Meitav Investment House Ltd. reduced its stake in Enlight Renewable Energy Ltd (NASDAQ:ENLT – Free Report) by 5.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,671,924 shares of the company’s stock after selling 300,430 shares during the quarter. Enlight Renewable Energy comprises about 1.6% of Meitav Investment House Ltd.’s portfolio, making the stock its 20th largest holding. Meitav Investment House Ltd.’s holdings in Enlight Renewable Energy were worth $95,688,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Susquehanna International Group Ltd. purchased a new position in shares of Enlight Renewable Energy in the 2nd quarter valued at approximately $253,000. Tidal Investments LLC purchased a new position in shares of Enlight Renewable Energy in the 1st quarter valued at approximately $254,000. Capstone Investment Advisors LLC raised its position in shares of Enlight Renewable Energy by 9.0% in the 1st quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the company’s stock valued at $369,000 after purchasing an additional 1,800 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Enlight Renewable Energy in the 1st quarter valued at approximately $377,000. Finally, Swiss National Bank raised its position in shares of Enlight Renewable Energy by 1.3% in the 1st quarter. Swiss National Bank now owns 236,337 shares of the company’s stock valued at $3,954,000 after purchasing an additional 3,045 shares during the last quarter. 38.89% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Separately, Roth Mkm reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Enlight Renewable Energy in a research report on Wednesday, August 14th.
Enlight Renewable Energy Price Performance
Shares of NASDAQ:ENLT opened at $16.02 on Thursday. Enlight Renewable Energy Ltd has a twelve month low of $13.29 and a twelve month high of $20.00. The company’s 50 day moving average is $16.00 and its 200 day moving average is $16.38. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company has a market cap of $1.85 billion, a PE ratio of 31.41 and a beta of 1.69.
Enlight Renewable Energy (NASDAQ:ENLT – Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.07. Enlight Renewable Energy had a net margin of 18.61% and a return on equity of 3.97%. The company had revenue of $84.70 million for the quarter, compared to the consensus estimate of $76.23 million. During the same quarter in the prior year, the company earned $0.12 EPS. Enlight Renewable Energy’s quarterly revenue was up 61.0% on a year-over-year basis. On average, sell-side analysts forecast that Enlight Renewable Energy Ltd will post 0.26 EPS for the current 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.
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