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

Enlight Renewable Energy Ltd (NASDAQ:ENLT) was the target of a large increase in short interest in February. As of February 15th, there was short interest totalling 83,400 shares, an increase of 104.9% from the January 31st total of 40,700 shares. Based on an average daily volume of 20,500 shares, the days-to-cover ratio is presently 4.1 days. Approximately 0.1% of the shares of the stock are sold short.

Enlight Renewable Energy Price Performance

Shares of Enlight Renewable Energy stock traded down $0.42 during trading hours on Friday, reaching $16.89. The company’s stock had a trading volume of 7,882 shares, compared to its average volume of 16,520. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.22 and a quick ratio of 0.53. Enlight Renewable Energy has a one year low of $14.09 and a one year high of $18.48. The firm has a 50 day moving average price of $16.90 and a 200-day moving average price of $16.33. The stock has a market cap of $1.95 billion, a P/E ratio of 46.92 and a beta of 1.51.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on ENLT. JPMorgan Chase & Co. raised their price objective on Enlight Renewable Energy from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Wolfe Research lowered Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 20th. Finally, Barclays upped their price objective on Enlight Renewable Energy from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, November 15th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Enlight Renewable Energy by 51.0% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 1,850 shares of the company’s stock worth $32,000 after acquiring an additional 625 shares during the last quarter. Geode Capital Management LLC lifted its stake in Enlight Renewable Energy by 0.9% in the third quarter. Geode Capital Management LLC now owns 103,590 shares of the company’s stock worth $1,751,000 after purchasing an additional 907 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Enlight Renewable Energy by 2.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 39,872 shares of the company’s stock valued at $690,000 after buying an additional 947 shares during the period. Tidal Investments LLC boosted its position in shares of Enlight Renewable Energy by 11.3% during the third quarter. Tidal Investments LLC now owns 18,241 shares of the company’s stock valued at $308,000 after buying an additional 1,852 shares during the period. Finally, Deutsche Bank AG grew its stake in shares of Enlight Renewable Energy by 0.6% during the fourth quarter. Deutsche Bank AG now owns 425,693 shares of the company’s stock valued at $7,343,000 after buying an additional 2,748 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.