Enlight Renewable Energy Ltd. $ENLT Shares Sold by Meitav Investment House Ltd.

Meitav Investment House Ltd. trimmed its stake in Enlight Renewable Energy Ltd. (NASDAQ:ENLT) by 28.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,047,739 shares of the company’s stock after selling 1,621,059 shares during the quarter. Enlight Renewable Energy makes up 1.7% of Meitav Investment House Ltd.’s portfolio, making the stock its 20th biggest holding. Meitav Investment House Ltd.’s holdings in Enlight Renewable Energy were worth $125,271,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legal & General Group Plc increased its position in Enlight Renewable Energy by 259.0% during the 2nd quarter. Legal & General Group Plc now owns 1,867,785 shares of the company’s stock worth $42,377,000 after purchasing an additional 1,347,458 shares in the last quarter. Norges Bank purchased a new stake in shares of Enlight Renewable Energy during the second quarter worth about $3,608,000. Phoenix Financial Ltd. raised its position in shares of Enlight Renewable Energy by 10.3% in the second quarter. Phoenix Financial Ltd. now owns 1,383,986 shares of the company’s stock valued at $31,685,000 after buying an additional 129,491 shares during the last quarter. Y.D. More Investments Ltd lifted its stake in shares of Enlight Renewable Energy by 2.4% during the second quarter. Y.D. More Investments Ltd now owns 3,709,733 shares of the company’s stock valued at $84,053,000 after buying an additional 88,217 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Enlight Renewable Energy during the second quarter worth approximately $815,000. 38.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ENLT shares. UBS Group raised their price objective on Enlight Renewable Energy to $65.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $35.00 price objective on shares of Enlight Renewable Energy in a report on Monday, December 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $38.00 target price on shares of Enlight Renewable Energy in a research report on Wednesday, January 7th. Barclays upped their price target on shares of Enlight Renewable Energy from $34.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Finally, Roth Capital lifted their price target on shares of Enlight Renewable Energy from $30.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $41.83.

Enlight Renewable Energy Trading Up 2.0%

Shares of ENLT stock opened at $51.20 on Friday. The stock has a market cap of $5.92 billion, a price-to-earnings ratio of 53.33 and a beta of 1.44. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.91. Enlight Renewable Energy Ltd. has a fifty-two week low of $14.01 and a fifty-two week high of $52.92. The firm’s 50 day moving average price is $42.58 and its two-hundred day moving average price is $33.64.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings data on Wednesday, November 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.09. Enlight Renewable Energy had a net margin of 22.60% and a return on equity of 7.41%. The company had revenue of $165.06 million during the quarter, compared to analyst estimates of $146.04 million. On average, analysts anticipate that Enlight Renewable Energy Ltd. will post 0.41 EPS for the current year.

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.