Norges Bank Buys New Holdings in Enlight Renewable Energy Ltd (NASDAQ:ENLT)

Norges Bank acquired a new stake in Enlight Renewable Energy Ltd (NASDAQ:ENLT - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 209,671 shares of the company's stock, valued at approximately $3,631,000. Norges Bank owned about 0.18% of Enlight Renewable Energy at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tidal Investments LLC grew its position in shares of Enlight Renewable Energy by 11.3% in the third quarter. Tidal Investments LLC now owns 18,241 shares of the company's stock valued at $308,000 after purchasing an additional 1,852 shares during the last quarter. Barclays PLC raised its position in shares of Enlight Renewable Energy by 4,278.2% in the 3rd quarter. Barclays PLC now owns 25,525 shares of the company's stock valued at $432,000 after buying an additional 24,942 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Enlight Renewable Energy during the 3rd quarter worth approximately $655,000. Geode Capital Management LLC boosted its position in shares of Enlight Renewable Energy by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 103,590 shares of the company's stock worth $1,751,000 after acquiring an additional 907 shares in the last quarter. Finally, JPMorgan Chase & Co. bought a new position in Enlight Renewable Energy in the third quarter valued at approximately $4,901,000. Institutional investors own 38.89% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in 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 price objective for the company. Wolfe Research cut shares of Enlight Renewable Energy from an "outperform" rating to a "peer perform" rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. raised their price objective on Enlight Renewable Energy from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Two 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $20.25.

Enlight Renewable Energy Trading Up 1.9 %

ENLT stock traded up $0.30 during trading on Wednesday, hitting $15.46. The company had a trading volume of 568 shares, compared to its average volume of 16,208. The company has a current ratio of 1.22, a quick ratio of 0.53 and a debt-to-equity ratio of 1.98. Enlight Renewable Energy Ltd has a one year low of $14.01 and a one year high of $18.48. The business has a 50-day moving average of $16.41 and a 200-day moving average of $16.33. The stock has a market cap of $1.79 billion, a PE ratio of 42.93 and a beta of 1.26.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.13) by $0.17. Enlight Renewable Energy had a return on equity of 3.03% and a net margin of 11.09%. The firm had revenue of $114.21 million during the quarter, compared to the consensus estimate of $289.04 million. Research analysts predict that Enlight Renewable Energy Ltd will post 0.41 earnings per share for the current fiscal 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.