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

Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Get Free Report) was the target of a significant growth in short interest during the month of 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. Approximately 0.1% of the company's shares are sold short. Based on an average daily trading volume, of 17,900 shares, the short-interest ratio is currently 6.4 days.

Enlight Renewable Energy Price Performance

NASDAQ ENLT traded up $0.51 on Friday, hitting $21.01. 23,317 shares of the company were exchanged, compared to its average volume of 17,385. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.95. The stock has a fifty day moving average of $18.02 and a 200-day moving average of $17.05. Enlight Renewable Energy has a 12 month low of $14.01 and a 12 month high of $21.13.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.24. Enlight Renewable Energy had a net margin of 27.82% and a return on equity of 8.17%. The company had revenue of $129.87 million for the quarter, compared to analysts' expectations of $396.61 million. As a group, research analysts expect 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 added to or reduced their stakes in ENLT. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Enlight Renewable Energy by 51.0% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 1,850 shares of the company's stock worth $32,000 after purchasing an additional 625 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Enlight Renewable Energy during the fourth quarter worth $145,000. Jane Street Group LLC bought a new position in shares of Enlight Renewable Energy in the fourth quarter valued at $196,000. TD Asset Management Inc acquired a new position in shares of Enlight Renewable Energy during the first quarter valued at about $203,000. Finally, Advisors Asset Management Inc. increased its position in shares of Enlight Renewable Energy by 70.7% during the first quarter. Advisors Asset Management Inc. now owns 27,565 shares of the company's stock worth $445,000 after acquiring an additional 11,414 shares in the last quarter. Institutional investors and hedge funds own 38.89% of the company's stock.

Wall Street Analyst Weigh In

ENLT has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Enlight Renewable Energy in a research report on Thursday, March 6th. They set a "buy" rating and a $22.00 price target on the stock. Wolfe Research lowered Enlight Renewable Energy from an "outperform" rating to a "peer perform" rating in a research 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's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $20.25.

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.