Enphase Energy, Inc. (NASDAQ:ENPH) Short Interest Up 5.8% in July

Enphase Energy, Inc. (NASDAQ:ENPH) was the target of a large increase in short interest in July. As of July 31st, there was short interest totalling 15,400,000 shares, an increase of 5.8% from the July 15th total of 14,550,000 shares. Based on an average daily volume of 4,070,000 shares, the days-to-cover ratio is presently 3.8 days. Approximately 11.8% of the shares of the stock are sold short.

Enphase Energy Stock Performance

ENPH stock traded down $0.73 during mid-day trading on Friday, hitting $116.39. The company had a trading volume of 1,396,506 shares, compared to its average volume of 4,066,655. The firm has a market cap of $15.84 billion, a PE ratio of 60.62, a price-to-earnings-growth ratio of 5.59 and a beta of 1.71. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. Enphase Energy has a 12 month low of $73.49 and a 12 month high of $141.63. The stock’s fifty day moving average price is $110.74 and its two-hundred day moving average price is $115.50.

Enphase Energy (NASDAQ:ENPH) last posted 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 business had revenue of $303.80 million during the quarter, compared to analysts’ expectations of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. Enphase Energy’s revenue for the quarter was down 57.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.16 EPS. On average, analysts forecast that Enphase Energy will post 1.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Guggenheim raised their price target on shares of Enphase Energy from $92.00 to $93.00 and gave the company a “sell” rating in a research note on Wednesday, July 24th. Canaccord Genuity Group dropped their price target on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. B. Riley raised their price target on shares of Enphase Energy from $121.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. 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, HSBC upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 price target for the company in a report on Monday, June 10th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $128.96.

Insider Buying and Selling

In related news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 107,943 shares in the company, valued at approximately $13,306,133.61. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Thurman J. Rodgers sold 319,526 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $126.53, for a total transaction of $40,429,624.78. Following the completion of the transaction, the director now directly owns 1,984,562 shares in the company, valued at approximately $251,106,629.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $13,306,133.61. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Enphase Energy

Hedge funds have recently bought and sold shares of the company. Bogart Wealth LLC purchased a new position in Enphase Energy during the fourth quarter valued at approximately $26,000. Manchester Capital Management LLC grew its stake in Enphase Energy by 1,068.4% during the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 203 shares in the last quarter. Chilton Capital Management LLC grew its stake in Enphase Energy by 2,733.3% during the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 246 shares in the last quarter. YHB Investment Advisors Inc. purchased a new position in Enphase Energy during the first quarter valued at approximately $35,000. Finally, Addison Advisors LLC grew its stake in Enphase Energy by 1,447.6% during the fourth quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 304 shares in the last quarter. Hedge funds and other 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.