Short Interest in Enphase Energy, Inc. (NASDAQ:ENPH) Rises By 6.4%

Enphase Energy, Inc. (NASDAQ:ENPH) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 14,550,000 shares, an increase of 6.4% from the June 30th total of 13,670,000 shares. Currently, 11.1% of the shares of the stock are sold short. Based on an average daily volume of 4,350,000 shares, the short-interest ratio is currently 3.3 days.

Enphase Energy Stock Performance

Shares of NASDAQ:ENPH traded down $5.43 during midday trading on Thursday, hitting $109.68. The stock had a trading volume of 3,259,916 shares, compared to its average volume of 4,184,413. The company has a market capitalization of $14.92 billion, a PE ratio of 58.22, a P/E/G ratio of 5.58 and a beta of 1.71. The stock has a 50 day moving average price of $115.15 and a two-hundred day moving average price of $115.30. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $145.50.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). The firm had revenue of $303.80 million during the quarter, compared to analysts’ expectations of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The firm’s revenue was down 57.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.16 EPS. As a group, equities analysts predict that Enphase Energy will post 1.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $123.27, for a total transaction of $616,350.00. Following the completion of the transaction, the executive vice president now owns 107,943 shares in the company, valued at approximately $13,306,133.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Enphase Energy news, Director Thurman J. Rodgers sold 319,526 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $126.53, for a total value of $40,429,624.78. Following the completion of the sale, the director now owns 1,984,562 shares in the company, valued at approximately $251,106,629.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $123.27, for a total transaction of $616,350.00. Following the completion of the sale, the executive vice president now owns 107,943 shares of the company’s stock, valued at approximately $13,306,133.61. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Institutional Trading of Enphase Energy

Institutional investors have recently added to or reduced their stakes in the stock. Bogart Wealth LLC purchased a new stake in Enphase Energy during the fourth quarter worth about $26,000. Manchester Capital Management LLC lifted its holdings in shares of Enphase Energy by 1,068.4% in the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 203 shares in the last quarter. Chilton Capital Management LLC raised its position in shares of Enphase Energy by 2,733.3% in the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 246 shares during the last quarter. YHB Investment Advisors Inc. acquired a new position in shares of Enphase Energy in the first quarter valued at approximately $35,000. Finally, Addison Advisors LLC raised its position in shares of Enphase Energy by 1,447.6% in the fourth quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 304 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ENPH. Wells Fargo & Company cut their price target on shares of Enphase Energy from $141.00 to $130.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. BMO Capital Markets raised their price target on shares of Enphase Energy from $110.00 to $115.00 and gave the stock a “market perform” rating in a report on Wednesday, July 24th. Canaccord Genuity Group cut their price target on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Piper Sandler increased their price objective on shares of Enphase Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Finally, DZ Bank began coverage on shares of Enphase Energy in a research report on Wednesday, April 17th. They set a “hold” rating and a $116.00 price objective for the company. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $128.53.

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.