Short Interest in Enlight Renewable Energy Ltd (NASDAQ:ENLT) Rises By 34.3%

Enlight Renewable Energy Ltd (NASDAQ:ENLT) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 103,800 shares, a growth of 34.3% from the September 15th total of 77,300 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 14,400 shares, the short-interest ratio is currently 7.2 days.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reissued a “buy” rating and set a $20.00 target price on shares of Enlight Renewable Energy in a research note on Wednesday, August 14th.

Enlight Renewable Energy Price Performance

Shares of ENLT stock traded up $0.05 during trading hours on Tuesday, hitting $15.65. 3,579 shares of the company’s stock were exchanged, compared to its average volume of 27,770. Enlight Renewable Energy has a fifty-two week low of $12.11 and a fifty-two week high of $20.00. The firm has a market cap of $1.81 billion, a P/E ratio of 30.61 and a beta of 1.69. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm has a 50 day moving average of $16.03 and a two-hundred day moving average of $16.42.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.07. Enlight Renewable Energy had a net margin of 18.61% and a return on equity of 3.97%. The company had revenue of $84.70 million during the quarter, compared to analysts’ expectations of $76.23 million. During the same period in the prior year, the business posted $0.12 earnings per share. The firm’s revenue for the quarter was up 61.0% on a year-over-year basis. Sell-side analysts forecast that Enlight Renewable Energy will post 0.26 EPS for the current year.

Institutional Investors Weigh In On Enlight Renewable Energy

Large investors have recently bought and sold shares of the company. Y.D. More Investments Ltd raised its holdings in Enlight Renewable Energy by 94,919.7% in the 2nd quarter. Y.D. More Investments Ltd now owns 1,957,405 shares of the company’s stock valued at $31,166,000 after acquiring an additional 1,955,345 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in Enlight Renewable Energy by 3.4% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,542,307 shares of the company’s stock worth $43,016,000 after buying an additional 83,400 shares in the last quarter. Vanguard Group Inc. boosted its stake in Enlight Renewable Energy by 0.7% during the first quarter. Vanguard Group Inc. now owns 4,001,391 shares of the company’s stock worth $67,704,000 after buying an additional 29,249 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in Enlight Renewable Energy in the 1st quarter valued at $377,000. Finally, Susquehanna International Group Ltd. acquired a new stake in shares of Enlight Renewable Energy in the 2nd quarter worth $253,000. 38.89% of the stock is currently owned by hedge funds and other institutional investors.

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.