Enphase Energy, Inc. (NASDAQ:ENPH) Short Interest Up 5.8% in July

Enphase Energy, Inc. (NASDAQ:ENPH) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 15,400,000 shares, a growth of 5.8% from the July 15th total of 14,550,000 shares. Currently, 11.8% of the company’s shares are sold short. Based on an average daily trading volume, of 4,070,000 shares, the days-to-cover ratio is presently 3.8 days.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Glj Research assumed coverage on Enphase Energy in a research report on Tuesday, June 25th. They set a “sell” rating and a $45.82 target price for the company. Canaccord Genuity Group decreased their price objective on Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Roth Mkm restated a “buy” rating and issued a $140.00 price objective on shares of Enphase Energy in a report on Wednesday, July 24th. BNP Paribas upgraded Enphase Energy from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $120.00 to $144.00 in a report on Wednesday, August 7th. Finally, BMO Capital Markets lifted their price objective on Enphase Energy from $110.00 to $115.00 and gave the company a “market perform” rating in a report on Wednesday, July 24th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $128.96.

Insiders Place Their Bets

In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction on Monday, June 17th. The shares were sold at an average price of $123.27, for a total transaction of $616,350.00. Following the completion of the transaction, the executive vice president now directly owns 107,943 shares of the company’s stock, valued at $13,306,133.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Thurman J. Rodgers sold 319,526 shares of Enphase Energy stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $126.53, for a total transaction of $40,429,624.78. Following the completion of the sale, the director now directly owns 1,984,562 shares in the company, valued at $251,106,629.86. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction on Monday, June 17th. The stock was sold at an average price of $123.27, for a total value of $616,350.00. Following the sale, the executive vice president now owns 107,943 shares of the company’s stock, valued at $13,306,133.61. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Doheny Asset Management CA acquired a new position in Enphase Energy in the second quarter valued at approximately $8,095,000. Duff & Phelps Investment Management Co. lifted its holdings in Enphase Energy by 12.2% in the second quarter. Duff & Phelps Investment Management Co. now owns 15,949 shares of the semiconductor company’s stock valued at $1,590,000 after acquiring an additional 1,737 shares during the period. Sender Co & Partners Inc. acquired a new position in Enphase Energy in the second quarter valued at approximately $254,000. The Manufacturers Life Insurance Company lifted its holdings in Enphase Energy by 5.9% in the second quarter. The Manufacturers Life Insurance Company now owns 107,512 shares of the semiconductor company’s stock valued at $10,725,000 after acquiring an additional 6,003 shares during the period. Finally, MBB Public Markets I LLC acquired a new position in Enphase Energy in the second quarter valued at approximately $983,000. 72.12% of the stock is owned by institutional investors and hedge funds.

Enphase Energy Stock Performance

NASDAQ ENPH traded down $0.73 during trading hours on Friday, reaching $116.39. The stock had a trading volume of 1,396,506 shares, compared to its average volume of 4,066,655. The stock has a fifty day moving average of $110.74 and a 200 day moving average of $115.50. The stock has a market cap of $15.84 billion, a P/E ratio of 60.62, a price-to-earnings-growth ratio of 5.59 and a beta of 1.71. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $141.63. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The firm had revenue of $303.80 million during the quarter, compared to analysts’ expectations of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. Enphase Energy’s quarterly revenue was down 57.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 EPS. Sell-side analysts predict that Enphase Energy will post 1.24 earnings per share for the current year.

Enphase Energy Company Profile

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.