Vanguard Group Inc. Increases Holdings in Enlight Renewable Energy Ltd (NASDAQ:ENLT)

Vanguard Group Inc. increased its position in Enlight Renewable Energy Ltd (NASDAQ:ENLT) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,158,533 shares of the company’s stock after acquiring an additional 35,555 shares during the quarter. Vanguard Group Inc.’s holdings in Enlight Renewable Energy were worth $71,926,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Tidal Investments LLC grew its holdings 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 last quarter. Barclays PLC boosted its position in shares of Enlight Renewable Energy by 4,278.2% in the 3rd quarter. Barclays PLC now owns 25,525 shares of the company’s stock worth $432,000 after buying an additional 24,942 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Enlight Renewable Energy in the 3rd quarter valued at about $655,000. Geode Capital Management LLC increased its holdings in 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 in the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in Enlight Renewable Energy during the third quarter worth about $4,901,000. 38.89% of the stock is owned by hedge funds and other institutional investors.

Enlight Renewable Energy Stock Down 4.9 %

ENLT stock opened at $14.45 on Friday. The company has a 50 day moving average price of $16.50 and a two-hundred day moving average price of $16.35. 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 stock has a market capitalization of $1.67 billion, a P/E ratio of 40.14 and a beta of 1.26. Enlight Renewable Energy Ltd has a one year low of $14.01 and a one year high of $18.48.

Enlight Renewable Energy (NASDAQ:ENLT) last released its earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.17. Enlight Renewable Energy had a return on equity of 3.03% and a net margin of 11.09%. The firm had revenue of $114.21 million during the quarter, compared to analyst estimates of $289.04 million. As a group, sell-side analysts expect that Enlight Renewable Energy Ltd will post 0.41 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Enlight Renewable Energy in a research note on Thursday, March 6th. They set a “buy” rating and a $22.00 price objective for the company. Wolfe Research downgraded Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a research report 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Enlight Renewable Energy has a consensus rating of “Moderate Buy” and a consensus price target of $20.25.

Enlight Renewable Energy Company 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.