Short Interest in Enlight Renewable Energy Ltd (NASDAQ:ENLT) Increases By 34.3%

Enlight Renewable Energy Ltd (NASDAQ:ENLT) was the recipient of a large growth in short interest in 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. Currently, 0.1% of the company’s stock are sold short. Based on an average trading volume of 14,400 shares, the short-interest ratio is currently 7.2 days.

Enlight Renewable Energy Stock Up 0.3 %

Shares of NASDAQ:ENLT traded up $0.04 during trading on Tuesday, reaching $15.65. 3,579 shares of the stock traded hands, compared to its average volume of 27,770. The stock has a market cap of $1.81 billion, a P/E ratio of 30.69 and a beta of 1.69. Enlight Renewable Energy has a 52-week low of $12.11 and a 52-week high of $20.00. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a 50-day moving average of $16.03 and a two-hundred day moving average of $16.42.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.06 earnings per share for the quarter, topping 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 firm had revenue of $84.70 million during the quarter, compared to analysts’ expectations of $76.23 million. During the same quarter in the previous year, the business earned $0.12 earnings per share. The company’s revenue was up 61.0% on a year-over-year basis. As a group, sell-side analysts expect that Enlight Renewable Energy will post 0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Susquehanna International Group Ltd. bought a new stake in shares of Enlight Renewable Energy in the second quarter worth $253,000. Y.D. More Investments Ltd increased its position in shares of Enlight Renewable Energy by 94,919.7% during 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. lifted its stake in shares of Enlight Renewable Energy by 3.0% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,619,180 shares of the company’s stock worth $42,326,000 after purchasing an additional 76,873 shares during the period. Tidal Investments LLC purchased a new position in shares of Enlight Renewable Energy in the first quarter worth approximately $254,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Enlight Renewable Energy in the first quarter worth approximately $377,000. 38.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reissued a “buy” rating and set a $20.00 price target 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.