Enlight Renewable Energy Ltd (NASDAQ:ENLT) Sees Large Increase in Short Interest

Enlight Renewable Energy Ltd (NASDAQ:ENLT) saw a large 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. Based on an average trading volume of 20,500 shares, the short-interest ratio is presently 4.1 days. Approximately 0.1% of the company’s shares are sold short.

Analysts Set New Price Targets

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

Enlight Renewable Energy Trading Down 2.4 %

Shares of ENLT traded down $0.42 during trading hours on Friday, reaching $16.89. The stock had a trading volume of 7,882 shares, compared to its average volume of 16,520. The firm has a 50-day moving average of $16.90 and a 200 day moving average of $16.33. 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 cap of $1.95 billion, a P/E ratio of 46.92 and a beta of 1.51. Enlight Renewable Energy has a 52 week low of $14.09 and a 52 week high of $18.48.

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

Hedge Funds Weigh In On Enlight Renewable Energy

Several hedge funds have recently modified their holdings of ENLT. Y.D. More Investments Ltd raised its holdings in 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 worth $53,043,000 after acquiring an additional 482,129 shares in the last quarter. Phoenix Financial Ltd. increased its position in shares of Enlight Renewable Energy by 42.2% during the 4th quarter. Phoenix Financial Ltd. now owns 1,254,495 shares of the company’s stock worth $21,634,000 after purchasing an additional 372,403 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Enlight Renewable Energy by 4.2% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,771,161 shares of the company’s stock worth $147,885,000 after purchasing an additional 353,750 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Enlight Renewable Energy in the 3rd quarter valued at approximately $4,901,000. Finally, Meitav Investment House Ltd. grew 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 valued at $101,910,000 after buying an additional 229,255 shares in 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.