Enlight Renewable Energy Ltd (NASDAQ:ENLT) Short Interest Update

Enlight Renewable Energy Ltd (NASDAQ:ENLT) was the target of a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 103,800 shares, a drop of 8.5% from the November 15th total of 113,400 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 10,800 shares, the short-interest ratio is currently 9.6 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ENLT. Geode Capital Management LLC raised its stake in shares of Enlight Renewable Energy by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 103,590 shares of the company’s stock valued at $1,751,000 after buying an additional 907 shares during the last quarter. Tidal Investments LLC grew its holdings in Enlight Renewable Energy by 11.3% during the third quarter. Tidal Investments LLC now owns 18,241 shares of the company’s stock worth $308,000 after acquiring an additional 1,852 shares during the period. Advisors Asset Management Inc. raised its position in Enlight Renewable Energy by 1,181.5% during the third quarter. Advisors Asset Management Inc. now owns 14,263 shares of the company’s stock valued at $241,000 after acquiring an additional 13,150 shares in the last quarter. Susquehanna International Group Ltd. acquired a new position in Enlight Renewable Energy in the second quarter valued at approximately $253,000. Finally, Barclays PLC boosted its position in Enlight Renewable Energy by 4,278.2% in the 3rd quarter. Barclays PLC now owns 25,525 shares of the company’s stock worth $432,000 after purchasing an additional 24,942 shares in the last quarter. 38.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Barclays boosted their price objective on shares of Enlight Renewable Energy from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th.

Enlight Renewable Energy Price Performance

Shares of ENLT stock opened at $15.95 on Monday. The stock’s 50-day simple moving average is $15.99 and its 200-day simple moving average is $16.12. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 36.25 and a beta of 1.69. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.53 and a current ratio of 0.53. Enlight Renewable Energy has a fifty-two week low of $14.09 and a fifty-two week high of $20.00.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings results on Wednesday, November 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. Enlight Renewable Energy had a net margin of 13.58% and a return on equity of 3.34%. The business had revenue of $109.50 million during the quarter, compared to analysts’ expectations of $83.09 million. During the same quarter last year, the company posted $0.13 earnings per share. The business’s quarterly revenue was up 87.8% on a year-over-year basis. As a group, equities analysts forecast that Enlight Renewable Energy will post 0.15 earnings per share for the current fiscal year.

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.