Short Interest in Enphase Energy, Inc. (NASDAQ:ENPH) Rises By 8.0%

Enphase Energy, Inc. (NASDAQ:ENPH) was the recipient of a large growth in short interest in January. As of January 31st, there was short interest totalling 22,220,000 shares, a growth of 8.0% from the January 15th total of 20,570,000 shares. Based on an average daily volume of 4,490,000 shares, the days-to-cover ratio is currently 4.9 days. Currently, 17.2% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

ENPH has been the topic of a number of recent research reports. Janney Montgomery Scott lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research note on Wednesday, October 23rd. Jefferies Financial Group lowered shares of Enphase Energy from a “hold” rating to an “underperform” rating and reduced their price objective for the company from $93.00 to $61.00 in a report on Thursday, November 7th. Raymond James cut their target price on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. BMO Capital Markets lowered their price target on Enphase Energy from $69.00 to $66.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. Finally, BNP Paribas cut shares of Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 price objective on the stock. in a report on Friday, November 8th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Enphase Energy currently has an average rating of “Hold” and an average price target of $90.42.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ENPH. Baillie Gifford & Co. grew its stake in Enphase Energy by 32.0% in the 4th quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock valued at $574,975,000 after acquiring an additional 2,028,691 shares during the last quarter. Invesco Ltd. increased its stake in shares of Enphase Energy by 43.4% during the 4th quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company’s stock worth $313,034,000 after purchasing an additional 1,378,978 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Enphase Energy by 131.6% during the 4th quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock worth $155,360,000 after purchasing an additional 1,258,778 shares during the last quarter. Worldquant Millennium Advisors LLC raised its position in shares of Enphase Energy by 531.4% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 805,791 shares of the semiconductor company’s stock worth $55,342,000 after purchasing an additional 678,163 shares during the last quarter. Finally, Norges Bank purchased a new stake in Enphase Energy in the 4th quarter valued at approximately $46,339,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Price Performance

Enphase Energy stock traded up $1.75 during mid-day trading on Tuesday, reaching $65.69. The company had a trading volume of 4,610,046 shares, compared to its average volume of 3,876,540. The stock’s 50-day simple moving average is $67.36 and its 200-day simple moving average is $86.03. The company has a market capitalization of $8.87 billion, a P/E ratio of 88.77, a P/E/G ratio of 8.78 and a beta of 1.68. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.88. Enphase Energy has a 1 year low of $58.33 and a 1 year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. On average, equities analysts predict that Enphase Energy will post 2.12 EPS for the current year.

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.