Enphase Energy, Inc. (NASDAQ:ENPH) Sees Large Increase in Short Interest

Enphase Energy, Inc. (NASDAQ:ENPH) was the target of a large increase in short interest in January. As of January 31st, there was short interest totalling 22,220,000 shares, an increase of 8.0% from the January 15th total of 20,570,000 shares. Based on an average daily volume of 4,490,000 shares, the short-interest ratio is presently 4.9 days. Approximately 17.2% of the company’s stock are sold short.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH traded up $0.54 during mid-day trading on Tuesday, reaching $64.48. The stock had a trading volume of 1,150,928 shares, compared to its average volume of 3,753,311. The company has a current ratio of 3.53, a quick ratio of 3.88 and a debt-to-equity ratio of 1.44. The company has a market cap of $8.71 billion, a P/E ratio of 86.62, a price-to-earnings-growth ratio of 8.78 and a beta of 1.68. Enphase Energy has a 1 year low of $58.33 and a 1 year high of $141.63. The business’s 50 day moving average price is $67.36 and its 200 day moving average price is $86.03.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. Research analysts expect that Enphase Energy will post 2.12 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on ENPH. Hsbc Global Res lowered Enphase Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. Oppenheimer lifted their target price on Enphase Energy from $101.00 to $103.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Wells Fargo & Company reduced their target price on Enphase Energy from $83.00 to $77.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Canaccord Genuity Group raised Enphase Energy from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $76.00 to $82.00 in a report on Wednesday, February 5th. Finally, Susquehanna cut their price objective on Enphase Energy from $79.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $90.42.

Institutional Investors Weigh In On Enphase Energy

Large investors have recently added to or reduced their stakes in the stock. Avior Wealth Management LLC increased its stake in Enphase Energy by 6,975.0% during the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 279 shares during the last quarter. nVerses Capital LLC bought a new stake in Enphase Energy during the third quarter worth approximately $34,000. Stone House Investment Management LLC bought a new stake in Enphase Energy during the third quarter worth approximately $34,000. Quarry LP bought a new stake in Enphase Energy during the third quarter worth approximately $37,000. Finally, Venturi Wealth Management LLC increased its stake in Enphase Energy by 318.1% during the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 509 shares during the last quarter. 72.12% of the stock is owned by institutional investors.

About Enphase Energy

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.