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

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) was the recipient of a significant decline in short interest in the month of 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. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 36,723 shares, the days-to-cover ratio is currently 2.1 days. Based on an average daily volume of 36,723 shares, the days-to-cover ratio is currently 2.1 days. Currently, 0.1% of the company’s shares are sold short.

Enlight Renewable Energy Stock Performance

Shares of NASDAQ:ENLT traded up $0.98 on Monday, reaching $51.20. The company had a trading volume of 89,641 shares, compared to its average volume of 48,310. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.91. Enlight Renewable Energy has a 52-week low of $14.01 and a 52-week high of $52.92. The firm’s 50 day simple moving average is $42.58 and its 200-day simple moving average is $33.70.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $0.16 earnings per share for the quarter, beating 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 company had revenue of $165.06 million for the quarter, compared to the consensus estimate of $146.04 million. As a group, analysts expect that Enlight Renewable Energy will post 0.41 EPS for the current year.

Analyst Ratings Changes

ENLT has been the topic of a number of research reports. Barclays raised their target price on shares of Enlight Renewable Energy from $34.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Mizuho increased their price objective on Enlight Renewable Energy from $24.00 to $27.00 and gave the stock an “underperform” rating in a research note on Monday, November 17th. Roth Capital lifted their target price 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. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $38.00 price target on shares of Enlight Renewable Energy in a research report on Wednesday, January 7th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $35.00 price objective on shares of Enlight Renewable Energy in a report on Monday, December 8th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.83.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Enlight Renewable Energy by 2.1% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,247,031 shares of the company’s stock valued at $253,986,000 after acquiring an additional 173,009 shares during the period. Meitav Investment House Ltd. grew its stake in Enlight Renewable Energy by 0.3% during the 2nd quarter. Meitav Investment House Ltd. now owns 5,668,798 shares of the company’s stock valued at $128,607,000 after purchasing an additional 19,582 shares during the last quarter. Y.D. More Investments Ltd increased its holdings in shares of Enlight Renewable Energy by 50.5% in the third quarter. Y.D. More Investments Ltd now owns 5,584,817 shares of the company’s stock valued at $172,143,000 after purchasing an additional 1,875,084 shares during the period. Vanguard Group Inc. raised its stake in shares of Enlight Renewable Energy by 1.6% in the third quarter. Vanguard Group Inc. now owns 4,447,614 shares of the company’s stock worth $136,800,000 after purchasing an additional 70,338 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Enlight Renewable Energy by 3.9% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,722,610 shares of the company’s stock worth $84,837,000 after purchasing an additional 103,430 shares during the last quarter. Institutional investors own 38.89% of the company’s stock.

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.