Short Interest in Enphase Energy Inc (NASDAQ:ENPH) Decreases By 8.3%

Enphase Energy Inc (NASDAQ:ENPH) saw a significant decline in short interest in July. As of July 31st, there was short interest totalling 12,096,400 shares, a decline of 8.3% from the June 30th total of 13,195,000 shares. Approximately 17.2% of the shares of the stock are short sold. Based on an average trading volume of 4,010,000 shares, the short-interest ratio is currently 3.0 days.

ENPH has been the subject of several recent analyst reports. Craig Hallum set a $31.00 price objective on shares of Enphase Energy and gave the company a “buy” rating in a research note on Wednesday, July 31st. Roth Capital boosted their price target on shares of Enphase Energy from $17.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Oppenheimer boosted their price target on shares of Enphase Energy from $13.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. TheStreet raised shares of Enphase Energy from a “c” rating to a “b-” rating in a research note on Tuesday, May 21st. Finally, Zacks Investment Research raised shares of Enphase Energy from a “hold” rating to a “strong-buy” rating and set a $23.00 price target for the company in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $32.25.

ENPH stock traded down $0.44 during midday trading on Thursday, reaching $29.78. The company had a trading volume of 3,381,052 shares, compared to its average volume of 3,025,738. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.44 and a quick ratio of 2.30. Enphase Energy has a 1 year low of $3.70 and a 1 year high of $32.80. The company has a market capitalization of $3.63 billion, a P/E ratio of -248.17 and a beta of 1.01. The firm has a 50-day moving average price of $23.14 and a 200-day moving average price of $14.41.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.09. Enphase Energy had a net margin of 2.63% and a return on equity of 31.17%. The company had revenue of $134.09 million during the quarter, compared to analysts’ expectations of $120.36 million. During the same quarter in the prior year, the company earned $0.02 EPS. The firm’s revenue was up 76.7% on a year-over-year basis. On average, equities analysts predict that Enphase Energy will post 0.54 EPS for the current year.

Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in Enphase Energy by 18.7% during the fourth quarter. Bank of New York Mellon Corp now owns 378,003 shares of the semiconductor company’s stock worth $1,788,000 after purchasing an additional 59,534 shares during the period. Northern Trust Corp raised its stake in shares of Enphase Energy by 0.3% in the fourth quarter. Northern Trust Corp now owns 930,434 shares of the semiconductor company’s stock valued at $4,402,000 after acquiring an additional 2,423 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Enphase Energy by 9.8% in the fourth quarter. Geode Capital Management LLC now owns 896,172 shares of the semiconductor company’s stock valued at $4,238,000 after acquiring an additional 79,874 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Enphase Energy by 89.4% in the fourth quarter. Bank of America Corp DE now owns 134,824 shares of the semiconductor company’s stock valued at $639,000 after acquiring an additional 63,640 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of Enphase Energy by 356.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 30,033 shares of the semiconductor company’s stock valued at $142,000 after acquiring an additional 23,456 shares during the last quarter. 43.65% of the stock is owned by 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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