Enphase Energy, Inc. (NASDAQ:ENPH) Short Interest Up 31.3% in November

Enphase Energy, Inc. (NASDAQ:ENPH) was the target of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 20,790,000 shares, an increase of 31.3% from the October 31st total of 15,840,000 shares. Based on an average daily volume of 4,330,000 shares, the short-interest ratio is currently 4.8 days. Approximately 16.0% of the shares of the company are short sold.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Guggenheim downgraded Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price objective for the company. in a research note on Wednesday, October 23rd. William Blair began coverage on shares of Enphase Energy in a report on Thursday, August 29th. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. reduced their target price on shares of Enphase Energy from $130.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Piper Sandler dropped their price target 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, Jefferies Financial Group downgraded Enphase Energy from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $93.00 to $61.00 in a research report on Thursday, November 7th. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Enphase Energy presently has a consensus rating of “Hold” and an average target price of $101.13.

Enphase Energy Stock Performance

Enphase Energy stock opened at $71.35 on Monday. 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 company has a market cap of $9.64 billion, a P/E ratio of 162.16, a price-to-earnings-growth ratio of 21.09 and a beta of 1.77. Enphase Energy has a fifty-two week low of $58.33 and a fifty-two week high of $141.63. The firm’s 50 day simple moving average is $86.46 and its 200-day simple moving average is $104.68.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.12). The firm had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The company’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 earnings per share. As a group, equities research analysts predict that Enphase Energy will post 0.94 EPS for the current year.

Institutional Investors Weigh In On Enphase Energy

Several hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. acquired a new position in shares of Enphase Energy in the 3rd quarter valued at about $1,273,000. Charles Schwab Investment Management Inc. increased its stake in Enphase Energy by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 880,340 shares of the semiconductor company’s stock valued at $99,496,000 after buying an additional 16,234 shares during the period. Mizuho Securities USA LLC lifted its position in Enphase Energy by 4,177.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock worth $50,737,000 after buying an additional 438,424 shares in the last quarter. Impax Asset Management Group plc boosted its stake in shares of Enphase Energy by 15.9% during the 3rd quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock valued at $25,555,000 after buying an additional 31,008 shares during the period. Finally, Swedbank AB grew its holdings in shares of Enphase Energy by 0.3% during the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after acquiring an additional 11,890 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

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.