Enphase Energy Inc (NASDAQ:ENPH) saw a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 12,956,800 shares, a decrease of 12.9% from the May 30th total of 14,867,500 shares. Currently, 18.4% of the shares of the stock are sold short. Based on an average daily volume of 3,140,000 shares, the short-interest ratio is presently 4.1 days.
NASDAQ ENPH traded up $0.19 during trading hours on Friday, reaching $19.67. 3,275,458 shares of the company’s stock were exchanged, compared to its average volume of 3,322,132. The company has a market cap of $2.17 billion, a PE ratio of -163.92 and a beta of 0.92. Enphase Energy has a one year low of $3.70 and a one year high of $20.67. The business’s fifty day simple moving average is $17.37. The company has a debt-to-equity ratio of 4.63, a quick ratio of 1.42 and a current ratio of 1.52.
Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.03. The business had revenue of $100.15 million for the quarter, compared to the consensus estimate of $92.26 million. The firm’s revenue was up 43.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.01) earnings per share. On average, equities analysts forecast that Enphase Energy will post 0.35 earnings per share for the current fiscal year.
Several equities research analysts have recently weighed in on ENPH shares. TheStreet lowered Unit from a “c-” rating to a “d+” rating in a research note on Tuesday, May 21st. B. Riley reiterated a “buy” rating and issued a $21.00 price objective on shares of Enphase Energy in a research note on Wednesday, June 12th. Credit Suisse Group set a $155.00 price objective on Allergan and gave the company a “hold” rating in a research note on Monday, March 25th. HC Wainwright set a $35.00 price target on Stemline Therapeutics and gave the stock a “buy” rating in a research report on Thursday, June 20th. Finally, Roth Capital set a $14.00 price target on Enphase Energy and gave the stock a “buy” rating in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $16.69.
In other news, VP David A. Ranhoff sold 63,516 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $14.62, for a total value of $928,603.92. Following the sale, the vice president now directly owns 790,517 shares in the company, valued at approximately $11,557,358.54. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 12.46% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gilder Gagnon Howe & Co. LLC raised its position in shares of Enphase Energy by 30.5% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 4,514,342 shares of the semiconductor company’s stock valued at $41,667,000 after buying an additional 1,053,833 shares in the last quarter. EAM Global Investors LLC acquired a new stake in shares of Enphase Energy in the first quarter valued at approximately $1,806,000. Ibex Investors LLC acquired a new stake in shares of Enphase Energy in the first quarter valued at approximately $182,000. Stephens Inc. AR acquired a new stake in shares of Enphase Energy in the first quarter valued at approximately $216,000. Finally, Rhumbline Advisers raised its position in shares of Enphase Energy by 0.8% in the first quarter. Rhumbline Advisers now owns 126,367 shares of the semiconductor company’s stock valued at $1,166,000 after buying an additional 1,052 shares in the last quarter. Institutional investors and hedge funds own 48.41% of the company’s stock.
Enphase Energy Company Profile
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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