Enphase Energy, Inc. (NASDAQ:ENPH – Get Rating) was the target of a large decrease in short interest in December. As of December 15th, there was short interest totalling 4,490,000 shares, a decrease of 11.3% from the November 30th total of 5,060,000 shares. Currently, 3.4% of the company’s shares are short sold. Based on an average trading volume of 3,770,000 shares, the days-to-cover ratio is currently 1.2 days.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on ENPH. Deutsche Bank Aktiengesellschaft began coverage on shares of Enphase Energy in a research report on Monday, November 14th. They issued a “buy” rating and a $330.00 target price for the company. Truist Financial increased their target price on shares of Enphase Energy from $265.00 to $290.00 and gave the stock a “buy” rating in a research report on Tuesday, October 18th. JPMorgan Chase & Co. cut their target price on shares of Enphase Energy from $321.00 to $289.00 and set an “overweight” rating for the company in a research report on Thursday, October 20th. Wells Fargo & Company increased their target price on shares of Enphase Energy from $302.00 to $344.00 and gave the stock an “overweight” rating in a research report on Friday, October 28th. Finally, Guggenheim lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating in a research note on Friday, September 9th. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $307.83.
Enphase Energy Trading Down 0.2 %
ENPH opened at $264.96 on Monday. The company has a current ratio of 3.60, a quick ratio of 3.34 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $36.01 billion, a PE ratio of 127.39, a PEG ratio of 1.76 and a beta of 1.30. Enphase Energy has a 1-year low of $113.40 and a 1-year high of $339.92. The firm has a 50-day moving average price of $302.17 and a two-hundred day moving average price of $273.08.
Enphase Energy (NASDAQ:ENPH – Get Rating) last posted its quarterly earnings data on Tuesday, October 25th. The semiconductor company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.11. The firm had revenue of $634.71 million during the quarter, compared to analysts’ expectations of $616.50 million. Enphase Energy had a net margin of 14.67% and a return on equity of 76.66%. As a group, equities analysts anticipate that Enphase Energy will post 3.18 earnings per share for the current fiscal year.
Insider Activity at Enphase Energy
In related news, CEO Badrinarayanan Kothandaraman sold 82,347 shares of the company’s stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $317.48, for a total value of $26,143,525.56. Following the completion of the sale, the chief executive officer now owns 1,167,786 shares in the company, valued at approximately $370,748,699.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Mandy Yang sold 9,454 shares of the company’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $297.54, for a total value of $2,812,943.16. Following the completion of the sale, the chief financial officer now owns 88,399 shares in the company, valued at approximately $26,302,238.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Badrinarayanan Kothandaraman sold 82,347 shares of the company’s stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $317.48, for a total transaction of $26,143,525.56. Following the completion of the sale, the chief executive officer now owns 1,167,786 shares of the company’s stock, valued at approximately $370,748,699.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 201,128 shares of company stock worth $63,385,815. 4.80% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Enphase Energy
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thompson Siegel & Walmsley LLC acquired a new stake in Enphase Energy in the 3rd quarter valued at about $28,000. Hanseatic Management Services Inc. acquired a new stake in shares of Enphase Energy during the 3rd quarter worth approximately $34,000. Elequin Capital LP acquired a new stake in shares of Enphase Energy during the 1st quarter worth approximately $26,000. GHP Investment Advisors Inc. acquired a new stake in shares of Enphase Energy during the 2nd quarter worth approximately $26,000. Finally, Private Trust Co. NA grew its position in shares of Enphase Energy by 294.1% during the 3rd quarter. Private Trust Co. NA now owns 134 shares of the semiconductor company’s stock worth $37,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 73.79% of the company’s stock.
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 services.
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