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

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

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Canaccord Genuity Group raised Enphase Energy from a “hold” rating to a “buy” rating and upped their price objective for the stock from $76.00 to $82.00 in a report on Wednesday, February 5th. BMO Capital Markets lowered their price objective on shares of Enphase Energy from $69.00 to $66.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Barclays dropped their price objective on shares of Enphase Energy from $91.00 to $86.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. The Goldman Sachs Group lowered their price target on shares of Enphase Energy from $121.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Finally, Morgan Stanley decreased their price target on Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating on the stock in a 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $90.36.

Enphase Energy Trading Up 1.0 %

NASDAQ ENPH traded up $0.62 during trading hours on Wednesday, reaching $63.01. The company had a trading volume of 976,236 shares, compared to its average volume of 3,947,534. Enphase Energy has a 1-year low of $51.63 and a 1-year high of $141.63. The stock has a market capitalization of $8.35 billion, a P/E ratio of 85.15 and a beta of 2.12. The stock has a 50-day moving average of $62.20 and a 200 day moving average of $74.79. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, topping 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 anticipate that Enphase Energy will post 2.08 earnings per share for the current fiscal year.

Insider Activity

In other Enphase Energy news, CFO Mandy Yang sold 1,319 shares of the company’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 completion of the sale, the chief financial officer now owns 78,524 shares in the company, valued at $4,972,139.68. This represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $61.26, for a total value of $6,126,000.00. Following the transaction, the director now directly owns 1,881,760 shares in the company, valued at approximately $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. Corporate insiders own 3.40% of the company’s stock.

Institutional Trading of Enphase Energy

A number of institutional investors have recently bought and sold shares of ENPH. Quarry LP purchased a new stake in Enphase Energy during the third quarter worth approximately $37,000. Venturi Wealth Management LLC lifted its position in Enphase Energy by 318.1% during the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 509 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Enphase Energy during the fourth quarter worth approximately $47,000. GeoWealth Management LLC lifted its holdings in shares of 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 purchasing an additional 321 shares during the period. Finally, Sava Infond d.o.o. acquired a new stake in shares of Enphase Energy during the fourth quarter worth $69,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

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.