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

Enlight Renewable Energy Ltd (NASDAQ:ENLT - Get Free Report) was the recipient of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 122,900 shares, a growth of 47.4% from the February 13th total of 83,400 shares. Based on an average daily trading volume, of 18,200 shares, the short-interest ratio is currently 6.8 days. Currently, 0.1% of the company's stock are sold short.

Hedge Funds Weigh In On Enlight Renewable Energy

A number of institutional investors have recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd increased its holdings in Enlight Renewable Energy by 4.2% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,771,161 shares of the company's stock worth $147,885,000 after buying an additional 353,750 shares during the last quarter. Meitav Investment House Ltd. increased its holdings in Enlight Renewable Energy by 4.0% during the fourth quarter. Meitav Investment House Ltd. now owns 5,901,179 shares of the company's stock worth $101,910,000 after buying an additional 229,255 shares during the last quarter. Vanguard Group Inc. increased its holdings in Enlight Renewable Energy by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 4,158,533 shares of the company's stock worth $71,926,000 after buying an additional 35,555 shares during the last quarter. Y.D. More Investments Ltd increased its holdings in Enlight Renewable Energy by 18.6% during the fourth quarter. Y.D. More Investments Ltd now owns 3,068,179 shares of the company's stock worth $53,043,000 after buying an additional 482,129 shares during the last quarter. Finally, Phoenix Financial Ltd. increased its holdings in Enlight Renewable Energy by 42.2% during the fourth quarter. Phoenix Financial Ltd. now owns 1,254,495 shares of the company's stock worth $21,634,000 after buying an additional 372,403 shares during the last quarter. 38.89% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several brokerages have commented on ENLT. JPMorgan Chase & Co. raised their target price on shares of Enlight Renewable Energy from $17.00 to $18.00 and gave the stock a "neutral" rating in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft began coverage on shares of Enlight Renewable Energy in a report on Thursday, March 6th. They set a "buy" rating and a $22.00 target price on the stock. Finally, Wolfe Research downgraded shares of Enlight Renewable Energy from an "outperform" rating to a "peer perform" rating in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.25.

Enlight Renewable Energy Stock Down 1.1 %

Shares of ENLT stock traded down $0.19 during trading on Monday, reaching $17.21. The company's stock had a trading volume of 8,713 shares, compared to its average volume of 14,359. The business has a fifty day moving average price of $16.82 and a 200-day moving average price of $16.38. The company has a quick ratio of 0.53, a current ratio of 1.22 and a debt-to-equity ratio of 1.98. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 47.81 and a beta of 1.38. Enlight Renewable Energy has a one year low of $14.09 and a one year high of $18.48.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.17. The business had revenue of $114.21 million for the quarter, compared to analyst estimates of $289.04 million. Enlight Renewable Energy had a net margin of 11.09% and a return on equity of 3.03%. Analysts anticipate that Enlight Renewable Energy will post 0.41 earnings per share for the current year.

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.