Enlight Renewable Energy Ltd (NASDAQ:ENLT) Sees Significant Growth in Short Interest

Enlight Renewable Energy Ltd (NASDAQ:ENLT) was the recipient of a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 83,400 shares, a growth of 104.9% from the January 31st total of 40,700 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average trading volume of 20,500 shares, the days-to-cover ratio is presently 4.1 days.

Enlight Renewable Energy Price Performance

NASDAQ:ENLT traded down $0.42 on Friday, reaching $16.89. The stock had a trading volume of 7,882 shares, compared to its average volume of 16,520. The company has a quick ratio of 0.53, a current ratio of 1.22 and a debt-to-equity ratio of 1.98. The company has a market capitalization of $1.95 billion, a P/E ratio of 46.92 and a beta of 1.51. Enlight Renewable Energy has a 1-year low of $14.09 and a 1-year high of $18.48. The stock has a fifty day moving average price of $16.90 and a 200-day moving average price of $16.33.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.17. Enlight Renewable Energy had a return on equity of 3.03% and a net margin of 11.09%. The business had revenue of $114.21 million for the quarter, compared to the consensus estimate of $289.04 million. Research analysts forecast that Enlight Renewable Energy will post 0.41 EPS for the current year.

Institutional Trading of Enlight Renewable Energy

Several large investors have recently made changes to their positions in ENLT. Clal Insurance Enterprises Holdings Ltd raised its holdings 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 buying an additional 353,750 shares during the last quarter. Meitav Investment House Ltd. raised its stake in shares of Enlight Renewable Energy by 4.0% in the fourth 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 during 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 worth $71,926,000 after purchasing an additional 35,555 shares in the last quarter. Y.D. More Investments Ltd grew its stake in shares of 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 valued at $53,043,000 after purchasing an additional 482,129 shares during the last quarter. Finally, Phoenix Financial Ltd. increased its holdings in shares of Enlight Renewable Energy by 42.2% in the fourth quarter. Phoenix Financial Ltd. now owns 1,254,495 shares of the company’s stock valued at $21,634,000 after purchasing an additional 372,403 shares in the last quarter. Institutional investors own 38.89% of the company’s stock.

Analysts Set New Price Targets

ENLT has been the subject of several analyst reports. 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. Barclays upped their price objective on shares of Enlight Renewable Energy from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Wolfe Research downgraded shares of Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 20th.

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.