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

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

Analysts Set New Price Targets

A number of analysts recently commented on the stock. BMO Capital Markets lowered their target price on shares of Enphase Energy from $69.00 to $66.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. TD Cowen cut their target price on Enphase Energy from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Truist Financial reiterated a “hold” rating and set a $65.00 price objective (down previously from $100.00) on shares of Enphase Energy in a research note on Thursday, January 16th. Glj Research restated a “sell” rating and issued a $50.69 price objective on shares of Enphase Energy in a research report on Tuesday, February 4th. Finally, Canaccord Genuity Group upgraded Enphase Energy from a “hold” rating to a “buy” rating and increased their target price for the company from $76.00 to $82.00 in a research report on Wednesday, February 5th. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $90.36.

Enphase Energy Stock Down 3.6 %

Shares of ENPH stock traded down $2.26 during trading hours on Tuesday, reaching $59.79. 166,909 shares of the stock were exchanged, compared to its average volume of 3,940,846. Enphase Energy has a 12-month low of $51.63 and a 12-month high of $141.63. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The firm has a market capitalization of $7.92 billion, a P/E ratio of 80.91 and a beta of 2.12. The business’s fifty day moving average is $62.21 and its two-hundred day moving average is $75.12.

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

Insider Transactions at Enphase Energy

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

Institutional Trading of Enphase Energy

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP acquired a new position in shares of Enphase Energy in the third quarter valued at approximately $37,000. Venturi Wealth Management LLC boosted its holdings in Enphase Energy by 318.1% during the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock worth $46,000 after buying an additional 509 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in Enphase Energy during the fourth quarter worth about $47,000. GeoWealth Management LLC grew its position in Enphase Energy by 56.3% during the fourth quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company’s stock worth $61,000 after buying an additional 321 shares during the period. Finally, Sava Infond d.o.o. acquired a new stake in shares of Enphase Energy during the 4th quarter valued at approximately $69,000. 72.12% of the stock is 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.