Enphase Energy Inc (NASDAQ:ENPH) was the recipient of a large increase in short interest during the month of November. As of November 29th, there was short interest totalling 24,530,000 shares, an increase of 20.1% from the November 14th total of 20,420,000 shares. Approximately 29.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 5,570,000 shares, the short-interest ratio is currently 4.4 days.
In other news, COO Jeff Mcneil sold 7,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $20.02, for a total value of $140,140.00. Following the sale, the chief operating officer now directly owns 305,038 shares in the company, valued at approximately $6,106,860.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Mandy Yang sold 10,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $19.07, for a total transaction of $190,700.00. Following the completion of the sale, the chief accounting officer now owns 164,257 shares in the company, valued at $3,132,380.99. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,000 shares of company stock worth $942,965. Insiders own 12.46% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in ENPH. Aperio Group LLC purchased a new stake in Enphase Energy in the 2nd quarter valued at about $26,000. Ladenburg Thalmann Financial Services Inc. boosted its position in Enphase Energy by 607.5% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,830 shares of the semiconductor company’s stock valued at $51,000 after buying an additional 2,430 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in Enphase Energy in the 2nd quarter valued at about $54,000. Gradient Investments LLC purchased a new stake in Enphase Energy in the 3rd quarter valued at about $60,000. Finally, Russell Investments Group Ltd. purchased a new stake in Enphase Energy in the 3rd quarter valued at about $67,000. 44.72% of the stock is owned by hedge funds and other institutional investors.
Shares of ENPH stock traded up $0.94 during trading hours on Friday, reaching $24.62. 6,432,308 shares of the stock were exchanged, compared to its average volume of 4,959,324. Enphase Energy has a 12-month low of $4.53 and a 12-month high of $35.42. The company has a current ratio of 2.67, a quick ratio of 2.46 and a debt-to-equity ratio of 0.66. The company’s 50-day moving average price is $21.17 and its 200-day moving average price is $22.75. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 71.21 and a beta of 0.94.
Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. Enphase Energy had a net margin of 8.92% and a return on equity of 62.77%. The firm had revenue of $180.06 million during the quarter, compared to analysts’ expectations of $176.49 million. During the same period in the previous year, the company earned $0.04 EPS. The firm’s revenue for the quarter was up 130.8% compared to the same quarter last year. On average, sell-side analysts expect that Enphase Energy will post 0.61 EPS for the current year.
A number of analysts have recently weighed in on ENPH shares. Northland Securities set a $40.00 target price on shares of Enphase Energy and gave the stock a “buy” rating in a report on Wednesday, October 9th. Roth Capital set a $30.00 target price on shares of Enphase Energy and gave the stock a “buy” rating in a report on Friday, October 25th. ValuEngine downgraded shares of Enphase Energy from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Zacks Investment Research cut shares of Enphase Energy from a “buy” rating to a “hold” rating and set a $26.00 price target for the company. in a research note on Tuesday, October 1st. Finally, BidaskClub raised shares of Enphase Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. Enphase Energy presently has a consensus rating of “Buy” and an average price target of $34.29.
About Enphase Energy
Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that 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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