Bank of America Corp DE Has $172,000 Stock Position in Enlight Renewable Energy Ltd. (NASDAQ:ENLT)

Bank of America Corp DE reduced its stake in shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Free Report) by 93.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,965 shares of the company's stock after selling 150,297 shares during the quarter. Bank of America Corp DE's holdings in Enlight Renewable Energy were worth $172,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ENLT. Meitav Investment House Ltd. increased its stake in Enlight Renewable Energy by 4.0% during the 4th quarter. Meitav Investment House Ltd. now owns 5,901,179 shares of the company's stock worth $101,910,000 after purchasing an additional 229,255 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Enlight Renewable Energy by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 4,158,533 shares of the company's stock valued at $71,926,000 after buying an additional 35,555 shares during the last quarter. Norges Bank bought a new position in shares of Enlight Renewable Energy in the 4th quarter valued at about $3,631,000. Pictet Asset Management Holding SA grew its holdings in Enlight Renewable Energy by 19.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 125,865 shares of the company's stock worth $2,178,000 after purchasing an additional 20,345 shares during the period. Finally, Edmond DE Rothschild Holding S.A. increased its holdings in shares of Enlight Renewable Energy by 51.0% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 1,850 shares of the company's stock worth $32,000 after acquiring an additional 625 shares during the last quarter. 38.89% of the stock is currently owned by institutional investors and hedge funds.

Enlight Renewable Energy Price Performance

NASDAQ:ENLT traded down $0.23 during mid-day trading on Tuesday, reaching $19.65. 44,636 shares of the company's stock were exchanged, compared to its average volume of 17,035. Enlight Renewable Energy Ltd. has a one year low of $14.01 and a one year high of $20.44. The business's fifty day simple moving average is $17.58 and its two-hundred day simple moving average is $16.94. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.31 and a quick ratio of 1.31.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.24. The business had revenue of $129.87 million for the quarter, compared to the consensus estimate of $396.61 million. Enlight Renewable Energy had a return on equity of 8.17% and a net margin of 27.82%. Analysts forecast that Enlight Renewable Energy Ltd. will post 0.41 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wolfe Research downgraded shares of Enlight Renewable Energy from an "outperform" rating to a "peer perform" rating in a report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft began coverage on shares of Enlight Renewable Energy in a research report on Thursday, March 6th. They set a "buy" rating and a $22.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.25.

Enlight Renewable Energy 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.