Enlight Renewable Energy Ltd (NASDAQ:ENLT) Short Interest Update

Enlight Renewable Energy Ltd (NASDAQ:ENLT) was the recipient of a large 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. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 18,200 shares, the days-to-cover ratio is presently 6.8 days.

Wall Street Analysts Forecast Growth

ENLT has been the subject of a number of research reports. Wolfe Research cut Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 20th. Deutsche Bank Aktiengesellschaft started coverage on shares of Enlight Renewable Energy in a research note on Thursday, March 6th. They set a “buy” rating and a $22.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Enlight Renewable Energy from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Enlight Renewable Energy currently has a consensus rating of “Moderate Buy” and an average target price of $20.25.

Enlight Renewable Energy Stock Performance

NASDAQ:ENLT traded down $0.19 during midday trading on Monday, reaching $17.21. The stock had a trading volume of 6,840 shares, compared to its average volume of 14,349. The stock has a market cap of $1.99 billion, a P/E ratio of 47.81 and a beta of 1.38. The company has a quick ratio of 0.53, a current ratio of 1.22 and a debt-to-equity ratio of 1.98. Enlight Renewable Energy has a 12-month low of $14.09 and a 12-month high of $18.48. The firm has a fifty day simple moving average of $16.82 and a two-hundred day simple moving average of $16.38.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.17. The business had revenue of $114.21 million for the quarter, compared to analyst estimates of $289.04 million. Enlight Renewable Energy had a net margin of 11.09% and a return on equity of 3.03%. On average, equities analysts expect that Enlight Renewable Energy will post 0.41 EPS for the current year.

Institutional Trading of Enlight Renewable Energy

Institutional investors have recently modified their holdings of the business. Edmond DE Rothschild Holding S.A. lifted its holdings in Enlight Renewable Energy by 51.0% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 1,850 shares of the company’s stock valued at $32,000 after acquiring an additional 625 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of Enlight Renewable Energy in the 4th quarter valued at about $145,000. Jane Street Group LLC acquired a new stake in shares of Enlight Renewable Energy in the fourth quarter valued at about $196,000. Advisors Asset Management Inc. boosted its holdings in Enlight Renewable Energy by 1,181.5% during the third 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 in the last quarter. Finally, Tidal Investments LLC grew its position in Enlight Renewable Energy by 11.3% during the third quarter. Tidal Investments LLC now owns 18,241 shares of the company’s stock worth $308,000 after buying an additional 1,852 shares during the period. 38.89% of the stock is currently owned by hedge funds and other institutional investors.

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.