Fmr LLC Reduces Position in Enlight Renewable Energy Ltd (NASDAQ:ENLT)

Fmr LLC decreased its stake in shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT) by 6.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 89,187 shares of the company’s stock after selling 5,821 shares during the period. Fmr LLC owned 0.08% of Enlight Renewable Energy worth $1,496,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Advisors Asset Management Inc. boosted its holdings in Enlight Renewable Energy by 1,181.5% in the third quarter. Advisors Asset Management Inc. now owns 14,263 shares of the company’s stock valued at $241,000 after acquiring an additional 13,150 shares during the last quarter. Susquehanna International Group Ltd. acquired a new position in shares of Enlight Renewable Energy during the second quarter worth about $253,000. Y.D. More Investments Ltd lifted its stake in shares of Enlight Renewable Energy by 94,919.7% during the second quarter. Y.D. More Investments Ltd now owns 1,957,405 shares of the company’s stock worth $31,166,000 after purchasing an additional 1,955,345 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of Enlight Renewable Energy by 4.2% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,771,161 shares of the company’s stock worth $147,885,000 after purchasing an additional 353,750 shares in the last quarter. Hedge funds and other institutional investors own 38.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Barclays boosted their price objective on Enlight Renewable Energy from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th.

Enlight Renewable Energy Stock Performance

Shares of ENLT stock opened at $15.95 on Monday. Enlight Renewable Energy Ltd has a 12-month low of $14.09 and a 12-month high of $20.00. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 36.25 and a beta of 1.69. The business has a 50 day simple moving average of $15.99 and a 200 day simple moving average of $16.12. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.53 and a quick ratio of 0.53.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings results on Wednesday, November 13th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. The firm had revenue of $109.50 million during the quarter, compared to analyst estimates of $83.09 million. Enlight Renewable Energy had a return on equity of 3.34% and a net margin of 13.58%. The firm’s quarterly revenue was up 87.8% on a year-over-year basis. During the same period last year, the company posted $0.13 EPS. On average, equities research analysts anticipate that Enlight Renewable Energy Ltd will post 0.15 EPS for the current 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.