Enlight Renewable Energy Ltd (NASDAQ:ENLT) Short Interest Down 11.3% in December

Enlight Renewable Energy Ltd (NASDAQ:ENLT) saw a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 92,100 shares, a drop of 11.3% from the November 30th total of 103,800 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average trading volume of 15,300 shares, the short-interest ratio is presently 6.0 days.

Enlight Renewable Energy Price Performance

Shares of NASDAQ:ENLT traded up $0.10 during trading on Wednesday, hitting $17.25. 6,194 shares of the company’s stock were exchanged, compared to its average volume of 25,722. The business’s 50-day simple moving average is $16.19 and its 200 day simple moving average is $16.07. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 39.21 and a beta of 1.70. Enlight Renewable Energy has a 52-week low of $14.09 and a 52-week high of $19.57. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.53 and a quick ratio of 0.53.

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, beating the consensus estimate of $0.03 by $0.09. Enlight Renewable Energy had a net margin of 13.58% and a return on equity of 3.34%. The firm had revenue of $109.50 million for the quarter, compared to analysts’ expectations of $83.09 million. During the same quarter last year, the business posted $0.13 earnings per share. The company’s revenue for the quarter was up 87.8% compared to the same quarter last year. As a group, equities analysts predict that Enlight Renewable Energy will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new position in shares of Enlight Renewable Energy during the 3rd quarter valued at approximately $655,000. Clal Insurance Enterprises Holdings Ltd lifted its position 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 valued at $147,885,000 after purchasing an additional 353,750 shares during the last quarter. Y.D. More Investments Ltd lifted 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 purchasing an additional 1,955,345 shares during the last quarter. Susquehanna International Group Ltd. purchased a new position in shares of Enlight Renewable Energy in the 2nd quarter worth $253,000. Finally, Tidal Investments LLC increased its holdings in shares of Enlight Renewable Energy by 11.3% in the 3rd quarter. Tidal Investments LLC now owns 18,241 shares of the company’s stock worth $308,000 after buying an additional 1,852 shares during the last quarter. Institutional investors own 38.89% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Barclays upped their price target on shares of Enlight Renewable Energy from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th.

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.