Enlight Renewable Energy Ltd (NASDAQ:ENLT) Short Interest Up 12.1% in October

Enlight Renewable Energy Ltd (NASDAQ:ENLT) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 102,200 shares, an increase of 12.1% from the October 15th total of 91,200 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 6,800 shares, the short-interest ratio is currently 15.0 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENLT. Advisors Asset Management Inc. raised its holdings in Enlight Renewable Energy by 1,181.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 14,263 shares of the company’s stock worth $241,000 after purchasing an additional 13,150 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Enlight Renewable Energy during the 1st quarter valued at $254,000. Susquehanna International Group Ltd. acquired a new position in shares of Enlight Renewable Energy in the 2nd quarter valued at $253,000. Quadrature Capital Ltd bought a new position in shares of Enlight Renewable Energy in the 1st quarter worth $377,000. Finally, Barclays PLC grew its stake in shares of Enlight Renewable Energy by 4,278.2% during the third quarter. Barclays PLC now owns 25,525 shares of the company’s stock worth $432,000 after purchasing an additional 24,942 shares during the period. Institutional investors and hedge funds own 38.89% of the company’s stock.

Enlight Renewable Energy Price Performance

Shares of NASDAQ:ENLT traded up $0.24 on Monday, hitting $16.47. The stock had a trading volume of 9,867 shares, compared to its average volume of 25,918. Enlight Renewable Energy has a twelve month low of $14.09 and a twelve month high of $20.00. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.59 and a current ratio of 0.53. The firm’s 50 day moving average price is $15.88 and its 200-day moving average price is $16.34. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 36.89 and a beta of 1.71.

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, topping the consensus estimate of $0.03 by $0.09. The business had revenue of $109.50 million for the quarter, compared to the consensus estimate of $83.09 million. Enlight Renewable Energy had a net margin of 13.58% and a return on equity of 3.34%. The firm’s quarterly revenue was up 87.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 EPS. On average, equities research analysts predict that Enlight Renewable Energy will post 0.18 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ENLT shares. Barclays raised their price objective on shares of Enlight Renewable Energy from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday. Roth Mkm reiterated a “buy” rating and issued a $20.00 target price on shares of Enlight Renewable Energy in a report on Wednesday, August 14th.

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.