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

Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report) was the recipient of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 103,800 shares, a decrease of 8.5% from the November 15th total of 113,400 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 10,800 shares, the days-to-cover ratio is currently 9.6 days.

Analyst Ratings Changes

Separately, Barclays increased their price target on Enlight Renewable Energy from $20.00 to $21.00 and gave the company an "overweight" rating in a research note on Friday, November 15th.

Enlight Renewable Energy Price Performance

Shares of NASDAQ ENLT traded up $0.49 during midday trading on Monday, reaching $16.44. 104,748 shares of the company traded hands, compared to its average volume of 25,501. The stock's 50-day simple moving average is $15.99 and its 200-day simple moving average is $16.12. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.53 and a current ratio of 0.53. Enlight Renewable Energy has a 12 month low of $14.09 and a 12 month high of $20.00. The firm has a market cap of $1.90 billion, a PE ratio of 36.25 and a beta of 1.69.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last announced its earnings results on Wednesday, November 13th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.03 by $0.09. Enlight Renewable Energy had a return on equity of 3.34% and a net margin of 13.58%. The company had revenue of $109.50 million for the quarter, compared to analysts' expectations of $83.09 million. During the same quarter in the prior year, the business earned $0.13 earnings per share. The business's revenue for the quarter was up 87.8% on a year-over-year basis. As a group, equities analysts anticipate that Enlight Renewable Energy will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd raised its position in Enlight Renewable Energy by 4.2% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,771,161 shares of the company's stock valued at $147,885,000 after purchasing an additional 353,750 shares during the last quarter. Y.D. More Investments Ltd boosted its position in Enlight Renewable Energy by 94,919.7% during the second quarter. Y.D. More Investments Ltd now owns 1,957,405 shares of the company's stock valued at $31,166,000 after acquiring an additional 1,955,345 shares during the last quarter. Geode Capital Management LLC grew its holdings in Enlight Renewable Energy by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 103,590 shares of the company's stock worth $1,751,000 after acquiring an additional 907 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Enlight Renewable Energy in the 3rd quarter valued at about $655,000. Finally, Barclays PLC grew its stake in Enlight Renewable Energy by 4,278.2% during the third quarter. Barclays PLC now owns 25,525 shares of the company's stock worth $432,000 after purchasing an additional 24,942 shares during the period. 38.89% of the stock is currently owned by institutional investors and hedge funds.

Enlight Renewable Energy Company Profile

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.