Enphase Energy, Inc. (NASDAQ:ENPH) Short Interest Down 16.0% in March

Enphase Energy, Inc. (NASDAQ:ENPH) was the target of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 20,030,000 shares, a decline of 16.0% from the February 28th total of 23,840,000 shares. Based on an average daily volume of 4,030,000 shares, the days-to-cover ratio is presently 5.0 days. Approximately 15.8% of the shares of the company are short sold.

Analyst Ratings Changes

ENPH has been the subject of a number of analyst reports. Craig Hallum cut their price target on shares of Enphase Energy from $123.00 to $101.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Piper Sandler lowered their target price on Enphase Energy from $70.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Truist Financial reaffirmed a “hold” rating and issued a $65.00 price objective (down from $100.00) on shares of Enphase Energy in a research note on Thursday, January 16th. Susquehanna reduced their price objective on shares of Enphase Energy from $79.00 to $76.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Finally, Oppenheimer increased their price target on Enphase Energy from $101.00 to $103.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $89.79.

Enphase Energy Stock Down 5.4 %

NASDAQ ENPH traded down $3.35 on Thursday, reaching $59.18. 891,049 shares of the stock traded hands, compared to its average volume of 3,946,330. Enphase Energy has a 12 month low of $51.63 and a 12 month high of $141.63. The company has a market cap of $7.84 billion, a price-to-earnings ratio of 80.52 and a beta of 2.12. The company has a fifty day moving average price of $62.23 and a 200-day moving average price of $74.70. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. As a group, research analysts forecast that Enphase Energy will post 2.08 EPS for the current fiscal year.

Insider Activity at Enphase Energy

In other news, CFO Mandy Yang sold 1,319 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction of $83,519.08. Following the transaction, the chief financial officer now owns 78,524 shares in the company, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thurman J. Rodgers sold 100,000 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the transaction, the director now owns 1,881,760 shares in the company, valued at $115,276,617.60. The trade was a 5.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Enphase Energy by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company’s stock worth $1,135,707,000 after buying an additional 44,782 shares in the last quarter. Baillie Gifford & Co. increased its holdings in shares of Enphase Energy by 32.0% in the 4th quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock valued at $574,975,000 after acquiring an additional 2,028,691 shares during the period. Invesco Ltd. raised its position in shares of Enphase Energy by 43.4% in the 4th quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company’s stock worth $313,034,000 after acquiring an additional 1,378,978 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Enphase Energy by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 3,429,909 shares of the semiconductor company’s stock worth $234,994,000 after purchasing an additional 47,593 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in Enphase Energy by 131.6% during the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock valued at $155,360,000 after purchasing an additional 1,258,778 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.