Enlight Renewable Energy Ltd (NASDAQ:ENLT) Short Interest Down 11.3% in December

Enlight Renewable Energy Ltd (NASDAQ:ENLT) was the target of a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 92,100 shares, a drop of 11.3% from the November 30th total of 103,800 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 15,300 shares, the days-to-cover ratio is currently 6.0 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Clal Insurance Enterprises Holdings Ltd raised its stake in Enlight Renewable Energy by 4.2% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,771,161 shares of the company’s stock worth $147,885,000 after buying an additional 353,750 shares during the period. Y.D. More Investments Ltd raised its position in shares of Enlight Renewable Energy by 94,919.7% during the second quarter. Y.D. More Investments Ltd now owns 1,957,405 shares of the company’s stock worth $31,166,000 after purchasing an additional 1,955,345 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of Enlight Renewable Energy during the third quarter worth approximately $4,901,000. Geode Capital Management LLC lifted its holdings in shares of Enlight Renewable Energy by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 103,590 shares of the company’s stock worth $1,751,000 after purchasing an additional 907 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Enlight Renewable Energy in the 3rd quarter valued at $655,000. 38.89% of the stock is owned by institutional investors.

Enlight Renewable Energy Stock Down 1.5 %

Shares of NASDAQ:ENLT opened at $17.20 on Monday. Enlight Renewable Energy has a 1 year low of $14.09 and a 1 year high of $19.81. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.53 and a quick ratio of 0.53. The business’s 50-day moving average is $16.15 and its 200-day moving average is $16.06. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 39.09 and a beta of 1.69.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings results on Wednesday, November 13th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.09. The firm had revenue of $109.50 million for the quarter, compared to analyst estimates of $83.09 million. Enlight Renewable Energy had a return on equity of 3.34% and a net margin of 13.58%. The company’s revenue was up 87.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 earnings per share. Equities research analysts predict that Enlight Renewable Energy will post 0.15 earnings per share for the current year.

Analyst Ratings Changes

Separately, Barclays increased their price target on Enlight Renewable Energy from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, November 15th.

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.