Enphase Energy, Inc. (NASDAQ:ENPH) Short Interest Up 12.1% in May

Enphase Energy, Inc. (NASDAQ:ENPH) saw a significant growth in short interest in May. As of May 31st, there was short interest totalling 13,440,000 shares, a growth of 12.1% from the May 15th total of 11,990,000 shares. Based on an average daily volume of 3,830,000 shares, the short-interest ratio is presently 3.5 days. Approximately 10.3% of the company’s shares are sold short.

Insiders Place Their Bets

In related news, Director Thurman J. Rodgers sold 319,526 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $126.53, for a total transaction of $40,429,624.78. Following the completion of the transaction, the director now owns 1,984,562 shares in the company, valued at $251,106,629.86. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Enphase Energy news, Director Thurman J. Rodgers sold 319,526 shares of Enphase Energy stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $126.53, for a total value of $40,429,624.78. Following the transaction, the director now directly owns 1,984,562 shares in the company, valued at approximately $251,106,629.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $116.29, for a total transaction of $581,450.00. Following the transaction, the executive vice president now owns 119,948 shares in the company, valued at $13,948,752.92. The disclosure for this sale can be found here. Insiders have sold 344,526 shares of company stock worth $43,104,875 over the last ninety days. Corporate insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

A number of hedge funds have recently bought and sold shares of ENPH. Baillie Gifford & Co. lifted its position in Enphase Energy by 387,343.1% during the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after purchasing an additional 4,078,723 shares during the period. Swedbank AB purchased a new position in shares of Enphase Energy during the 1st quarter worth $424,130,000. Norges Bank purchased a new stake in shares of Enphase Energy in the 4th quarter worth $149,425,000. Nordea Investment Management AB raised its holdings in Enphase Energy by 158.8% in the 4th quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock worth $109,083,000 after purchasing an additional 501,385 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in Enphase Energy during the first quarter valued at $59,128,000. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Down 3.9 %

Shares of NASDAQ:ENPH traded down $5.11 during midday trading on Friday, reaching $124.61. The company’s stock had a trading volume of 3,054,976 shares, compared to its average volume of 3,597,065. The firm has a market capitalization of $16.95 billion, a P/E ratio of 64.90, a PEG ratio of 4.80 and a beta of 1.77. The company has a quick ratio of 3.78, a current ratio of 4.16 and a debt-to-equity ratio of 1.30. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $192.22. The firm has a 50 day moving average of $118.13 and a 200-day moving average of $117.82.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, April 23rd. The semiconductor company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.17). The company had revenue of $263.34 million during the quarter, compared to analysts’ expectations of $280.06 million. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. On average, research analysts anticipate that Enphase Energy will post 1.53 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on ENPH. Guggenheim lowered Enphase Energy from a “neutral” rating to a “sell” rating and set a $92.00 price target on the stock. in a research report on Wednesday, April 24th. Piper Sandler reissued a “neutral” rating and set a $111.00 target price (down from $113.00) on shares of Enphase Energy in a research note on Wednesday, April 24th. Royal Bank of Canada lowered their price target on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. Roth Mkm reissued a “buy” rating and set a $140.00 target price on shares of Enphase Energy in a report on Wednesday, April 24th. Finally, Canaccord Genuity Group raised their price objective on shares of Enphase Energy from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $136.68.

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.