Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Sees Significant Growth in Short Interest

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) was the target of a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 100,874 shares, a growth of 31.4% from the January 15th total of 76,789 shares. Based on an average daily trading volume, of 95,354 shares, the days-to-cover ratio is presently 1.1 days. Based on an average daily trading volume, of 95,354 shares, the days-to-cover ratio is presently 1.1 days.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Mizuho raised their target price on Enlight Renewable Energy from $24.00 to $27.00 and gave the company an “underperform” rating in a report on Monday, November 17th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $35.00 price objective on shares of Enlight Renewable Energy in a research note on Monday, December 8th. Roth Mkm upped their target price on shares of Enlight Renewable Energy from $30.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Barclays lifted their price target on shares of Enlight Renewable Energy from $34.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. Finally, UBS Group boosted their price target on Enlight Renewable Energy to $65.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $41.83.

Institutional Trading of Enlight Renewable Energy

A number of large investors have recently made changes to their positions in ENLT. Advisors Asset Management Inc. increased its position in Enlight Renewable Energy by 0.9% during the 4th quarter. Advisors Asset Management Inc. now owns 26,865 shares of the company’s stock worth $1,221,000 after purchasing an additional 251 shares in the last quarter. Mariner LLC boosted its stake in shares of Enlight Renewable Energy by 4.1% during the 3rd quarter. Mariner LLC now owns 10,070 shares of the company’s stock worth $314,000 after purchasing an additional 396 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Enlight Renewable Energy by 1.0% in the third quarter. Public Employees Retirement System of Ohio now owns 45,693 shares of the company’s stock valued at $1,409,000 after buying an additional 472 shares during the last quarter. Jane Street Group LLC raised its position in shares of Enlight Renewable Energy by 6.0% in 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 last quarter. Finally, Bank of Montreal Can lifted its stake in shares of Enlight Renewable Energy by 6.4% during the second quarter. Bank of Montreal Can now owns 11,021 shares of the company’s stock valued at $251,000 after buying an additional 660 shares during the period. Institutional investors and hedge funds own 38.89% of the company’s stock.

Enlight Renewable Energy Stock Up 1.2%

Shares of ENLT opened at $64.86 on Monday. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.88 and a quick ratio of 0.88. Enlight Renewable Energy has a 1-year low of $14.01 and a 1-year high of $65.82. The firm has a 50 day simple moving average of $50.50 and a 200-day simple moving average of $38.34.

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.