Voya Investment Management LLC Cuts Stake in Enlight Renewable Energy Ltd. $ENLT

Key Points

• Voya Investment Management LLC reduced its stake in Enlight Renewable Energy Ltd. by 9% in Q1, selling 32,821 shares and now holding 330,440 shares valued at approximately $5.34 million.
• Enlight Renewable Energy's stock has received mixed analyst ratings, with price targets varying from $21.00 to $28.00, and a consensus rating of "Hold" with a target price of $24.40.
• The company's most recent earnings report showed a miss in EPS, reporting $0.01 against an estimated $0.06, with revenues significantly lower than expected at $36.37 million.

Voya Investment Management LLC cut its stake in Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Free Report) by 9.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,440 shares of the company's stock after selling 32,821 shares during the period. Voya Investment Management LLC's holdings in Enlight Renewable Energy were worth $5,340,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Y.D. More Investments Ltd boosted its position in Enlight Renewable Energy by 18.0% during the 1st quarter. Y.D. More Investments Ltd now owns 3,621,516 shares of the company's stock valued at $57,870,000 after purchasing an additional 553,337 shares during the period. Canada Pension Plan Investment Board boosted its holdings in Enlight Renewable Energy by 131.6% during the first quarter. Canada Pension Plan Investment Board now owns 255,136 shares of the company's stock worth $4,064,000 after buying an additional 144,980 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Enlight Renewable Energy during the first quarter valued at $1,597,000. Vanguard Group Inc. boosted its holdings in shares of Enlight Renewable Energy by 1.7% in the first quarter. Vanguard Group Inc. now owns 4,227,862 shares of the company's stock worth $68,107,000 after buying an additional 69,329 shares during the period. Finally, Deutsche Bank AG boosted its stake in Enlight Renewable Energy by 13.6% in the 1st quarter. Deutsche Bank AG now owns 483,774 shares of the company's stock worth $7,818,000 after purchasing an additional 58,081 shares during the period. 38.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Barclays upped their target price on Enlight Renewable Energy from $21.00 to $26.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Mizuho set a $21.00 target price on Enlight Renewable Energy and gave the company an "underperform" rating in a report on Monday, July 14th. JPMorgan Chase & Co. increased their target price on shares of Enlight Renewable Energy from $24.00 to $27.00 and gave the company a "neutral" rating in a research note on Friday. Roth Capital reissued a "buy" rating and issued a $28.00 price target on shares of Enlight Renewable Energy in a report on Wednesday, August 6th. Finally, Wall Street Zen cut Enlight Renewable Energy from a "hold" rating to a "strong sell" rating in a research report on Sunday, August 10th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Enlight Renewable Energy presently has a consensus rating of "Hold" and a consensus price target of $24.80.

Enlight Renewable Energy Stock Performance

Shares of ENLT traded up $0.46 during mid-day trading on Friday, reaching $29.17. The company's stock had a trading volume of 10,485 shares, compared to its average volume of 18,576. The business has a 50-day simple moving average of $26.52 and a two-hundred day simple moving average of $21.20. Enlight Renewable Energy Ltd. has a 1-year low of $14.01 and a 1-year high of $29.84. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.70 and a current ratio of 0.70.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.05). The company had revenue of $36.37 million during the quarter, compared to the consensus estimate of $424.05 million. Enlight Renewable Energy had a net margin of 23.58% and a return on equity of 7.48%. As a group, sell-side analysts expect that Enlight Renewable Energy Ltd. will post 0.41 earnings per share for the current fiscal year.

Enlight Renewable Energy Profile

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.