Short Interest in Enphase Energy Inc (NASDAQ:ENPH) Increases By 20.1%

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Enphase Energy Inc (NASDAQ:ENPH) saw a significant growth in short interest during the month of November. As of November 29th, there was short interest totalling 24,530,000 shares, a growth of 20.1% from the November 14th total of 20,420,000 shares. Currently, 29.0% of the company’s shares are short sold. Based on an average daily trading volume, of 5,570,000 shares, the short-interest ratio is presently 4.4 days.

ENPH traded down $0.53 during mid-day trading on Thursday, hitting $23.68. 6,119,005 shares of the stock were exchanged, compared to its average volume of 4,816,628. The firm’s fifty day moving average is $21.15 and its two-hundred day moving average is $22.66. Enphase Energy has a 1-year low of $4.53 and a 1-year high of $35.42. The company has a current ratio of 2.67, a quick ratio of 2.46 and a debt-to-equity ratio of 0.66. The company has a market cap of $2.94 billion, a PE ratio of -197.33 and a beta of 0.94.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, October 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.05. Enphase Energy had a return on equity of 62.77% and a net margin of 8.92%. The firm had revenue of $180.06 million for the quarter, compared to analyst estimates of $176.49 million. During the same quarter in the prior year, the company earned $0.04 EPS. Enphase Energy’s revenue was up 130.8% on a year-over-year basis. As a group, research analysts anticipate that Enphase Energy will post 0.61 earnings per share for the current year.

Several equities analysts have recently commented on ENPH shares. TheStreet lowered Enphase Energy from a “b-” rating to a “c+” rating in a research note on Tuesday, November 19th. Roth Capital set a $30.00 price target on Enphase Energy and gave the company a “buy” rating in a research note on Friday, October 25th. Zacks Investment Research lowered Enphase Energy from a “buy” rating to a “hold” rating and set a $26.00 price target on the stock. in a research note on Tuesday, October 1st. BidaskClub raised Enphase Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Finally, JPMorgan Chase & Co. assumed coverage on Enphase Energy in a research note on Monday, September 16th. They set an “overweight” rating and a $32.00 target price on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. Enphase Energy has a consensus rating of “Buy” and a consensus target price of $34.29.

In other Enphase Energy news, COO Jeff Mcneil sold 7,500 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $24.03, for a total transaction of $180,225.00. Following the transaction, the chief operating officer now owns 312,738 shares of the company’s stock, valued at $7,515,094.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Eric Branderiz acquired 10,000 shares of the stock in a transaction on Thursday, November 21st. The shares were bought at an average cost of $17.70 per share, for a total transaction of $177,000.00. The disclosure for this purchase can be found here. Insiders have sold 45,000 shares of company stock worth $942,965 in the last three months. 12.46% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Aperio Group LLC acquired a new position in Enphase Energy during the 2nd quarter worth about $26,000. Gradient Investments LLC acquired a new position in Enphase Energy during the 3rd quarter worth about $60,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in Enphase Energy by 607.5% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,830 shares of the semiconductor company’s stock worth $51,000 after acquiring an additional 2,430 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new position in Enphase Energy during the 2nd quarter worth about $54,000. Finally, Russell Investments Group Ltd. acquired a new position in Enphase Energy during the 3rd quarter worth about $67,000. 44.72% of the stock is currently owned by hedge funds and other institutional investors.

About Enphase Energy

Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control services.

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