Enphase Energy Inc (NASDAQ:ENPH) Short Interest Up 18.3% in August

Enphase Energy Inc (NASDAQ:ENPH) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 24,024,207 shares, a growth of 18.3% from the August 15th total of 20,309,948 shares. Approximately 38.7% of the company’s stock are sold short. Based on an average daily trading volume, of 2,928,957 shares, the short-interest ratio is presently 8.2 days.

Several analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Enphase Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. BidaskClub lowered shares of Enphase Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, July 31st. HC Wainwright set a $9.00 price target on shares of Enphase Energy and gave the stock a “buy” rating in a research report on Wednesday, June 13th. ValuEngine lowered shares of Enphase Energy from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. Finally, B. Riley set a $8.00 price target on shares of Enphase Energy and gave the stock a “buy” rating in a research report on Wednesday, June 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $7.21.

In other Enphase Energy news, CFO Eric Branderiz bought 19,880 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The stock was bought at an average cost of $5.03 per share, for a total transaction of $99,996.40. Following the completion of the transaction, the chief financial officer now owns 19,880 shares of the company’s stock, valued at approximately $99,996.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Badrinarayanan Kothandaraman bought 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The shares were acquired at an average price of $4.88 per share, with a total value of $73,200.00. Following the completion of the transaction, the chief executive officer now directly owns 95,677 shares of the company’s stock, valued at approximately $466,903.76. The disclosure for this purchase can be found here. 13.52% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in shares of Enphase Energy by 656.0% in the second quarter. BlackRock Inc. now owns 5,543,050 shares of the semiconductor company’s stock valued at $37,305,000 after acquiring an additional 4,809,849 shares during the period. Guggenheim Capital LLC raised its stake in shares of Enphase Energy by 17,262.5% in the first quarter. Guggenheim Capital LLC now owns 3,403,924 shares of the semiconductor company’s stock valued at $15,556,000 after acquiring an additional 3,384,319 shares during the period. Gilder Gagnon Howe & Co. LLC raised its stake in shares of Enphase Energy by 90.6% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 3,153,516 shares of the semiconductor company’s stock valued at $21,223,000 after acquiring an additional 1,498,591 shares during the period. Millennium Management LLC raised its stake in shares of Enphase Energy by 379.0% in the first quarter. Millennium Management LLC now owns 1,026,880 shares of the semiconductor company’s stock valued at $4,693,000 after acquiring an additional 812,493 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Enphase Energy by 484.3% in the second quarter. Northern Trust Corp now owns 918,088 shares of the semiconductor company’s stock valued at $6,179,000 after acquiring an additional 760,975 shares during the period. 39.17% of the stock is currently owned by institutional investors.

Shares of ENPH stock traded up $0.12 during mid-day trading on Monday, hitting $4.63. The company had a trading volume of 1,679,100 shares, compared to its average volume of 2,649,086. The company has a market capitalization of $469.71 million, a PE ratio of -8.40 and a beta of 0.30. The company has a debt-to-equity ratio of -1.11, a quick ratio of 1.20 and a current ratio of 1.36. Enphase Energy has a 52-week low of $1.24 and a 52-week high of $7.60.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, July 31st. The semiconductor company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.01. The business had revenue of $75.90 million for the quarter, compared to analysts’ expectations of $76.76 million. Enphase Energy’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.08) EPS. On average, research analysts predict that Enphase Energy will post -0.08 EPS for the current fiscal year.

Enphase Energy Company Profile

Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells microinverter systems for residential and commercial markets in the United States and internationally. The company's semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity at the individual solar module level.

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