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

Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report) was the target of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 625,600 shares, a growth of 107.4% from the March 15th total of 301,600 shares. Currently, 0.6% of the company's shares are sold short. Based on an average daily volume of 46,600 shares, the short-interest ratio is currently 13.4 days.

Enlight Renewable Energy Trading Up 0.9 %

ENLT stock traded up $0.14 during midday trading on Thursday, hitting $16.46. 10,140 shares of the company's stock were exchanged, compared to its average volume of 48,698. The stock's fifty day moving average price is $17.09 and its 200-day moving average price is $16.56. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market cap of $1.90 billion, a PE ratio of 28.88 and a beta of 1.84. Enlight Renewable Energy has a one year low of $12.11 and a one year high of $20.44.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last posted its earnings results on Monday, February 26th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.05). The business had revenue of $73.83 million for the quarter, compared to the consensus estimate of $85.36 million. Enlight Renewable Energy had a return on equity of 5.05% and a net margin of 27.74%. Research analysts predict that Enlight Renewable Energy will post 0.45 earnings per share for the current fiscal year.

Institutional Trading of Enlight Renewable Energy

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Enlight Renewable Energy by 2.1% in the third quarter. Vanguard Group Inc. now owns 3,889,496 shares of the company's stock valued at $61,026,000 after purchasing an additional 79,618 shares in the last quarter. Yelin Lapidot Holdings Management Ltd. bought a new position in Enlight Renewable Energy during the 3rd quarter worth $3,120,000. Clal Insurance Enterprises Holdings Ltd increased its position in Enlight Renewable Energy by 7.5% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 6,830,384 shares of the company's stock worth $107,302,000 after buying an additional 477,897 shares during the period. Assenagon Asset Management S.A. increased its position in Enlight Renewable Energy by 40.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 410,362 shares of the company's stock worth $6,476,000 after buying an additional 117,525 shares during the period. Finally, Barclays PLC increased its position in Enlight Renewable Energy by 2,076,400.0% during the 2nd quarter. Barclays PLC now owns 20,765 shares of the company's stock worth $369,000 after buying an additional 20,764 shares during the period. 38.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ENLT has been the topic of several recent research reports. JPMorgan Chase & Co. restated a "neutral" rating and issued a $16.00 price target (down from $19.00) on shares of Enlight Renewable Energy in a research report on Monday. Barclays reduced their price target on Enlight Renewable Energy from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, Mizuho raised their price target on Enlight Renewable Energy from $17.00 to $19.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 3rd.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd operates as a renewable energy platform in Israel and internationally. The company initiates, plans, develops, constructs, and operates projects to produce electricity from renewable energy sources. It develops wind energy and solar energy projects, as well as energy storage projects.

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