Short Interest in Enlight Renewable Energy Ltd (NASDAQ:ENLT) Grows By 11.0%

Enlight Renewable Energy Ltd (NASDAQ:ENLT) was the recipient of a large increase in short interest in November. As of November 15th, there was short interest totalling 113,400 shares, an increase of 11.0% from the October 31st total of 102,200 shares. Based on an average trading volume of 8,200 shares, the short-interest ratio is currently 13.8 days. Currently, 0.1% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Enlight Renewable Energy by 4.2% in 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 in the last quarter. Vanguard Group Inc. boosted its stake in Enlight Renewable Energy by 0.7% in the first quarter. Vanguard Group Inc. now owns 4,001,391 shares of the company’s stock valued at $67,704,000 after acquiring an additional 29,249 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Enlight Renewable Energy by 3.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,619,180 shares of the company’s stock worth $42,326,000 after purchasing an additional 76,873 shares during the last quarter. Y.D. More Investments Ltd increased its position in shares of 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 worth $31,166,000 after purchasing an additional 1,955,345 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Enlight Renewable Energy by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 103,590 shares of the company’s stock valued at $1,751,000 after purchasing an additional 907 shares during the last quarter. Hedge funds and other institutional investors own 38.89% of the company’s stock.

Enlight Renewable Energy Stock Up 1.2 %

Enlight Renewable Energy stock traded up $0.20 during trading on Tuesday, reaching $16.34. The stock had a trading volume of 9,127 shares, compared to its average volume of 25,770. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.64. Enlight Renewable Energy has a 52-week low of $14.09 and a 52-week high of $20.00. The stock has a market cap of $1.89 billion, a PE ratio of 37.02 and a beta of 1.69. The business has a 50 day moving average price of $15.97 and a 200 day moving average price of $16.21.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings data on Wednesday, November 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.09. The business had revenue of $109.50 million during the quarter, compared to analysts’ expectations of $83.09 million. Enlight Renewable Energy had a net margin of 13.58% and a return on equity of 3.34%. The company’s revenue for the quarter was up 87.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.13 EPS. On average, analysts predict that Enlight Renewable Energy will post 0.15 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Roth Mkm reissued a “buy” rating and issued a $20.00 price objective on shares of Enlight Renewable Energy in a research note on Wednesday, August 14th. Barclays raised their price target on shares of Enlight Renewable Energy from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, November 15th.

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.