Norges Bank Invests $17.88 Million in Enlight Renewable Energy Ltd. $ENLT

Norges Bank acquired a new position in Enlight Renewable Energy Ltd. (NASDAQ:ENLT) in the 4th quarter, Holdings Channel.com reports. The firm acquired 393,418 shares of the company’s stock, valued at approximately $17,875,000.

Other institutional investors have also bought and sold shares of the company. BNP Paribas Financial Markets increased its stake in Enlight Renewable Energy by 256.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock worth $28,000 after buying an additional 881 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in Enlight Renewable Energy in the 4th quarter worth $56,000. Savant Capital LLC purchased a new stake in Enlight Renewable Energy in the 4th quarter worth $241,000. Mariner LLC increased its stake in Enlight Renewable Energy by 4.1% in the 3rd quarter. Mariner LLC now owns 10,070 shares of the company’s stock worth $314,000 after buying an additional 396 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in Enlight Renewable Energy by 6.0% in the 2nd quarter. Jane Street Group LLC now owns 11,366 shares of the company’s stock worth $258,000 after buying an additional 641 shares in the last quarter. Hedge funds and other institutional investors own 38.89% of the company’s stock.

Enlight Renewable Energy Trading Up 2.8%

Shares of NASDAQ ENLT opened at $97.75 on Wednesday. The business’s 50 day moving average is $86.56 and its two-hundred day moving average is $66.80. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.77 and a quick ratio of 0.77. Enlight Renewable Energy Ltd. has a 1-year low of $18.22 and a 1-year high of $108.65. The stock has a market capitalization of $11.59 billion, a P/E ratio of 227.33, a PEG ratio of 34.44 and a beta of 1.56.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.16 earnings per share for the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%.The company had revenue of $156.49 million for the quarter. As a group, research analysts expect that Enlight Renewable Energy Ltd. will post 0.29 EPS for the current year.

Wall Street Analyst Weigh In

ENLT has been the subject of a number of analyst reports. Barclays reiterated an “overweight” rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. Wall Street Zen upgraded Enlight Renewable Energy from a “sell” rating to a “hold” rating in a research note on Saturday. Deutsche Bank Aktiengesellschaft set a $65.00 price target on Enlight Renewable Energy and gave the stock a “hold” rating in a research note on Thursday, April 9th. Mizuho set a $37.00 price objective on shares of Enlight Renewable Energy in a report on Monday, February 23rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the company an “underweight” rating in a report on Wednesday, May 6th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Enlight Renewable Energy presently has an average rating of “Hold” and an average price target of $63.17.

Insider Activity at Enlight Renewable Energy

In other Enlight Renewable Energy news, SVP Meron Carr sold 3,329 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $103.44, for a total value of $344,351.76. Following the completion of the sale, the senior vice president owned 42,465 shares of the company’s stock, valued at $4,392,579.60. This trade represents a 7.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Yitzhak Betzalel sold 2,062 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $103.64, for a total transaction of $213,705.68. Following the completion of the sale, the director directly owned 2 shares of the company’s stock, valued at approximately $207.28. The trade was a 99.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 313,597 shares of company stock valued at $29,830,515 over the last ninety days.

About Enlight Renewable Energy

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.