Enel SpA (OTCMKTS:ENLAY) Stock Short Interest Jumps 590.4%

Key Points

• Enel’s short interest surged 590.4% to 422,789 shares as of October 15, up from 61,234 shares at the end of September. Despite the increase, short interest represents approximately 0.0% of shares outstanding, with a 0.3-day days-to-cover ratio.
• Analyst sentiment remains cautious: Morgan Stanley reiterated an “underweight” rating, while the broader analyst consensus is “Reduce,” comprising one Buy, three Holds, and two Sells.
• Enel shares opened at $10.29, near their 50-day moving average and below the 200-day average. The company recently exceeded quarterly earnings and revenue expectations, reporting $0.21 EPS versus the $0.20 consensus estimate.

Enel SpA (OTCMKTS:ENLAY - Get Free Report) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 422,789 shares, an increase of 590.4% from the September 30th total of 61,234 shares. Based on an average daily volume of 1,352,834 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.0% of the company's shares are sold short.

Wall Street Analyst Weigh In

Separately, Morgan Stanley reiterated an "underweight" rating on shares of Enel in a research report on Wednesday, July 1st. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Reduce".

Enel Stock Up 0.1%

Shares of OTCMKTS:ENLAY opened at $10.29 on Tuesday. The company has a market capitalization of $102.26 billion, a price-to-earnings ratio of 13.36, a P/E/G ratio of 1.76 and a beta of 0.77. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.71 and a quick ratio of 0.63. The business's 50-day moving average is $10.33 and its 200-day moving average is $10.99. Enel has a 1 year low of $9.62 and a 1 year high of $12.13.

Enel (OTCMKTS:ENLAY - Get Free Report) last announced its earnings results on Thursday, July 30th. The utilities provider reported $0.21 EPS for the quarter, beating the consensus estimate of $0.20 by $0.01. The business had revenue of $23.96 billion for the quarter, compared to the consensus estimate of $23.93 billion. Equities research analysts predict that Enel will post 0.84 earnings per share for the current year.

Enel Company Profile

Enel S.p.A. is an Italian multinational energy company headquartered in Rome. Established in 1962, the group operates across the electricity and energy value chain, including power generation, electricity distribution, energy sales and related customer services.

Enel has a significant focus on renewable energy through technologies such as solar, wind, hydropower and geothermal generation. The company also develops energy-storage projects, electric-mobility infrastructure and digital energy solutions, while continuing to manage conventional generation assets in selected markets.

Through its distribution networks and retail businesses, Enel serves residential, commercial and industrial customers in several countries.

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