Enphase Energy, Inc. (NASDAQ:ENPH) Sees Large Increase in Short Interest

Enphase Energy, Inc. (NASDAQ:ENPH) was the target of a significant growth in short interest in January. As of January 31st, there was short interest totalling 22,220,000 shares, a growth of 8.0% from the January 15th total of 20,570,000 shares. Currently, 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.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Avior Wealth Management LLC raised its stake in Enphase Energy by 6,975.0% during 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. nVerses Capital LLC purchased a new position in Enphase Energy during the third quarter valued at $34,000. Stone House Investment Management LLC purchased a new position in Enphase Energy during the third quarter valued at $34,000. Quarry LP purchased a new position in Enphase Energy during the third quarter valued at $37,000. Finally, Venturi Wealth Management LLC raised its stake in Enphase Energy by 318.1% during the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 509 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Analyst Upgrades and Downgrades

ENPH has been the subject of several recent research reports. Truist Financial reiterated a “hold” rating and set a $65.00 price target (down previously from $100.00) on shares of Enphase Energy in a report on Thursday, January 16th. The Goldman Sachs Group decreased their price target on Enphase Energy from $121.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Canaccord Genuity Group downgraded Enphase Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Canaccord Genuity Group upgraded Enphase Energy from a “hold” rating to a “buy” rating and upped their price target for the stock from $76.00 to $82.00 in a report on Wednesday, February 5th. Finally, Northland Securities decreased their price target on Enphase Energy from $110.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $90.42.

Enphase Energy Trading Up 0.8 %

NASDAQ ENPH traded up $0.54 on Tuesday, hitting $64.48. The company’s stock had a trading volume of 1,150,928 shares, compared to its average volume of 3,753,311. Enphase Energy has a 52-week low of $58.33 and a 52-week high of $141.63. The company has a current ratio of 3.53, a quick ratio of 3.88 and a debt-to-equity ratio of 1.44. The company’s 50-day simple moving average is $67.36 and its 200 day simple moving average is $86.03. The firm has a market cap of $8.71 billion, a P/E ratio of 86.62, a PEG ratio of 8.78 and a beta of 1.68.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. Research analysts predict that Enphase Energy will post 2.12 EPS for the current fiscal year.

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.