Enlight Renewable Energy Ltd. (NASDAQ:ENLT) Short Interest Up 28.2% in March

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) was the recipient of a large growth in short interest in March. As of March 13th, there was short interest totaling 288,764 shares, a growth of 28.2% from the February 26th total of 225,207 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average trading volume of 216,668 shares, the short-interest ratio is presently 1.3 days.

Enlight Renewable Energy Stock Up 6.2%

Shares of NASDAQ:ENLT opened at $68.26 on Wednesday. The company has a fifty day moving average of $67.12 and a 200-day moving average of $48.50. The company has a market capitalization of $8.09 billion, a PE ratio of 66.92, a price-to-earnings-growth ratio of 8.65 and a beta of 1.29. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.88 and a current ratio of 0.67. Enlight Renewable Energy has a 52-week low of $14.01 and a 52-week high of $81.28.

Enlight Renewable Energy (NASDAQ:ENLT) last released its quarterly earnings data on Saturday, February 14th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.17. The company had revenue of $124.19 million for the quarter, compared to the consensus estimate of $146.12 million. Enlight Renewable Energy had a return on equity of 7.35% and a net margin of 22.69%. On average, equities analysts predict that Enlight Renewable Energy will post 0.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Enlight Renewable Energy in a report on Friday. Barclays reaffirmed an “overweight” rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. UBS Group increased their price objective on shares of Enlight Renewable Energy to $65.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $35.00 target price on shares of Enlight Renewable Energy in a report on Monday, December 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $38.00 target price on shares of Enlight Renewable Energy in a research report on Wednesday, January 7th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $43.50.

Institutional Trading of Enlight Renewable Energy

A number of hedge funds have recently made changes to their positions in ENLT. Clal Insurance Enterprises Holdings Ltd increased its stake in shares of Enlight Renewable Energy by 19.9% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 9,890,141 shares of the company’s stock valued at $448,589,000 after buying an additional 1,643,110 shares during the period. Y.D. More Investments Ltd boosted its position in Enlight Renewable Energy by 4.5% during the 4th quarter. Y.D. More Investments Ltd now owns 5,837,263 shares of the company’s stock worth $264,965,000 after buying an additional 252,446 shares during the period. Vanguard Group Inc. boosted its position in Enlight Renewable Energy by 11.3% during the 4th quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company’s stock worth $225,058,000 after buying an additional 503,060 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Enlight Renewable Energy by 3.9% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,722,610 shares of the company’s stock worth $84,837,000 after acquiring an additional 103,430 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Enlight Renewable Energy by 2.8% during the 3rd quarter. Legal & General Group Plc now owns 1,920,888 shares of the company’s stock worth $59,253,000 after acquiring an additional 53,103 shares during the last quarter. 38.89% of the stock is owned by institutional investors and hedge funds.

About Enlight Renewable Energy

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.