Short Interest in Enphase Energy, Inc. (NASDAQ:ENPH) Rises By 6.1%

Enphase Energy, Inc. (NASDAQ:ENPH) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 14,700,000 shares, an increase of 6.1% from the September 30th total of 13,850,000 shares. Currently, 11.3% of the shares of the company are short sold. Based on an average daily volume of 3,140,000 shares, the short-interest ratio is presently 4.7 days.

Analyst Ratings Changes

Several research analysts have weighed in on ENPH shares. Canaccord Genuity Group reiterated a “hold” rating and set a $95.00 price objective (down previously from $140.00) on shares of Enphase Energy in a research report on Wednesday, October 23rd. The Goldman Sachs Group decreased their target price on shares of Enphase Energy from $170.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Northland Securities cut their target price on Enphase Energy from $150.00 to $110.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada dropped their price objective on shares of Enphase Energy from $100.00 to $85.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Enphase Energy from $130.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $111.26.

Enphase Energy Stock Up 0.6 %

Shares of NASDAQ ENPH traded up $0.50 during trading on Friday, hitting $83.54. 4,106,015 shares of the company traded hands, compared to its average volume of 3,817,769. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16. The business’s fifty day moving average is $105.68 and its 200 day moving average is $110.77. The firm has a market capitalization of $11.29 billion, a price-to-earnings ratio of 189.86, a P/E/G ratio of 9.26 and a beta of 1.72. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.12). The firm had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The firm’s revenue was down 30.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.84 EPS. Equities research analysts predict that Enphase Energy will post 0.92 earnings per share for the current fiscal year.

Institutional Trading of Enphase Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of ENPH. Swedbank AB increased its position in shares of Enphase Energy by 0.3% during the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock worth $391,442,000 after acquiring an additional 11,890 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Enphase Energy by 48.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock worth $10,658,000 after acquiring an additional 29,013 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Enphase Energy by 364.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 108,674 shares of the semiconductor company’s stock worth $13,147,000 after acquiring an additional 85,284 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Enphase Energy by 54.9% in the second quarter. Envestnet Asset Management Inc. now owns 44,510 shares of the semiconductor company’s stock valued at $4,438,000 after purchasing an additional 15,776 shares during the last quarter. Finally, Doheny Asset Management CA bought a new position in shares of Enphase Energy during the second quarter valued at about $8,095,000. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Company Profile

Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.