Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Short Interest Update

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 288,764 shares, an increase of 28.2% from the February 26th total of 225,207 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 216,668 shares, the short-interest ratio is presently 1.3 days.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its stake in shares of Enlight Renewable Energy by 256.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock valued at $28,000 after acquiring an additional 881 shares during the period. V Square Quantitative Management LLC bought a new stake in Enlight Renewable Energy during the 4th quarter worth approximately $56,000. Savant Capital LLC purchased a new position in Enlight Renewable Energy during the fourth quarter valued at approximately $241,000. Jane Street Group LLC lifted its holdings in Enlight Renewable Energy by 6.0% during the second quarter. Jane Street Group LLC now owns 11,366 shares of the company’s stock valued at $258,000 after purchasing an additional 641 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new position in shares of Enlight Renewable Energy in the fourth quarter worth approximately $277,000. Institutional investors own 38.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ENLT shares. Mizuho set a $37.00 target price on shares of Enlight Renewable Energy in a research report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $38.00 price target on shares of Enlight Renewable Energy in a report on Wednesday, January 7th. UBS Group lifted their price objective on Enlight Renewable Energy to $65.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Enlight Renewable Energy in a report on Monday, December 29th. Finally, Barclays reissued an “overweight” rating on shares of Enlight Renewable Energy in a research report on Wednesday, February 18th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Enlight Renewable Energy presently has an average rating of “Hold” and an average target price of $43.50.

Enlight Renewable Energy Stock Performance

Shares of ENLT stock opened at $65.99 on Monday. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.67 and a quick ratio of 0.88. The company has a market cap of $7.82 billion, a price-to-earnings ratio of 64.70, a PEG ratio of 8.88 and a beta of 1.29. Enlight Renewable Energy has a 1 year low of $14.01 and a 1 year high of $81.28. The firm has a fifty day moving average price of $66.57 and a 200-day moving average price of $47.98.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its earnings results on Wednesday, February 18th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.17. The company had revenue of $124.19 million for the quarter, compared to analysts’ expectations of $146.12 million. Enlight Renewable Energy had a return on equity of 7.35% and a net margin of 22.69%. As a group, equities analysts predict that Enlight Renewable Energy will post 0.41 earnings per share for the current year.

Enlight Renewable Energy Company Profile

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.