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

Enphase Energy, Inc. (NASDAQ:ENPH) was the recipient of a large increase in short interest in the month of 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. Approximately 17.2% of the company’s stock are sold short. Based on an average daily trading volume, of 4,490,000 shares, the days-to-cover ratio is presently 4.9 days.

Enphase Energy Stock Performance

NASDAQ ENPH traded up $1.75 during midday trading on Tuesday, hitting $65.69. The company had a trading volume of 4,610,046 shares, compared to its average volume of 3,876,540. The company has a quick ratio of 3.88, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 88.77, a P/E/G ratio of 8.78 and a beta of 1.68. The firm has a fifty day simple moving average of $67.18 and a two-hundred day simple moving average of $85.75. Enphase Energy has a fifty-two week low of $58.33 and a fifty-two week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) 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%. Equities analysts forecast that Enphase Energy will post 2.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ENPH has been the topic of several research reports. Barclays dropped their price objective on shares of Enphase Energy from $91.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Truist Financial reiterated a “hold” rating and issued a $65.00 price objective (down previously from $100.00) on shares of Enphase Energy in a research note on Thursday, January 16th. Raymond James dropped their price objective on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Guggenheim upgraded shares of Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 price objective on the stock in a research note on Friday, January 31st. Finally, Janney Montgomery Scott lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $90.42.

Institutional Trading of Enphase Energy

Several institutional investors have recently made changes to their positions in ENPH. Avior Wealth Management LLC boosted its position in shares of Enphase Energy by 6,975.0% during the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 279 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Enphase Energy during the 3rd quarter valued at about $34,000. Stone House Investment Management LLC acquired a new stake in shares of Enphase Energy during the 3rd quarter valued at about $34,000. Quarry LP acquired a new stake in shares of Enphase Energy during the 3rd quarter valued at about $37,000. Finally, Venturi Wealth Management LLC boosted its position in shares of Enphase Energy by 318.1% during the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock valued at $46,000 after acquiring an additional 509 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.