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

Key Points

• Short interest jumped 44.3% in April to 264,677 shares (about 0.2% of shares), implying a short‑interest ratio of roughly 2.0 days based on average daily volume.
• ENLT trades near its 12‑month high ($89.72) with a market cap of $10.63B and a high valuation (P/E 87.92); the company reported EPS of $0.10 that beat estimates while quarterly revenue of $124.19M missed consensus.
• Analysts are mixed—three Buys, two Holds and two Sells—resulting in a MarketBeat consensus of "Hold" and an average target of $51.67, while institutional investors own about 38.9% and several large funds recently increased positions.

Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Get Free Report) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totaling 264,677 shares, an increase of 44.3% from the March 31st total of 183,451 shares. Based on an average trading volume of 133,046 shares, the short-interest ratio is presently 2.0 days. Approximately 0.2% of the shares of the company are short sold.

Enlight Renewable Energy Price Performance

ENLT opened at $89.63 on Tuesday. The firm has a market capitalization of $10.63 billion, a P/E ratio of 87.92, a PEG ratio of 11.02 and a beta of 1.21. The stock has a fifty day moving average of $74.20 and a 200-day moving average of $54.89. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.03. Enlight Renewable Energy has a 12-month low of $16.10 and a 12-month high of $89.72.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last issued its quarterly earnings results on Saturday, February 14th. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.17. The business 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 forecast that Enlight Renewable Energy will post 0.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ENLT has been the subject of a number of research analyst reports. UBS Group upped their price target on shares of Enlight Renewable Energy to $65.00 and gave the stock a "buy" rating in a research note on Friday, January 16th. Barclays reissued an "overweight" rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. Mizuho set a $37.00 target price on Enlight Renewable Energy in a report on Monday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft set a $65.00 price target on Enlight Renewable Energy and gave the company a "hold" rating in a research report on Thursday, April 9th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Enlight Renewable Energy presently has a consensus rating of "Hold" and an average target price of $51.67.

Hedge Funds Weigh In On Enlight Renewable Energy

A number of large investors have recently made changes to their positions in ENLT. Y.D. More Investments Ltd boosted its holdings in shares of Enlight Renewable Energy by 50.5% during the third quarter. Y.D. More Investments Ltd now owns 5,584,817 shares of the company's stock worth $172,143,000 after purchasing an additional 1,875,084 shares during the period. Clal Insurance Enterprises Holdings Ltd lifted its position in Enlight Renewable Energy by 19.9% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 9,890,141 shares of the company's stock worth $448,589,000 after buying an additional 1,643,110 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Enlight Renewable Energy by 11.3% during the 4th quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company's stock valued at $225,058,000 after acquiring an additional 503,060 shares in the last quarter. Norges Bank purchased a new stake in shares of Enlight Renewable Energy during the 4th quarter worth about $17,875,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Enlight Renewable Energy by 121.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 505,792 shares of the company's stock valued at $33,527,000 after acquiring an additional 277,179 shares during the last quarter. Institutional investors and hedge funds own 38.89% of the company's stock.

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.

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