Voya Investment Management LLC Sells 32,821 Shares of 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 reduced its position in Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Free Report) by 9.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 330,440 shares of the company's stock after selling 32,821 shares during the quarter. Voya Investment Management LLC's holdings in Enlight Renewable Energy were worth $5,340,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. USS Investment Management Ltd boosted its stake in Enlight Renewable Energy by 53.6% during the first quarter. USS Investment Management Ltd now owns 87,757 shares of the company's stock worth $1,418,000 after acquiring an additional 30,642 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Enlight Renewable Energy by 70.7% during the first quarter. Advisors Asset Management Inc. now owns 27,565 shares of the company's stock worth $445,000 after buying an additional 11,414 shares during the last quarter. Amundi increased its holdings in Enlight Renewable Energy by 2.3% during the first quarter. Amundi now owns 74,681 shares of the company's stock worth $1,160,000 after buying an additional 1,647 shares during the last quarter. Canada Pension Plan Investment Board increased 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 during the last quarter. Finally, Nuveen LLC purchased a new stake in Enlight Renewable Energy during the first quarter worth about $1,597,000. 38.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Roth Capital restated a "buy" rating and set a $28.00 price objective on shares of Enlight Renewable Energy in a report on Wednesday, August 6th. Mizuho set a $21.00 target price on shares of Enlight Renewable Energy and gave the stock an "underperform" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. raised their price objective on shares of Enlight Renewable Energy from $18.00 to $25.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Wall Street Zen lowered shares of Enlight Renewable Energy from a "hold" rating to a "strong sell" rating in a research report on Sunday, August 10th. Finally, Barclays boosted their price objective on shares of Enlight Renewable Energy from $21.00 to $26.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $24.40.

Enlight Renewable Energy Stock Up 2.2%

NASDAQ:ENLT opened at $28.71 on Friday. The firm's 50-day moving average price is $26.44 and its 200-day moving average price is $21.11. The company has a market capitalization of $3.32 billion, a PE ratio of 31.21, a P/E/G ratio of 3.34 and a beta of 1.51. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.70 and a quick ratio of 0.70. Enlight Renewable Energy Ltd. has a 1-year low of $14.01 and a 1-year high of $29.84.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.05). The business had revenue of $36.37 million during the quarter, compared to analysts' expectations of $424.05 million. Enlight Renewable Energy had a return on equity of 7.48% and a net margin of 23.58%. On average, equities analysts predict that Enlight Renewable Energy Ltd. will post 0.41 EPS 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.

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