Enphase Energy, Inc. (NASDAQ:ENPH) Sees Large Growth in Short Interest

Enphase Energy, Inc. (NASDAQ:ENPHGet Free Report) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 25,404,624 shares, a growth of 21.6% from the March 15th total of 20,886,651 shares. Currently, 19.9% of the company’s stock are sold short. Based on an average daily trading volume, of 4,998,912 shares, the short-interest ratio is presently 5.1 days.

Insider Buying and Selling

In related news, Director Richard Mora sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $52.05, for a total transaction of $57,255.00. Following the completion of the transaction, the director owned 9,370 shares of the company’s stock, valued at $487,708.50. This trade represents a 10.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the stock in a transaction on Thursday, February 5th. The shares were bought at an average price of $51.98 per share, with a total value of $259,900.00. Following the purchase, the chief executive officer directly owned 1,640,632 shares of the company’s stock, valued at $85,280,051.36. The trade was a 0.31% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Enphase Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PFG Investments LLC raised its stake in Enphase Energy by 2.2% during the 4th quarter. PFG Investments LLC now owns 12,191 shares of the semiconductor company’s stock valued at $391,000 after buying an additional 260 shares during the last quarter. Swiss Life Asset Management Ltd boosted its stake in shares of Enphase Energy by 5.5% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 6,132 shares of the semiconductor company’s stock worth $217,000 after buying an additional 319 shares during the last quarter. Glass Jacobson Investment Advisors llc boosted its stake in shares of Enphase Energy by 77.8% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock worth $26,000 after buying an additional 350 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Enphase Energy by 19.2% in the fourth quarter. GAMMA Investing LLC now owns 2,431 shares of the semiconductor company’s stock worth $78,000 after acquiring an additional 392 shares during the period. Finally, Tempus Wealth Planning LLC grew its holdings in shares of Enphase Energy by 4.8% in the third quarter. Tempus Wealth Planning LLC now owns 8,556 shares of the semiconductor company’s stock worth $303,000 after acquiring an additional 394 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Trading Down 0.7%

Enphase Energy stock opened at $31.96 on Friday. Enphase Energy has a one year low of $25.77 and a one year high of $54.72. The business’s fifty day moving average is $41.34 and its 200 day moving average is $36.42. The stock has a market capitalization of $4.21 billion, a PE ratio of 24.78 and a beta of 1.39. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.07 and a quick ratio of 1.84.

Enphase Energy (NASDAQ:ENPHGet Free Report) last issued its earnings results on Tuesday, February 3rd. The semiconductor company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.19. The business had revenue of $343.32 million during the quarter, compared to analyst estimates of $340.45 million. Enphase Energy had a return on equity of 20.31% and a net margin of 11.69%.Enphase Energy’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 EPS. On average, sell-side analysts predict that Enphase Energy will post 2.08 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ENPH shares. Royal Bank Of Canada raised Enphase Energy from a “sector perform” rating to an “outperform” rating and set a $54.00 price target for the company in a research report on Wednesday, February 4th. Oppenheimer increased their price objective on shares of Enphase Energy from $67.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Enphase Energy in a report on Thursday, January 22nd. Citigroup upped their target price on shares of Enphase Energy from $37.00 to $41.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Finally, JPMorgan Chase & Co. increased their price target on shares of Enphase Energy from $33.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Ten analysts have rated the stock with a Buy rating, twelve have given a Hold rating and nine have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Enphase Energy currently has an average rating of “Hold” and an average price target of $42.70.

View Our Latest Stock Report on ENPH

Enphase Energy News Summary

Here are the key news stories impacting Enphase Energy this week:

About Enphase Energy

(Get Free Report)

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.

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