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

Enphase Energy, Inc. (NASDAQ:ENPH) saw a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 19,140,000 shares, a drop of 7.9% from the November 15th total of 20,790,000 shares. Currently, 14.8% of the company’s stock are sold short. Based on an average daily volume of 4,500,000 shares, the days-to-cover ratio is presently 4.3 days.

Wall Street Analysts Forecast Growth

ENPH has been the subject of several analyst reports. Craig Hallum decreased their target price on Enphase Energy from $153.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. BNP Paribas cut Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 price target for the company. in a report on Friday, November 8th. Guggenheim lowered shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price objective on the stock. in a research note on Wednesday, October 23rd. William Blair began coverage on shares of Enphase Energy in a research report on Thursday, August 29th. They set a “market perform” rating on the stock. Finally, Hsbc Global Res lowered shares of Enphase Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. Four investment 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.com, the company presently has an average rating of “Hold” and a consensus price target of $100.33.

Enphase Energy Stock Performance

Shares of NASDAQ ENPH traded up $1.78 during mid-day trading on Tuesday, hitting $73.40. The company had a trading volume of 3,733,431 shares, compared to its average volume of 4,020,127. The stock has a market cap of $9.92 billion, a price-to-earnings ratio of 166.82, a PEG ratio of 22.03 and a beta of 1.69. The firm’s 50 day simple moving average is $78.05 and its two-hundred day simple moving average is $100.91. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. Enphase Energy has a 12 month low of $58.33 and a 12 month 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). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The firm had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. During the same period last year, the firm posted $0.84 EPS. The business’s revenue was down 30.9% compared to the same quarter last year. As a group, equities research analysts forecast that Enphase Energy will post 0.94 earnings per share for the current year.

Institutional Investors Weigh In On Enphase Energy

Large investors have recently made changes to their positions in the company. Avior Wealth Management LLC grew its holdings in Enphase Energy by 6,975.0% in the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock worth $32,000 after buying an additional 279 shares in the last quarter. UMB Bank n.a. boosted its position in Enphase Energy by 784.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 259 shares during the period. nVerses Capital LLC acquired a new position in Enphase Energy during the 3rd quarter worth $34,000. Stone House Investment Management LLC bought a new position in shares of Enphase Energy in the third quarter worth $34,000. Finally, Quarry LP acquired a new position in shares of Enphase Energy during the third quarter valued at $37,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.