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

Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report) was the target of a large growth in short interest in May. As of May 31st, there was short interest totalling 114,600 shares, a growth of 34.5% from the May 15th total of 85,200 shares. Based on an average trading volume of 17,900 shares, the short-interest ratio is presently 6.4 days. Approximately 0.1% of the company's shares are short sold.

Analysts Set New Price Targets

ENLT has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft assumed 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 for the company. Wolfe Research downgraded Enlight Renewable Energy from an "outperform" rating to a "peer perform" rating in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Enlight Renewable Energy has an average rating of "Moderate Buy" and an average price target of $20.25.

Enlight Renewable Energy Stock Down 1.2%

NASDAQ ENLT traded down $0.23 during trading on Tuesday, reaching $19.65. 31,186 shares of the company's stock traded hands, compared to its average volume of 17,748. Enlight Renewable Energy has a 12-month low of $14.01 and a 12-month high of $20.44. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.22 and a quick ratio of 0.53. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 54.78 and a beta of 1.41. The company's 50 day simple moving average is $17.58 and its two-hundred day simple moving average is $16.94.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.24. The company had revenue of $129.87 million during the quarter, compared to the consensus estimate of $396.61 million. Enlight Renewable Energy had a net margin of 11.09% and a return on equity of 3.03%. As a group, sell-side analysts forecast that Enlight Renewable Energy will post 0.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Enlight Renewable Energy

A number of hedge funds have recently made changes to their positions in the stock. Meitav Investment House Ltd. lifted its position in shares of Enlight Renewable Energy by 4.0% during 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Enlight Renewable Energy by 9.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 336,224 shares of the company's stock valued at $5,798,000 after acquiring an additional 28,792 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Enlight Renewable Energy by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 4,158,533 shares of the company's stock worth $71,926,000 after purchasing an additional 35,555 shares in the last quarter. Norges Bank purchased a new stake in shares of Enlight Renewable Energy during the 4th quarter valued at $3,631,000. Finally, USS Investment Management Ltd acquired a new stake in shares of Enlight Renewable Energy in the 4th quarter worth $985,000. 38.89% of the stock is currently owned by hedge funds and other institutional investors.

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.

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