Short Interest in Enlight Renewable Energy Ltd (NASDAQ:ENLT) Decreases By 7.5%

Enlight Renewable Energy Ltd (NASDAQ:ENLTGet Free Report) was the target of a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 479,000 shares, a drop of 7.5% from the April 30th total of 518,100 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average trading volume of 30,900 shares, the days-to-cover ratio is currently 15.5 days.

Analysts Set New Price Targets

ENLT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $16.00 price objective (down previously from $19.00) on shares of Enlight Renewable Energy in a research note on Monday, April 8th. Barclays lowered their price objective on shares of Enlight Renewable Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. Finally, Roth Mkm reiterated a “buy” rating and set a $20.00 price objective (up previously from $19.00) on shares of Enlight Renewable Energy in a research note on Thursday, May 9th.

Get Our Latest Stock Analysis on Enlight Renewable Energy

Enlight Renewable Energy Trading Up 1.3 %

Enlight Renewable Energy stock opened at $17.80 on Tuesday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 34.90 and a beta of 1.74. Enlight Renewable Energy has a 1 year low of $12.11 and a 1 year high of $20.44. The firm’s 50 day moving average price is $17.06 and its two-hundred day moving average price is $17.44.

Enlight Renewable Energy (NASDAQ:ENLTGet Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.05. The firm had revenue of $90.40 million for the quarter, compared to analyst estimates of $79.31 million. Enlight Renewable Energy had a net margin of 23.15% and a return on equity of 4.47%. The firm’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.20 earnings per share. On average, research analysts predict that Enlight Renewable Energy will post 0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ENLT. Vanguard Personalized Indexing Management LLC acquired a new position in Enlight Renewable Energy in the 4th quarter worth approximately $217,000. Tidal Investments LLC acquired a new position in Enlight Renewable Energy in the 1st quarter worth approximately $254,000. Capstone Investment Advisors LLC boosted its stake in Enlight Renewable Energy by 9.0% in the 1st quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the company’s stock worth $369,000 after purchasing an additional 1,800 shares during the period. Quadrature Capital Ltd acquired a new position in Enlight Renewable Energy in the 1st quarter worth approximately $377,000. Finally, Swiss National Bank boosted its stake in Enlight Renewable Energy by 1.3% in the 1st quarter. Swiss National Bank now owns 236,337 shares of the company’s stock worth $3,954,000 after purchasing an additional 3,045 shares during the period. Institutional investors and hedge funds own 38.89% of the company’s stock.

About Enlight Renewable Energy

(Get Free Report)

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.

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