Short Interest in Enphase Energy, Inc. (NASDAQ:ENPH) Declines By 7.9%

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) was the target of a large decline in short interest in November. As of November 30th, there was short interest totalling 19,140,000 shares, a decline of 7.9% from the November 15th total of 20,790,000 shares. Based on an average trading volume of 4,500,000 shares, the short-interest ratio is currently 4.3 days. Approximately 14.8% of the shares of the stock are short sold.

Enphase Energy Trading Down 3.0 %

Shares of Enphase Energy stock traded down $2.22 during trading on Monday, hitting $71.62. 2,931,550 shares of the company were exchanged, compared to its average volume of 4,021,060. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. The firm has a market capitalization of $9.68 billion, a P/E ratio of 167.82, a price-to-earnings-growth ratio of 22.03 and a beta of 1.69. The firm's fifty day moving average price is $78.75 and its 200 day moving average price is $101.33. Enphase Energy has a 1-year low of $58.33 and a 1-year high of $141.63.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued 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 firm had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. During the same quarter in the prior year, the firm posted $0.84 EPS. The firm's revenue for the quarter was down 30.9% compared to the same quarter last year. As a group, sell-side analysts expect that Enphase Energy will post 0.94 earnings per share for the current fiscal year.

Institutional Trading of Enphase Energy

A number of large investors have recently made changes to their positions in the company. Peapack Gladstone Financial Corp acquired a new position in Enphase Energy in the third quarter valued at about $292,000. Tidal Investments LLC lifted its holdings in shares of Enphase Energy by 121.4% during the 3rd quarter. Tidal Investments LLC now owns 122,929 shares of the semiconductor company's stock valued at $13,893,000 after purchasing an additional 67,411 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Enphase Energy during the 3rd quarter valued at about $239,000. Coldstream Capital Management Inc. acquired a new position in shares of Enphase Energy in the 3rd quarter valued at approximately $210,000. Finally, Gould Capital LLC increased its stake in Enphase Energy by 2.1% during the 3rd quarter. Gould Capital LLC now owns 10,206 shares of the semiconductor company's stock worth $1,153,000 after purchasing an additional 212 shares in the last quarter. Institutional investors own 72.12% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ENPH shares. Hsbc Global Res lowered Enphase Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 8th. StockNews.com raised Enphase Energy from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. Janney Montgomery Scott lowered Enphase Energy from a "buy" rating to a "neutral" rating and set a $83.00 price objective for the company. in a research note on Wednesday, October 23rd. Piper Sandler reduced their target price on shares of Enphase Energy from $85.00 to $70.00 and set a "neutral" rating on the stock in a research note on Friday, November 22nd. Finally, Raymond James lowered their target price on shares of Enphase Energy from $140.00 to $130.00 and set an "outperform" rating on the stock in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, Enphase Energy presently has an average rating of "Hold" and an average price target of $101.13.

About Enphase Energy

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.