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

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

Analyst Ratings Changes

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

Enlight Renewable Energy Stock Performance

Enlight Renewable Energy stock traded down $0.19 during trading hours on Friday, reaching $17.01. 1,547 shares of the company were exchanged, compared to its average volume of 14,507. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 47.25 and a beta of 1.38. The company has a current ratio of 1.22, a quick ratio of 0.53 and a debt-to-equity ratio of 1.98. The stock has a 50-day moving average of $16.82 and a 200 day moving average of $16.38. Enlight Renewable Energy has a 12 month low of $14.09 and a 12 month high of $18.48.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its 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 firm had revenue of $114.21 million during the quarter, compared to analysts’ expectations of $289.04 million. Enlight Renewable Energy had a return on equity of 3.03% and a net margin of 11.09%. As a group, research analysts anticipate that Enlight Renewable Energy will post 0.41 earnings per share for the current year.

Institutional Investors Weigh In On Enlight Renewable Energy

Several hedge funds have recently modified their holdings of ENLT. Advisors Asset Management Inc. boosted its position in shares of Enlight Renewable Energy by 1,181.5% in the third quarter. Advisors Asset Management Inc. now owns 14,263 shares of the company’s stock valued at $241,000 after acquiring an additional 13,150 shares during the period. Clal Insurance Enterprises Holdings Ltd boosted its position in shares of Enlight Renewable Energy by 4.2% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,771,161 shares of the company’s stock valued at $147,885,000 after acquiring an additional 353,750 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Enlight Renewable Energy in the third quarter valued at approximately $655,000. Barclays PLC boosted its position in shares of Enlight Renewable Energy by 4,278.2% in the third quarter. Barclays PLC now owns 25,525 shares of the company’s stock valued at $432,000 after acquiring an additional 24,942 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Enlight Renewable Energy by 0.9% in the third quarter. Geode Capital Management LLC now owns 103,590 shares of the company’s stock valued at $1,751,000 after acquiring an additional 907 shares during the period. 38.89% of the stock is owned by 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.