Short Interest in Enel SpA (OTCMKTS:ENLAY) Expands By 62.8%

Key Points

• Enel’s short interest jumped 62.8% to 390,284 shares as of July 15, up from 239,799 shares at the end of June. Despite the increase, short interest represents 0.0% of shares outstanding, with a days-to-cover ratio of 0.6.
• Enel shares recently traded at $11.26, near their 12-month high of $12.13 and above the 12-month low of $8.70. The company has a market capitalization of approximately $114.43 billion and a P/E ratio of 14.81.
• The utility provider missed quarterly expectations, reporting $0.21 EPS versus a $0.22 estimate and revenue of $23.95 billion versus the $26.61 billion forecast. Analysts’ consensus rating is “Reduce,” with one Buy, five Hold, and two Sell ratings.

Enel SpA (OTCMKTS:ENLAY - Get Free Report) was the recipient of a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 390,284 shares, an increase of 62.8% from the June 30th total of 239,799 shares. Based on an average trading volume of 619,667 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.0% of the shares of the stock are sold short.

Enel Price Performance

OTCMKTS ENLAY traded down $0.17 during trading on Friday, hitting $11.26. 119,924 shares of the stock traded hands, compared to its average volume of 449,585. The company has a quick ratio of 0.72, a current ratio of 0.80 and a debt-to-equity ratio of 1.16. Enel has a 12-month low of $8.70 and a 12-month high of $12.13. The firm has a 50-day simple moving average of $11.33 and a 200-day simple moving average of $11.21. The company has a market capitalization of $114.43 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 3.50 and a beta of 0.81.

Enel (OTCMKTS:ENLAY - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). The firm had revenue of $23.95 billion during the quarter, compared to analyst estimates of $26.61 billion. As a group, analysts predict that Enel will post 0.85 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Morgan Stanley reiterated an "underweight" rating on shares of Enel in a report on Wednesday, July 1st. Citigroup reiterated a "neutral" rating on shares of Enel in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Reduce".

About Enel

Enel S.p.A. is a multinational energy company headquartered in Rome, Italy. It specializes in the generation, distribution and sale of electricity and gas, serving residential, commercial and industrial customers. Enel's business activities encompass both conventional thermal power plants and a growing portfolio of renewable energy assets, including wind, solar, hydroelectric and geothermal installations. The company also provides advanced energy management services, electric vehicle charging infrastructure and demand response solutions.

Founded in 1962 as a state-owned electricity provider, Enel underwent partial privatization starting in the late 1990s and was listed on the Milan Stock Exchange in 1999.

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