Enlight Renewable Energy Ltd (NASDAQ:ENLT) Short Interest Up 47.4% in February

Enlight Renewable Energy Ltd (NASDAQ:ENLT) was the target of a significant increase in short interest during 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. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 18,200 shares, the short-interest ratio is currently 6.8 days.

Wall Street Analyst Weigh In

Several analysts have issued reports on ENLT shares. Wolfe Research lowered Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. upped their price objective on shares of Enlight Renewable Energy from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Enlight Renewable Energy in a research report on Thursday, March 6th. They issued a “buy” rating and a $22.00 price target on the stock. Finally, Barclays raised their price objective on shares of Enlight Renewable Energy from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Enlight Renewable Energy has an average rating of “Moderate Buy” and a consensus price target of $20.25.

Enlight Renewable Energy Price Performance

Shares of Enlight Renewable Energy stock traded down $0.19 on Friday, reaching $17.01. The stock had a trading volume of 1,547 shares, compared to its average volume of 14,507. The business’s 50 day moving average is $16.82 and its two-hundred day moving average is $16.38. The company has a current ratio of 1.22, a quick ratio of 0.53 and a debt-to-equity ratio of 1.98. Enlight Renewable Energy has a 1 year low of $14.09 and a 1 year high of $18.48. The company has a market cap of $1.97 billion, a P/E ratio of 47.25 and a beta of 1.38.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.17. The firm had revenue of $114.21 million during 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%. As a group, research analysts anticipate that Enlight Renewable Energy will post 0.41 EPS for the current year.

Institutional Trading of Enlight Renewable Energy

Large investors have recently modified their holdings of the business. Edmond DE Rothschild Holding S.A. raised its stake 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 purchasing an additional 625 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Enlight Renewable Energy during the 4th quarter worth $145,000. Jane Street Group LLC purchased a new position in Enlight Renewable Energy in the fourth quarter worth $196,000. Advisors Asset Management Inc. raised its position 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 valued at $241,000 after purchasing an additional 13,150 shares in the last quarter. Finally, Tidal Investments LLC lifted its stake 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 purchasing an additional 1,852 shares during the last quarter. Institutional investors own 38.89% of the company’s stock.

About Enlight Renewable Energy

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.