Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Sees Significant Increase in Short Interest
by Michael Walen · The Markets DailyEnlight Renewable Energy Ltd. (NASDAQ:ENLT – Get Free Report) saw a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 288,764 shares, an increase of 28.2% from the February 26th total of 225,207 shares. Based on an average daily volume of 216,668 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.2% of the company’s shares are sold short.
Enlight Renewable Energy Trading Up 6.2%
Shares of NASDAQ ENLT traded up $3.98 during trading on Tuesday, hitting $68.25. 125,990 shares of the company traded hands, compared to its average volume of 151,913. The firm has a market capitalization of $8.09 billion, a P/E ratio of 66.91, a P/E/G ratio of 8.88 and a beta of 1.28. The company has a quick ratio of 0.88, a current ratio of 0.67 and a debt-to-equity ratio of 2.03. The company has a 50-day moving average price of $66.84 and a 200-day moving average price of $48.22. Enlight Renewable Energy has a 1 year low of $14.01 and a 1 year high of $81.28.
Enlight Renewable Energy (NASDAQ:ENLT – Get Free Report) last issued its earnings results on Saturday, February 14th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.17. Enlight Renewable Energy had a return on equity of 7.35% and a net margin of 22.69%.The business had revenue of $124.19 million for the quarter, compared to analyst estimates of $146.12 million. On average, equities analysts predict that Enlight Renewable Energy will post 0.41 EPS for the current year.
Analyst Ratings Changes
A number of brokerages have recently commented on ENLT. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $38.00 price objective on shares of Enlight Renewable Energy in a research report on Wednesday, January 7th. Mizuho set a $37.00 price target on Enlight Renewable Energy in a research note on Monday, February 23rd. UBS Group lifted their price target on Enlight Renewable Energy to $65.00 and gave the company a “buy” rating in a report on Friday, January 16th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $35.00 price objective on shares of Enlight Renewable Energy in a research note on Monday, December 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Enlight Renewable Energy in a report on Friday. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Enlight Renewable Energy currently has an average rating of “Hold” and a consensus target price of $43.50.
Read Our Latest Stock Report on ENLT
Hedge Funds Weigh In On Enlight Renewable Energy
Several hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets grew its holdings in shares of Enlight Renewable Energy by 256.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock worth $28,000 after purchasing an additional 881 shares during the period. V Square Quantitative Management LLC purchased a new position in Enlight Renewable Energy in the fourth quarter valued at approximately $56,000. Savant Capital LLC acquired a new position in Enlight Renewable Energy during the fourth quarter valued at approximately $241,000. Jane Street Group LLC lifted its position in Enlight Renewable Energy by 6.0% during the second quarter. Jane Street Group LLC now owns 11,366 shares of the company’s stock valued at $258,000 after buying an additional 641 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in Enlight Renewable Energy during the fourth quarter worth approximately $277,000. 38.89% of the stock is owned by institutional investors and hedge funds.
Enlight Renewable Energy Company Profile
Enlight Renewable Energy Ltd. (NASDAQ:ENLT) is an independent power producer specializing in the development, financing, construction and operation of renewable energy assets. The company’s portfolio encompasses utility-scale solar photovoltaic (PV) farms, onshore wind farms and energy storage facilities. By providing end-to-end project management—from site identification and feasibility studies through engineering procurement and construction (EPC) to long-term operations and maintenance—Enlight seeks to deliver reliable clean power under long-term power purchase agreements (PPAs).
Founded in 2008 and headquartered in Tel Aviv, Enlight has pursued an international growth strategy with operational and development projects in Israel and Western Europe.