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

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) was the target of a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 225,060 shares, a growth of 123.1% from the January 29th total of 100,874 shares. Based on an average daily trading volume, of 137,392 shares, the days-to-cover ratio is presently 1.6 days. Based on an average daily trading volume, of 137,392 shares, the days-to-cover ratio is presently 1.6 days.

Institutional Investors Weigh In On Enlight Renewable Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd boosted its position in shares of Enlight Renewable Energy by 19.9% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 9,890,141 shares of the company’s stock valued at $448,589,000 after acquiring an additional 1,643,110 shares during the period. Y.D. More Investments Ltd lifted its stake in Enlight Renewable Energy by 4.5% in the 4th quarter. Y.D. More Investments Ltd now owns 5,837,263 shares of the company’s stock worth $264,965,000 after purchasing an additional 252,446 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Enlight Renewable Energy by 11.3% in the 4th quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company’s stock valued at $225,058,000 after purchasing an additional 503,060 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Enlight Renewable Energy by 3.9% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,722,610 shares of the company’s stock valued at $84,837,000 after purchasing an additional 103,430 shares during the period. Finally, Legal & General Group Plc grew its position in shares of Enlight Renewable Energy by 2.8% during the 3rd quarter. Legal & General Group Plc now owns 1,920,888 shares of the company’s stock valued at $59,253,000 after purchasing an additional 53,103 shares in the last quarter. 38.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $38.00 price target on shares of Enlight Renewable Energy in a research report on Wednesday, January 7th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $35.00 price target on shares of Enlight Renewable Energy in a report on Monday, December 8th. UBS Group raised their price objective on shares of Enlight Renewable Energy to $65.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Monday, December 29th. Finally, Barclays restated an “overweight” rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Enlight Renewable Energy currently has a consensus rating of “Hold” and a consensus target price of $43.50.

Enlight Renewable Energy Stock Down 4.0%

ENLT opened at $67.24 on Friday. Enlight Renewable Energy has a 12 month low of $14.01 and a 12 month high of $81.28. The company has a quick ratio of 0.88, a current ratio of 0.67 and a debt-to-equity ratio of 2.03. The company has a 50 day moving average of $56.52 and a 200 day moving average of $41.46.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its earnings results on Tuesday, February 17th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.17. The firm had revenue of $124.19 million for the quarter, compared to the consensus estimate of $146.12 million. Enlight Renewable Energy had a return on equity of 7.35% and a net margin of 22.69%. Equities analysts expect that Enlight Renewable Energy will post 0.41 EPS for the current fiscal year.

About Enlight Renewable Energy

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) is an independent power producer specializing in the development, financing, construction and operation of renewable energy assets. The company’s portfolio encompasses utility-scale solar photovoltaic (PV) farms, onshore wind farms and energy storage facilities. By providing end-to-end project management—from site identification and feasibility studies through engineering procurement and construction (EPC) to long-term operations and maintenance—Enlight seeks to deliver reliable clean power under long-term power purchase agreements (PPAs).

Founded in 2008 and headquartered in Tel Aviv, Enlight has pursued an international growth strategy with operational and development projects in Israel and Western Europe.