Meitav Investment House Ltd. Cuts Stock Holdings in Enlight Renewable Energy Ltd (NASDAQ:ENLT)

Meitav Investment House Ltd. lessened its holdings in Enlight Renewable Energy Ltd (NASDAQ:ENLT - Free Report) by 5.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,671,924 shares of the company's stock after selling 300,430 shares during the quarter. Enlight Renewable Energy comprises 1.6% of Meitav Investment House Ltd.'s portfolio, making the stock its 20th largest position. Meitav Investment House Ltd. owned approximately 4.91% of Enlight Renewable Energy worth $95,688,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tidal Investments LLC purchased a new stake in Enlight Renewable Energy in the first quarter worth about $254,000. Susquehanna International Group Ltd. purchased a new stake in shares of Enlight Renewable Energy during the second quarter valued at approximately $253,000. Capstone Investment Advisors LLC grew its holdings in shares of Enlight Renewable Energy by 9.0% during the first quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the company's stock valued at $369,000 after buying an additional 1,800 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Enlight Renewable Energy during the first quarter valued at approximately $377,000. Finally, Swiss National Bank lifted its position in Enlight Renewable Energy by 1.3% during the first quarter. Swiss National Bank now owns 236,337 shares of the company's stock valued at $3,954,000 after purchasing an additional 3,045 shares during the period. Hedge funds and other institutional investors own 38.89% of the company's stock.

Wall Street Analyst Weigh In

Separately, Roth Mkm restated a "buy" rating and set a $20.00 price objective on shares of Enlight Renewable Energy in a research report on Wednesday, August 14th.

Enlight Renewable Energy Stock Performance

ENLT traded down $0.12 during trading on Thursday, hitting $15.90. The company's stock had a trading volume of 10,577 shares, compared to its average volume of 26,624. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.59. Enlight Renewable Energy Ltd has a one year low of $13.29 and a one year high of $20.00. The firm has a market cap of $1.84 billion, a PE ratio of 31.41 and a beta of 1.69. The business's 50 day simple moving average is $16.00 and its 200-day simple moving average is $16.38.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.07. The firm had revenue of $84.70 million for the quarter, compared to the consensus estimate of $76.23 million. Enlight Renewable Energy had a net margin of 18.61% and a return on equity of 3.97%. The company's revenue was up 61.0% on a year-over-year basis. During the same period last year, the firm earned $0.12 EPS. As a group, sell-side analysts predict that Enlight Renewable Energy Ltd will post 0.26 EPS 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.