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 Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Free Report) by 93.8% in the fourth quarter, according to the company in 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 period. Bank of America Corp DE's holdings in Enlight Renewable Energy were worth $172,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Phoenix Financial Ltd. raised its holdings in Enlight Renewable Energy by 42.2% during the fourth quarter. Phoenix Financial Ltd. now owns 1,254,495 shares of the company's stock worth $21,634,000 after purchasing an additional 372,403 shares in the last quarter. Meitav Investment House Ltd. lifted its stake in 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 valued at $101,910,000 after purchasing an additional 229,255 shares during the last quarter. Norges Bank bought a new stake in Enlight Renewable Energy during the fourth quarter worth approximately $3,631,000. Vanguard Group Inc. grew its position in Enlight Renewable Energy by 0.9% in the fourth 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. Finally, Legal & General Group Plc increased its holdings in shares of Enlight Renewable Energy by 5.7% in the fourth quarter. Legal & General Group Plc now owns 504,508 shares of the company's stock valued at $8,730,000 after buying an additional 27,248 shares in the last quarter. 38.89% of the stock is currently owned by institutional investors.

Enlight Renewable Energy Stock Up 4.3%

Shares of ENLT stock traded up $0.85 during trading on Thursday, hitting $20.50. 78,888 shares of the company were exchanged, compared to its average volume of 17,331. The business's 50-day simple moving average is $17.78 and its 200 day simple moving average is $16.99. Enlight Renewable Energy Ltd. has a twelve month low of $14.01 and a twelve month high of $20.58. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.31 and a current ratio of 1.31.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last released its 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. Enlight Renewable Energy had a net margin of 27.82% and a return on equity of 8.17%. The company had revenue of $129.87 million during the quarter, compared to the consensus estimate of $396.61 million. On average, equities analysts forecast that Enlight Renewable Energy Ltd. will post 0.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Enlight Renewable Energy in a research report on Thursday, March 6th. They set a "buy" rating and a $22.00 target price on the stock. Wolfe Research lowered Enlight Renewable Energy from an "outperform" rating to a "peer perform" rating in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company 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.