Y.D. More Investments Ltd Increases Position in Enlight Renewable Energy Ltd. $ENLT

Key Points

• Y.D. More Investments increased its stake in Enlight Renewable Energy (NASDAQ:ENLT) by 4.5%, buying 252,446 shares to hold 5,837,263 shares worth $264,965,000, making ENLT 12.4% of its portfolio and its second-largest position.
• Enlight shares traded around $69.87 with a 52-week range of $14.01–$81.28, a market cap of $8.28 billion and a high valuation profile (PE ~68.5) alongside a debt-to-equity ratio of 2.03.
• The company beat EPS expectations (reported $0.10 vs. est. -$0.07) while revenue missed estimates, and analyst coverage is mixed with an average rating of Hold and an average price target of $43.50.

Y.D. More Investments Ltd increased its stake in Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Free Report) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,837,263 shares of the company's stock after buying an additional 252,446 shares during the period. Enlight Renewable Energy accounts for 12.4% of Y.D. More Investments Ltd's portfolio, making the stock its 2nd largest position. Y.D. More Investments Ltd's holdings in Enlight Renewable Energy were worth $264,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. First Trust Advisors LP grew its holdings in shares of Enlight Renewable Energy by 269.0% during the 3rd quarter. First Trust Advisors LP now owns 260,192 shares of the company's stock worth $8,006,000 after acquiring an additional 189,676 shares during the period. Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of Enlight Renewable Energy by 2.1% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,247,031 shares of the company's stock valued at $253,986,000 after purchasing an additional 173,009 shares during the period. Norges Bank purchased a new position in shares of Enlight Renewable Energy in the 2nd quarter valued at approximately $3,608,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Enlight Renewable Energy by 3.9% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,722,610 shares of the company's stock valued at $84,837,000 after purchasing an additional 103,430 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Enlight Renewable Energy by 1,734.8% during the third quarter. Bank of America Corp DE now owns 97,684 shares of the company's stock valued at $3,044,000 after purchasing an additional 92,360 shares in the last quarter. 38.89% of the stock is currently owned by hedge funds and other institutional investors.

Enlight Renewable Energy Stock Performance

Shares of NASDAQ ENLT opened at $69.87 on Monday. The firm's 50 day moving average price is $68.08 and its 200-day moving average price is $49.38. Enlight Renewable Energy Ltd. has a 52-week low of $14.01 and a 52-week high of $81.28. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.88 and a current ratio of 0.67. The company has a market cap of $8.28 billion, a PE ratio of 68.50, a P/E/G ratio of 9.40 and a beta of 1.21.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last announced its quarterly earnings results on Saturday, February 14th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.17. The company had revenue of $124.19 million during the quarter, compared to the consensus estimate of $146.12 million. Enlight Renewable Energy had a net margin of 22.69% and a return on equity of 7.35%. On average, equities research analysts expect that Enlight Renewable Energy Ltd. will post 0.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Barclays reiterated an "overweight" rating on shares of Enlight Renewable Energy in a report on Wednesday, February 18th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $38.00 price target on shares of Enlight Renewable Energy in a research note on Wednesday, January 7th. JPMorgan Chase & Co. reissued an "underweight" rating and set a $35.00 price target on shares of Enlight Renewable Energy in a research report on Monday, December 8th. Finally, Mizuho set a $37.00 price objective on shares of Enlight Renewable Energy in a research note on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Enlight Renewable Energy has an average rating of "Hold" and an average price target of $43.50.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd. NASDAQ: ENLT is an independent power producer specializing in the development, financing, construction and operation of renewable energy assets. The company's portfolio encompasses utility-scale solar photovoltaic (PV) farms, onshore wind farms and energy storage facilities. By providing end-to-end project management—from site identification and feasibility studies through engineering procurement and construction (EPC) to long-term operations and maintenance—Enlight seeks to deliver reliable clean power under long-term power purchase agreements (PPAs).

Founded in 2008 and headquartered in Tel Aviv, Enlight has pursued an international growth strategy with operational and development projects in Israel and Western Europe.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.