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

Enlight Renewable Energy Ltd (NASDAQ:ENLT) was the target of a large growth in short interest in 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. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 18,200 shares, the days-to-cover ratio is presently 6.8 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ENLT. Advisors Asset Management Inc. raised its holdings in 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 buying an additional 13,150 shares during the period. Clal Insurance Enterprises Holdings Ltd grew its position in shares of Enlight Renewable Energy by 4.2% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,771,161 shares of the company’s stock worth $147,885,000 after buying an additional 353,750 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Enlight Renewable Energy during the third quarter worth approximately $655,000. Barclays PLC grew its position in shares of Enlight Renewable Energy by 4,278.2% during the third quarter. Barclays PLC now owns 25,525 shares of the company’s stock worth $432,000 after buying an additional 24,942 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings 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 period. Hedge funds and other institutional investors own 38.89% of the company’s stock.

Enlight Renewable Energy Trading Down 1.1 %

Shares of ENLT stock traded down $0.19 during trading hours on Friday, hitting $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 PE ratio of 47.25 and a beta of 1.38. Enlight Renewable Energy has a 1 year low of $14.09 and a 1 year high of $18.48. 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 firm has a fifty day moving average of $16.82 and a 200 day moving average of $16.38.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ENLT shares. JPMorgan Chase & Co. raised their price target on shares of Enlight Renewable Energy from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Wolfe Research cut shares of Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 20th. Finally, 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 on the stock. 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, the company currently has an average rating of “Moderate Buy” and an average price target of $20.25.

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.