Enphase Energy Inc (NASDAQ:ENPH) was the recipient of a large decrease in short interest in January. As of January 31st, there was short interest totalling 23,756,542 shares, a decrease of 6.3% from the January 15th total of 25,356,675 shares. Currently, 33.2% of the company’s shares are sold short. Based on an average daily trading volume, of 2,155,547 shares, the short-interest ratio is presently 11.0 days.
A number of equities analysts have issued reports on ENPH shares. ValuEngine upgraded Enphase Energy from a “hold” rating to a “buy” rating in a report on Monday, February 4th. HC Wainwright set a $9.00 price target on Enphase Energy and gave the stock a “buy” rating in a report on Tuesday, January 29th. B. Riley set a $8.00 price target on Enphase Energy and gave the stock a “buy” rating in a report on Wednesday, November 7th. BidaskClub upgraded Enphase Energy from a “hold” rating to a “buy” rating in a report on Thursday, January 10th. Finally, TheStreet upgraded Enphase Energy from a “d+” rating to a “c-” rating in a report on Wednesday, November 28th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $7.21.
Enphase Energy stock opened at $7.68 on Thursday. The company has a market cap of $808.05 million, a price-to-earnings ratio of -14.22 and a beta of 1.39. Enphase Energy has a 52-week low of $2.37 and a 52-week high of $7.94. The company has a current ratio of 1.55, a quick ratio of 1.42 and a debt-to-equity ratio of 21.18.
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About Enphase Energy
Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells microinverter systems for residential and commercial markets in the United States and internationally. The company's semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity at the individual solar module level.
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