Short Interest in Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Rises By 123.1%

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) was the target of a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 225,060 shares, an increase of 123.1% from the January 29th total of 100,874 shares. Based on an average daily trading volume, of 137,392 shares, the days-to-cover ratio is currently 1.6 days. Based on an average daily trading volume, of 137,392 shares, the days-to-cover ratio is currently 1.6 days.

Hedge Funds Weigh In On Enlight Renewable Energy

A number of institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its stake in shares of Enlight Renewable Energy by 256.1% in the second quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock worth $28,000 after buying an additional 881 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in Enlight Renewable Energy during the fourth quarter valued at approximately $56,000. Savant Capital LLC acquired a new position in Enlight Renewable Energy in the fourth quarter valued at approximately $241,000. Mackenzie Financial Corp purchased a new stake in Enlight Renewable Energy in the 4th quarter worth approximately $277,000. Finally, AQR Capital Management LLC purchased a new stake in Enlight Renewable Energy in the 4th quarter worth approximately $283,000. Hedge funds and other institutional investors own 38.89% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on ENLT shares. Roth Mkm boosted their price objective on shares of Enlight Renewable Energy from $30.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Barclays reaffirmed an “overweight” rating on shares of Enlight Renewable Energy in a report on Wednesday, February 18th. Mizuho set a $37.00 price objective on Enlight Renewable Energy in a report on Monday, February 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Monday, December 29th. Finally, UBS Group increased their price target on Enlight Renewable Energy to $65.00 and gave the company a “buy” rating in a research note on Friday, January 16th. 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. Based on data from MarketBeat, Enlight Renewable Energy has an average rating of “Hold” and an average target price of $43.50.

Enlight Renewable Energy Price Performance

NASDAQ ENLT traded down $2.81 during trading hours on Friday, reaching $67.24. The stock had a trading volume of 235,419 shares, compared to its average volume of 163,434. Enlight Renewable Energy has a 52-week low of $14.01 and a 52-week high of $81.28. The stock has a fifty day moving average of $56.52 and a 200 day moving average of $41.46. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.67 and a quick ratio of 0.88.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its quarterly earnings data on Tuesday, February 17th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.17. The business had revenue of $124.19 million during the quarter, compared to analysts’ expectations of $146.12 million. Enlight Renewable Energy had a net margin of 22.69% and a return on equity of 7.35%. Research analysts forecast that Enlight Renewable Energy will post 0.41 earnings per share 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.