Norges Bank Buys New Holdings in 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 filing with the Securities and Exchange Commission. The fund purchased 209,671 shares of the company’s stock, valued at approximately $3,631,000. Norges Bank owned approximately 0.18% of Enlight Renewable Energy as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Tidal Investments LLC lifted its position in shares of Enlight Renewable Energy by 11.3% during the 3rd quarter. Tidal Investments LLC now owns 18,241 shares of the company’s stock worth $308,000 after purchasing an additional 1,852 shares during the last quarter. Barclays PLC lifted its holdings in Enlight Renewable Energy by 4,278.2% during 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 during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Enlight Renewable Energy during the 3rd quarter worth about $655,000. Geode Capital Management LLC boosted its position in shares of Enlight Renewable Energy by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 103,590 shares of the company’s stock worth $1,751,000 after acquiring an additional 907 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in shares of Enlight Renewable Energy in the 3rd quarter valued at about $4,901,000. 38.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ENLT shares. Wolfe Research downgraded Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. upped their target price on shares of Enlight Renewable Energy from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft started 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 target on the stock. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $20.25.

Enlight Renewable Energy Price Performance

Shares of NASDAQ ENLT opened at $14.45 on Friday. The stock has a market cap of $1.67 billion, a P/E ratio of 40.14 and a beta of 1.26. Enlight Renewable Energy Ltd has a twelve month low of $14.01 and a twelve month high of $18.48. The stock has a 50 day moving average of $16.50 and a two-hundred day moving average of $16.35. 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 (NASDAQ:ENLT) last released its quarterly 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 net margin of 11.09% and a return on equity of 3.03%. The firm had revenue of $114.21 million during the quarter, compared to the consensus estimate of $289.04 million. On average, research analysts forecast that Enlight Renewable Energy Ltd will post 0.41 earnings per share for the current year.

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.