Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Short Interest Update

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) was the target of a large decline in short interest in December. As of December 31st, there was short interest totaling 76,362 shares, a decline of 18.7% from the December 15th total of 93,875 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 36,723 shares, the days-to-cover ratio is presently 2.1 days. Based on an average daily trading volume, of 36,723 shares, the days-to-cover ratio is presently 2.1 days. Approximately 0.1% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its holdings in shares of Enlight Renewable Energy by 256.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock worth $28,000 after acquiring an additional 881 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in Enlight Renewable Energy in the 2nd quarter worth about $106,000. Bank of Montreal Can lifted its stake in Enlight Renewable Energy by 6.4% in the second 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 last quarter. Jane Street Group LLC boosted its position in shares of 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 during the period. Finally, TD Asset Management Inc grew its stake in shares of Enlight Renewable Energy by 8.8% during the second 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 last quarter. 38.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Roth Capital raised their price target on Enlight Renewable Energy from $30.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $35.00 price objective on shares of Enlight Renewable Energy in a research report on Monday, December 8th. Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a research report on Monday, December 29th. UBS Group upped their target price on Enlight Renewable Energy to $65.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $38.00 price target 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $41.83.

Enlight Renewable Energy Trading Up 2.0%

Shares of ENLT stock traded up $0.98 on Monday, hitting $51.20. 89,641 shares of the stock traded hands, compared to its average volume of 48,310. Enlight Renewable Energy has a 52 week low of $14.01 and a 52 week high of $52.92. The firm has a 50 day simple moving average of $42.58 and a two-hundred day simple moving average of $33.70. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.91.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings data on Wednesday, November 12th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $165.06 million during the quarter, compared to analyst estimates of $146.04 million. As a group, equities research analysts anticipate that Enlight Renewable Energy will post 0.41 EPS for the current year.

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.