Short Interest in Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Declines By 18.7%

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 76,362 shares, a drop of 18.7% from the December 15th total of 93,875 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 36,723 shares, the short-interest ratio is currently 2.1 days. Based on an average daily trading volume, of 36,723 shares, the short-interest ratio is currently 2.1 days. Currently, 0.1% of the company’s stock are short sold.

Enlight Renewable Energy Stock Up 5.2%

Shares of ENLT stock opened at $53.88 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.91. The business’s 50 day moving average is $43.23 and its two-hundred day moving average is $34.08. Enlight Renewable Energy has a twelve month low of $14.01 and a twelve month high of $54.43.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings results on Wednesday, November 12th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.07 by $0.09. Enlight Renewable Energy had a return on equity of 7.41% and a net margin of 22.60%.The business had revenue of $165.06 million during the quarter, compared to analysts’ expectations of $146.04 million. Sell-side analysts expect that Enlight Renewable Energy will post 0.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ENLT shares. JPMorgan Chase & Co. restated an “underweight” rating and issued a $35.00 price objective on shares of Enlight Renewable Energy in a research note on Monday, December 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Monday, December 29th. Roth Capital lifted their price target on Enlight Renewable Energy from $30.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Mizuho boosted their price objective on Enlight Renewable Energy from $24.00 to $27.00 and gave the company an “underperform” rating in a research note on Monday, November 17th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $38.00 target price on shares of Enlight Renewable Energy in a research report on Wednesday, January 7th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $41.83.

Institutional Trading of Enlight Renewable Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its holdings in Enlight Renewable Energy by 256.1% during the second quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock worth $28,000 after purchasing an additional 881 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Enlight Renewable Energy during the 2nd quarter worth approximately $106,000. Bank of Montreal Can increased its position in Enlight Renewable Energy by 6.4% during the 2nd quarter. Bank of Montreal Can now owns 11,021 shares of the company’s stock worth $251,000 after purchasing an additional 660 shares during the period. Jane Street Group LLC raised its stake in shares of Enlight Renewable Energy by 6.0% during the 2nd quarter. Jane Street Group LLC now owns 11,366 shares of the company’s stock worth $258,000 after buying an additional 641 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of Enlight Renewable Energy by 8.8% in the 2nd quarter. TD Asset Management Inc now owns 13,821 shares of the company’s stock valued at $314,000 after buying an additional 1,114 shares during the period. Hedge funds and other institutional investors own 38.89% of the company’s stock.

About Enlight Renewable Energy

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.