Short Interest in Enphase Energy, Inc. (NASDAQ:ENPH) Decreases By 8.7%

Enphase Energy, Inc. (NASDAQ:ENPH) was the target of a significant decline in short interest in the month of August. As of August 15th, there was short interest totalling 14,060,000 shares, a decline of 8.7% from the July 31st total of 15,400,000 shares. Based on an average daily volume of 3,870,000 shares, the short-interest ratio is currently 3.6 days. Currently, 10.8% of the shares of the company are short sold.

Insider Transactions at Enphase Energy

In other news, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $123.27, for a total value of $616,350.00. Following the transaction, the executive vice president now directly owns 107,943 shares in the company, valued at $13,306,133.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Enphase Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Donoghue Forlines LLC boosted its position in shares of Enphase Energy by 4.8% during the fourth quarter. Donoghue Forlines LLC now owns 1,953 shares of the semiconductor company’s stock worth $258,000 after purchasing an additional 90 shares in the last quarter. Benjamin Edwards Inc. boosted its position in shares of Enphase Energy by 2.8% during the second quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock worth $335,000 after purchasing an additional 93 shares in the last quarter. Fermata Advisors LLC boosted its position in shares of Enphase Energy by 1.4% during the first quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock worth $855,000 after purchasing an additional 100 shares in the last quarter. Hollencrest Capital Management boosted its position in shares of Enphase Energy by 3.3% during the first quarter. Hollencrest Capital Management now owns 3,095 shares of the semiconductor company’s stock worth $374,000 after purchasing an additional 100 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of Enphase Energy by 0.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock worth $1,165,000 after purchasing an additional 100 shares in the last quarter. 72.12% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ENPH has been the topic of several research reports. BMO Capital Markets boosted their price target on Enphase Energy from $110.00 to $115.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. Barclays lowered their price target on Enphase Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Glj Research initiated coverage on Enphase Energy in a research note on Tuesday, June 25th. They set a “sell” rating and a $45.82 price target on the stock. Susquehanna boosted their price target on Enphase Energy from $140.00 to $147.00 and gave the company a “positive” rating in a research note on Monday, July 15th. Finally, Royal Bank of Canada lowered their price target on Enphase Energy from $130.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $128.76.

Enphase Energy Trading Down 6.7 %

ENPH stock traded down $8.13 during midday trading on Tuesday, reaching $112.91. The company’s stock had a trading volume of 2,353,240 shares, compared to its average volume of 3,933,931. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $141.63. The stock has a market cap of $15.36 billion, a PE ratio of 58.81, a price-to-earnings-growth ratio of 6.22 and a beta of 1.71. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The business’s 50-day simple moving average is $110.81 and its 200-day simple moving average is $115.67.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The business had revenue of $303.80 million during the quarter, compared to the consensus estimate of $309.73 million. During the same period in the previous year, the business posted $1.16 earnings per share. Enphase Energy’s revenue was down 57.3% compared to the same quarter last year. As a group, sell-side analysts expect that Enphase Energy will post 1.23 EPS for the current 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.