Short Interest in Enphase Energy, Inc. (NASDAQ:ENPH) Rises By 12.1%

Enphase Energy, Inc. (NASDAQ:ENPHGet Free Report) was the recipient of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 13,440,000 shares, an increase of 12.1% from the May 15th total of 11,990,000 shares. Approximately 10.3% of the company’s stock are sold short. Based on an average daily trading volume, of 3,830,000 shares, the days-to-cover ratio is presently 3.5 days.

Analysts Set New Price Targets

ENPH has been the topic of several analyst reports. Jefferies Financial Group downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating and lowered their target price for the stock from $135.00 to $111.00 in a research report on Wednesday, April 24th. Susquehanna reissued a “positive” rating and issued a $140.00 price objective on shares of Enphase Energy in a research note on Friday, April 5th. B. Riley boosted their target price on Enphase Energy from $121.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Royal Bank of Canada lowered their price target on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. Finally, Truist Financial reduced their price objective on shares of Enphase Energy from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, April 23rd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $136.68.

Check Out Our Latest Research Report on ENPH

Insider Buying and Selling at Enphase Energy

In related news, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $116.29, for a total transaction of $581,450.00. Following the completion of the sale, the executive vice president now directly owns 119,948 shares in the company, valued at $13,948,752.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $116.29, for a total value of $581,450.00. Following the completion of the sale, the executive vice president now owns 119,948 shares of the company’s stock, valued at approximately $13,948,752.92. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Mandy Yang acquired 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average cost of $104.24 per share, for a total transaction of $416,960.00. Following the transaction, the chief financial officer now owns 62,973 shares of the company’s stock, valued at approximately $6,564,305.52. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 344,526 shares of company stock worth $43,104,875. 3.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently modified their holdings of ENPH. Bogart Wealth LLC bought a new position in Enphase Energy during the 4th quarter valued at about $26,000. Manchester Capital Management LLC raised its stake in shares of Enphase Energy by 1,068.4% in the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 203 shares during the last quarter. CVA Family Office LLC acquired a new position in shares of Enphase Energy in the 4th quarter worth approximately $31,000. Chilton Capital Management LLC boosted its holdings in shares of Enphase Energy by 2,733.3% in the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 246 shares in the last quarter. Finally, YHB Investment Advisors Inc. bought a new stake in Enphase Energy during the 1st quarter worth approximately $35,000. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH traded down $5.11 during midday trading on Friday, reaching $124.61. 3,054,976 shares of the company’s stock were exchanged, compared to its average volume of 3,597,065. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.78 and a current ratio of 4.16. The company’s 50 day simple moving average is $118.13 and its two-hundred day simple moving average is $117.82. Enphase Energy has a 12 month low of $73.49 and a 12 month high of $192.22. The firm has a market capitalization of $16.95 billion, a PE ratio of 64.90, a price-to-earnings-growth ratio of 4.80 and a beta of 1.77.

Enphase Energy (NASDAQ:ENPHGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.17). The business had revenue of $263.34 million during the quarter, compared to analyst estimates of $280.06 million. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. Equities research analysts expect that Enphase Energy will post 1.53 earnings per share for the current fiscal year.

Enphase Energy Company Profile

(Get Free Report)

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.

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