Sphera Funds Management LTD. Decreases Stake in Enlight Renewable Energy Ltd (NASDAQ:ENLT)

Sphera Funds Management LTD. cut its holdings in shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT) by 10.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 151,860 shares of the company’s stock after selling 17,420 shares during the quarter. Sphera Funds Management LTD. owned 0.13% of Enlight Renewable Energy worth $2,566,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Advisors Asset Management Inc. raised its position in Enlight Renewable Energy by 1,181.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 14,263 shares of the company’s stock worth $241,000 after buying an additional 13,150 shares during the last quarter. Susquehanna International Group Ltd. purchased a new position in Enlight Renewable Energy during the 2nd quarter worth approximately $253,000. Tidal Investments LLC purchased a new position in Enlight Renewable Energy during the 1st quarter worth approximately $254,000. Y.D. More Investments Ltd increased its holdings in shares of Enlight Renewable Energy by 94,919.7% during the 2nd quarter. Y.D. More Investments Ltd now owns 1,957,405 shares of the company’s stock valued at $31,166,000 after purchasing an additional 1,955,345 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Enlight Renewable Energy by 3.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,619,180 shares of the company’s stock valued at $42,326,000 after purchasing an additional 76,873 shares in the last quarter. 38.89% of the stock is owned by hedge funds and other institutional investors.

Enlight Renewable Energy Price Performance

Enlight Renewable Energy stock opened at $16.12 on Thursday. The company’s fifty day moving average price is $15.98 and its 200 day moving average price is $16.20. Enlight Renewable Energy Ltd has a 1 year low of $14.09 and a 1 year high of $20.00. The stock has a market capitalization of $1.86 billion, a P/E ratio of 36.64 and a beta of 1.69. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.53 and a current ratio of 0.53.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ENLT shares. Barclays lifted their target price on shares of Enlight Renewable Energy from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Roth Mkm reaffirmed a “buy” rating and set a $20.00 target price on shares of Enlight Renewable Energy in a report on Wednesday, August 14th.

Enlight Renewable Energy Company Profile

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.