Short Interest in Enphase Energy, Inc. (NASDAQ:ENPH) Drops By 7.9%

Enphase Energy, Inc. (NASDAQ:ENPH) saw a large decline in short interest during 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 short-interest ratio is currently 4.3 days. Approximately 14.8% of the company’s stock are sold short.

Institutional Investors Weigh In On Enphase Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Avior Wealth Management LLC increased its holdings in Enphase Energy by 6,975.0% in the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 279 shares during the last quarter. UMB Bank n.a. boosted its position in shares of 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 in the last quarter. nVerses Capital LLC acquired a new position in shares of Enphase Energy during the 3rd quarter worth about $34,000. Stone House Investment Management LLC purchased a new position in shares of Enphase Energy in the 3rd quarter valued at about $34,000. Finally, Quarry LP acquired a new stake in shares of Enphase Energy during the 3rd quarter worth about $37,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ENPH shares. Guggenheim downgraded 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 report on Wednesday, October 23rd. BMO Capital Markets dropped their target price on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a research report on Monday, October 14th. Evercore ISI lowered their price objective on shares of Enphase Energy from $133.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Janney Montgomery Scott lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 target price for the company. in a research report on Wednesday, October 23rd. Finally, StockNews.com upgraded Enphase Energy from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $100.33.

Enphase Energy Trading Up 2.5 %

ENPH opened at $73.40 on Wednesday. The business has a fifty day moving average price of $78.05 and a 200 day moving average price of $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. The stock has a market capitalization of $9.92 billion, a price-to-earnings ratio of 166.82, a PEG ratio of 22.03 and a beta of 1.69.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The company 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 business’s quarterly revenue was down 30.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 earnings per share. Sell-side analysts expect that Enphase Energy will post 0.94 earnings per share for the current fiscal year.

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.