Short Interest in Enlight Renewable Energy Ltd (NASDAQ:ENLT) Rises By 47.4%

Enlight Renewable Energy Ltd (NASDAQ:ENLT) was the recipient of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 122,900 shares, a growth of 47.4% from the February 13th total of 83,400 shares. Based on an average trading volume of 18,200 shares, the short-interest ratio is currently 6.8 days. Approximately 0.1% of the company’s shares are sold short.

Enlight Renewable Energy Stock Down 1.1 %

Enlight Renewable Energy stock traded down $0.19 during mid-day trading on Friday, reaching $17.01. The stock had a trading volume of 1,547 shares, compared to its average volume of 14,507. The firm has a market capitalization of $1.97 billion, a PE ratio of 47.25 and a beta of 1.38. Enlight Renewable Energy has a fifty-two week low of $14.09 and a fifty-two week high of $18.48. The stock’s 50-day simple moving average is $16.82 and its 200-day simple moving average is $16.38. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.53 and a current ratio of 1.22.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.17. The firm had revenue of $114.21 million for the quarter, compared to the consensus estimate of $289.04 million. Enlight Renewable Energy had a net margin of 11.09% and a return on equity of 3.03%. On average, sell-side analysts forecast that Enlight Renewable Energy will post 0.41 EPS for the current fiscal year.

Institutional Trading of Enlight Renewable Energy

Several institutional investors and hedge funds have recently modified their holdings of ENLT. Clal Insurance Enterprises Holdings Ltd grew its holdings in 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 buying an additional 353,750 shares in the last quarter. Meitav Investment House Ltd. grew its stake in shares of Enlight Renewable Energy by 4.0% in the 4th quarter. Meitav Investment House Ltd. now owns 5,901,179 shares of the company’s stock worth $101,910,000 after acquiring an additional 229,255 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Enlight Renewable Energy by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 4,158,533 shares of the company’s stock valued at $71,926,000 after purchasing an additional 35,555 shares in the last quarter. Y.D. More Investments Ltd boosted its holdings in Enlight Renewable Energy by 18.6% during the fourth quarter. Y.D. More Investments Ltd now owns 3,068,179 shares of the company’s stock worth $53,043,000 after purchasing an additional 482,129 shares during the last quarter. Finally, Phoenix Financial Ltd. grew its position in Enlight Renewable Energy by 42.2% in the 4th quarter. Phoenix Financial Ltd. now owns 1,254,495 shares of the company’s stock worth $21,634,000 after purchasing an additional 372,403 shares in the last quarter. 38.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ENLT has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased 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. Barclays lifted 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. Wolfe Research cut shares of Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Enlight Renewable Energy in a research note on Thursday, March 6th. They issued a “buy” rating and a $22.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.25.

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.