Meitav Investment House Ltd. Has $128.61 Million Stake in Enlight Renewable Energy Ltd. $ENLT

Key Points

• Meitav Investment House Ltd. increased its stake in Enlight Renewable Energy Ltd. by 0.3%, now holding 5,668,798 shares valued at approximately $128.61 million.
• Institutional investors currently own 38.89% of Enlight Renewable Energy's stock, indicating significant interest from major funds.
• Analysts have a mixed outlook on the stock, with a consensus rating of "Hold" and a price target averaging $26.40.

Meitav Investment House Ltd. grew its stake in Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Free Report) by 0.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,668,798 shares of the company's stock after purchasing an additional 19,582 shares during the period. Enlight Renewable Energy comprises about 1.9% of Meitav Investment House Ltd.'s investment portfolio, making the stock its 17th biggest position. Meitav Investment House Ltd.'s holdings in Enlight Renewable Energy were worth $128,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of ENLT. V Square Quantitative Management LLC acquired a new stake in Enlight Renewable Energy in the 2nd quarter worth $106,000. TD Asset Management Inc bought a new position in shares of Enlight Renewable Energy during the 1st quarter worth about $203,000. Advisors Asset Management Inc. lifted its holdings in shares of Enlight Renewable Energy by 70.7% during the 1st quarter. Advisors Asset Management Inc. now owns 27,565 shares of the company's stock worth $445,000 after acquiring an additional 11,414 shares during the period. Amundi lifted its holdings in shares of Enlight Renewable Energy by 2.3% during the 1st quarter. Amundi now owns 74,681 shares of the company's stock worth $1,160,000 after acquiring an additional 1,647 shares during the period. Finally, USS Investment Management Ltd lifted its holdings in shares of Enlight Renewable Energy by 53.6% during the 1st quarter. USS Investment Management Ltd now owns 87,757 shares of the company's stock worth $1,418,000 after acquiring an additional 30,642 shares during the period. 38.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ENLT. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $30.00 price objective on shares of Enlight Renewable Energy in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Enlight Renewable Energy in a report on Saturday, September 27th. Wall Street Zen downgraded shares of Enlight Renewable Energy from a "hold" rating to a "strong sell" rating in a report on Sunday, August 10th. Roth Capital reaffirmed a "buy" rating and set a $28.00 price objective on shares of Enlight Renewable Energy in a report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Enlight Renewable Energy from $24.00 to $27.00 and gave the stock a "neutral" rating in a report on Friday, September 19th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Enlight Renewable Energy presently has an average rating of "Hold" and a consensus price target of $26.40.

Enlight Renewable Energy Trading Up 3.3%

Shares of ENLT stock opened at $32.35 on Tuesday. Enlight Renewable Energy Ltd. has a 12-month low of $14.01 and a 12-month high of $32.47. The company has a market capitalization of $3.74 billion, a P/E ratio of 35.16, a P/E/G ratio of 2.30 and a beta of 1.54. The firm has a 50-day moving average price of $27.52 and a 200 day moving average price of $22.27. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 2.10.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.05). Enlight Renewable Energy had a net margin of 23.58% and a return on equity of 7.48%. The firm had revenue of $36.37 million for the quarter, compared to the consensus estimate of $424.05 million. Research analysts forecast that Enlight Renewable Energy Ltd. will post 0.41 earnings per share for the current fiscal 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.

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