Norges Bank Buys Shares of 209,671 Enlight Renewable Energy Ltd (NASDAQ:ENLT)

Norges Bank purchased a new position in shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 209,671 shares of the company’s stock, valued at approximately $3,631,000.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Enlight Renewable Energy by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 4,158,533 shares of the company’s stock worth $71,926,000 after buying an additional 35,555 shares during the last quarter. Meitav Investment House Ltd. increased its stake in shares of 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. Y.D. More Investments Ltd increased its stake in shares of 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 acquiring an additional 482,129 shares during the period. JPMorgan Chase & Co. purchased a new position in Enlight Renewable Energy during the third quarter worth about $4,901,000. Finally, Tidal Investments LLC lifted its position in Enlight Renewable Energy by 11.3% in the third quarter. Tidal Investments LLC now owns 18,241 shares of the company’s stock valued at $308,000 after purchasing an additional 1,852 shares during the period. 38.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on ENLT. Wolfe Research cut Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. upped their price objective on Enlight Renewable Energy from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft began coverage on Enlight Renewable Energy in a research report on Thursday, March 6th. They issued a “buy” rating and a $22.00 price objective for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Enlight Renewable Energy presently has an average rating of “Moderate Buy” and an average price target of $20.25.

Enlight Renewable Energy Price Performance

ENLT stock opened at $14.45 on Friday. The firm has a 50 day moving average of $16.50 and a 200-day moving average of $16.35. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 40.14 and a beta of 1.26. The company has a current ratio of 1.22, a quick ratio of 0.53 and a debt-to-equity ratio of 1.98. Enlight Renewable Energy Ltd has a 12-month low of $14.01 and a 12-month high of $18.48.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.17. The firm had revenue of $114.21 million during 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%. As a group, equities analysts expect that Enlight Renewable Energy Ltd will post 0.41 EPS for the current fiscal year.

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.