Enlight Renewable Energy Ltd (NASDAQ:ENLT) Short Interest Up 34.3% in September

Enlight Renewable Energy Ltd (NASDAQ:ENLT) was the recipient of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 103,800 shares, a growth of 34.3% from the September 15th total of 77,300 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily volume of 14,400 shares, the days-to-cover ratio is currently 7.2 days.

Enlight Renewable Energy Stock Up 0.3 %

Shares of ENLT traded up $0.05 during mid-day trading on Tuesday, hitting $15.65. 3,579 shares of the company’s stock were exchanged, compared to its average volume of 27,770. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.59. Enlight Renewable Energy has a fifty-two week low of $12.11 and a fifty-two week high of $20.00. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 30.61 and a beta of 1.69. The stock’s 50-day moving average is $16.03 and its 200-day moving average is $16.42.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.07. Enlight Renewable Energy had a return on equity of 3.97% and a net margin of 18.61%. The business had revenue of $84.70 million for the quarter, compared to analysts’ expectations of $76.23 million. During the same period last year, the firm earned $0.12 earnings per share. The company’s revenue for the quarter was up 61.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Enlight Renewable Energy will post 0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enlight Renewable Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Y.D. More Investments Ltd increased its position in shares of Enlight Renewable Energy by 94,919.7% in the 2nd quarter. Y.D. More Investments Ltd now owns 1,957,405 shares of the company’s stock valued at $31,166,000 after purchasing an additional 1,955,345 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in Enlight Renewable Energy by 3.4% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,542,307 shares of the company’s stock worth $43,016,000 after buying an additional 83,400 shares during the period. Vanguard Group Inc. lifted its stake in Enlight Renewable Energy by 0.7% in the first quarter. Vanguard Group Inc. now owns 4,001,391 shares of the company’s stock valued at $67,704,000 after buying an additional 29,249 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Enlight Renewable Energy in the first quarter valued at approximately $377,000. Finally, Susquehanna International Group Ltd. purchased a new position in shares of Enlight Renewable Energy during the second quarter worth approximately $253,000. 38.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reaffirmed a “buy” rating and issued a $20.00 target price on shares of Enlight Renewable Energy in a research report on Wednesday, August 14th.

Enlight Renewable Energy Company Profile

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.