Short Interest in Enphase Energy, Inc. (NASDAQ:ENPH) Expands By 7.8%

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 15,840,000 shares, a growth of 7.8% from the October 15th total of 14,700,000 shares. Based on an average daily trading volume, of 3,560,000 shares, the days-to-cover ratio is presently 4.4 days. Currently, 12.2% of the company's shares are sold short.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Evercore ISI dropped their target price on Enphase Energy from $133.00 to $125.00 and set an "outperform" rating for the company in a report on Wednesday, October 23rd. Canaccord Genuity Group reissued a "hold" rating and set a $76.00 price objective on shares of Enphase Energy in a research note on Tuesday. Canaccord Genuity Group downgraded shares of Enphase Energy from a "buy" rating to a "hold" rating in a research note on Wednesday, October 23rd. Piper Sandler lowered their price target on shares of Enphase Energy from $105.00 to $85.00 and set a "neutral" rating for the company in a report on Wednesday, October 23rd. Finally, Barclays cut their price target on shares of Enphase Energy from $129.00 to $114.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Four investment 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 data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $102.09.

Enphase Energy Stock Down 1.7 %

Shares of ENPH stock traded down $1.04 during trading hours on Tuesday, hitting $61.36. 4,267,230 shares of the company's stock traded hands, compared to its average volume of 4,059,324. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. The stock has a market cap of $8.29 billion, a price-to-earnings ratio of 139.45, a PEG ratio of 18.32 and a beta of 1.77. The stock's fifty day simple moving average is $94.46 and its two-hundred day simple moving average is $107.46. Enphase Energy has a 12-month low of $58.33 and a 12-month high of $141.63.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.12). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The company had revenue of $380.90 million for the quarter, compared to analysts' expectations of $392.51 million. During the same quarter in the previous year, the firm posted $0.84 EPS. The firm's quarterly revenue was down 30.9% compared to the same quarter last year. On average, analysts expect that Enphase Energy will post 0.91 EPS for the current year.

Institutional Trading of Enphase Energy

Several institutional investors have recently bought and sold shares of ENPH. M&G Plc purchased a new stake in shares of Enphase Energy during the first quarter valued at approximately $7,244,000. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Enphase Energy by 25.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 257,883 shares of the semiconductor company's stock valued at $31,197,000 after purchasing an additional 53,041 shares in the last quarter. Seven Eight Capital LP lifted its holdings in shares of Enphase Energy by 61.2% during the first quarter. Seven Eight Capital LP now owns 14,971 shares of the semiconductor company's stock valued at $1,811,000 after purchasing an additional 5,681 shares in the last quarter. Clearbridge Investments LLC purchased a new stake in shares of Enphase Energy during the first quarter valued at $12,624,000. Finally, UniSuper Management Pty Ltd increased its holdings in Enphase Energy by 1.2% in the 1st quarter. UniSuper Management Pty Ltd now owns 637,331 shares of the semiconductor company's stock worth $77,104,000 after buying an additional 7,423 shares in the last quarter. 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.