewable Energy in a report on Thursday, March 6th. They issued a “buy” rating and a $22.00 target price on the stock. Wolfe Research downgraded Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. upped their price objective on Enlight Renewable Energy from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.