Enphase Energy, Inc. (NASDAQ:ENPH) Sees Significant Decrease in Short Interest

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) saw a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 15,090,000 shares, a decline of 17.6% from the March 31st total of 18,320,000 shares. Currently, 12.0% of the company's shares are sold short. Based on an average daily volume of 4,590,000 shares, the short-interest ratio is presently 3.3 days.

Insider Transactions at Enphase Energy

In other news, CFO Mandy Yang sold 1,319 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $63.32, for a total value of $83,519.08. Following the completion of the sale, the chief financial officer now owns 78,524 shares of the company's stock, valued at approximately $4,972,139.68. This represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the completion of the transaction, the director now directly owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. This represents a 5.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ENPH. CX Institutional bought a new stake in shares of Enphase Energy in the first quarter valued at approximately $29,000. First Horizon Advisors Inc. lifted its position in shares of Enphase Energy by 83.0% during the first quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock worth $35,000 after acquiring an additional 258 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Enphase Energy by 318.1% in the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company's stock worth $46,000 after acquiring an additional 509 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Enphase Energy in the fourth quarter valued at $47,000. Finally, GeoWealth Management LLC raised its stake in shares of Enphase Energy by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company's stock valued at $61,000 after purchasing an additional 321 shares during the period. Institutional investors own 72.12% of the company's stock.

Enphase Energy Stock Performance

ENPH traded up $1.01 during trading on Friday, hitting $45.56. 4,094,656 shares of the company traded hands, compared to its average volume of 4,043,869. The firm has a market cap of $5.98 billion, a P/E ratio of 61.57 and a beta of 1.94. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. Enphase Energy has a one year low of $43.80 and a one year high of $141.63. The stock's fifty day moving average is $55.85 and its 200 day moving average is $65.05.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. As a group, equities analysts predict that Enphase Energy will post 2.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. TD Cowen cut their price target on shares of Enphase Energy from $78.00 to $58.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Oppenheimer set a $84.00 target price on Enphase Energy and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. BMO Capital Markets lowered their target price on Enphase Energy from $59.00 to $46.00 and set a "market perform" rating for the company in a report on Wednesday, April 23rd. Susquehanna cut their price target on Enphase Energy from $59.00 to $51.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Finally, Barclays lowered their price objective on shares of Enphase Energy from $58.00 to $51.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Seven equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Enphase Energy has an average rating of "Hold" and an average target price of $70.54.

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.