Enlight Renewable Energy Ltd (NASDAQ:ENLT) Sees Large Growth 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 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. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 18,200 shares, the days-to-cover ratio is currently 6.8 days.

Hedge Funds Weigh In On Enlight Renewable Energy

Several large investors have recently bought and sold shares of ENLT. Y.D. More Investments Ltd increased its stake in Enlight Renewable Energy by 18.6% during the 4th quarter. Y.D. More Investments Ltd now owns 3,068,179 shares of the company's stock valued at $53,043,000 after buying an additional 482,129 shares during the period. Phoenix Financial Ltd. increased its stake in Enlight Renewable Energy by 42.2% during the 4th quarter. Phoenix Financial Ltd. now owns 1,254,495 shares of the company's stock valued at $21,634,000 after buying an additional 372,403 shares during the period. Clal Insurance Enterprises Holdings Ltd increased its stake in Enlight Renewable Energy by 4.2% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,771,161 shares of the company's stock valued at $147,885,000 after buying an additional 353,750 shares during the period. JPMorgan Chase & Co. acquired a new position in Enlight Renewable Energy during the 3rd quarter valued at about $4,901,000. Finally, Meitav Investment House Ltd. grew its stake in shares of Enlight Renewable Energy by 4.0% in the 4th quarter. Meitav Investment House Ltd. now owns 5,901,179 shares of the company's stock worth $101,910,000 after purchasing an additional 229,255 shares during the last quarter. Institutional investors and hedge funds own 38.89% of the company's stock.

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Enlight Renewable Energy Stock Performance

Shares of NASDAQ:ENLT traded down $0.61 on Tuesday, hitting $17.08. The company's stock had a trading volume of 1,267 shares, compared to its average volume of 14,160. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 47.44 and a beta of 1.38. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.53 and a current ratio of 1.22. Enlight Renewable Energy has a 12 month low of $14.09 and a 12 month high of $18.48. The stock's 50-day moving average is $16.83 and its two-hundred day moving average is $16.39.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.17. The firm had revenue of $114.21 million during 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%. On average, equities research analysts forecast that Enlight Renewable Energy will post 0.41 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ENLT shares. JPMorgan Chase & Co. boosted their price target on Enlight Renewable Energy from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft initiated coverage on Enlight Renewable Energy in a research report on Thursday, March 6th. They set a "buy" rating and a $22.00 price objective for the company. Finally, Wolfe Research lowered Enlight Renewable Energy from an "outperform" rating to a "peer perform" rating in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $20.25.

About Enlight Renewable Energy

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.