Enphase Energy, Inc. (NASDAQ:ENPH) Short Interest Update

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ENPH. JPMorgan Chase & Co. dropped their price target on Enphase Energy from $130.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Royal Bank of Canada cut their price target on shares of Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating on the stock in a report on Friday, November 22nd. Evercore ISI reduced their price target on shares of Enphase Energy from $133.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Susquehanna dropped their price objective on shares of Enphase Energy from $104.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Finally, The Goldman Sachs Group reduced their target price on shares of Enphase Energy from $170.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $101.13.

Enphase Energy Stock Up 1.2 %

Shares of ENPH opened at $73.84 on Monday. The stock has a 50 day moving average price of $78.75 and a 200 day moving average price of $101.33. Enphase Energy has a one year low of $58.33 and a one year high of $141.63. 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 stock has a market capitalization of $9.98 billion, a price-to-earnings ratio of 167.82, a PEG ratio of 22.03 and a beta of 1.69.

Enphase Energy (NASDAQ:ENPH) last announced its 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 business had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The company’s revenue for the quarter was down 30.9% compared to the same quarter last year. During the same period last year, the firm earned $0.84 EPS. Equities research analysts forecast that Enphase Energy will post 0.94 earnings per share for the current fiscal year.

Institutional Trading of Enphase Energy

Hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. grew its position in shares of Enphase Energy by 57.9% in the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after purchasing an additional 2,304,408 shares in the last quarter. Electron Capital Partners LLC boosted its stake in Enphase Energy by 1,021.4% during the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after buying an additional 1,078,154 shares during the last quarter. Anomaly Capital Management LP acquired a new position in Enphase Energy during the second quarter worth $51,582,000. Mizuho Securities USA LLC grew its holdings in Enphase Energy by 4,177.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock valued at $50,737,000 after buying an additional 438,424 shares in the last quarter. Finally, Aspex Management HK Ltd acquired a new stake in shares of Enphase Energy in the 3rd quarter worth $48,442,000. Institutional investors and hedge funds 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.