Enphase Energy Inc (NASDAQ:ENPH) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totalling 12,956,800 shares, a drop of 12.9% from the May 30th total of 14,867,500 shares. Based on an average daily volume of 3,140,000 shares, the short-interest ratio is presently 4.1 days. Currently, 18.4% of the shares of the stock are sold short.

In related news, VP David A. Ranhoff sold 63,516 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $14.62, for a total value of $928,603.92. Following the completion of the sale, the vice president now owns 790,517 shares of the company’s stock, valued at $11,557,358.54. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 12.46% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. boosted its position in shares of Enphase Energy by 24.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 12,605 shares of the semiconductor company’s stock worth $60,000 after purchasing an additional 2,500 shares in the last quarter. LPL Financial LLC bought a new stake in Enphase Energy in the 4th quarter valued at $66,000. CoreCommodity Management LLC lifted its position in Enphase Energy by 27.2% in the 4th quarter. CoreCommodity Management LLC now owns 24,381 shares of the semiconductor company’s stock valued at $115,000 after acquiring an additional 5,214 shares in the last quarter. Cambridge Trust Co. bought a new stake in Enphase Energy in the 1st quarter valued at $115,000. Finally, SG Americas Securities LLC bought a new stake in Enphase Energy in the 1st quarter valued at $124,000. 48.41% of the stock is currently owned by institutional investors.

ENPH has been the subject of a number of analyst reports. HC Wainwright set a $35.00 target price on shares of Stemline Therapeutics and gave the stock a “buy” rating in a report on Thursday, June 20th. Raymond James reaffirmed a “buy” rating on shares of Cineplex in a report on Tuesday, March 19th. Zacks Investment Research raised shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a report on Monday, July 8th. Credit Suisse Group set a $155.00 target price on shares of Allergan and gave the stock a “hold” rating in a report on Monday, March 25th. Finally, BidaskClub lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $16.69.

Shares of NASDAQ ENPH traded up $0.19 during midday trading on Friday, reaching $19.67. 3,275,458 shares of the stock were exchanged, compared to its average volume of 3,322,132. The business’s 50-day moving average is $17.37. The stock has a market capitalization of $2.15 billion, a P/E ratio of -163.92 and a beta of 0.92. Enphase Energy has a 12 month low of $3.70 and a 12 month high of $20.67. The company has a quick ratio of 1.42, a current ratio of 1.52 and a debt-to-equity ratio of 4.63.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $100.15 million for the quarter, compared to the consensus estimate of $92.26 million. The company’s revenue for the quarter was up 43.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.01) earnings per share. Equities research analysts anticipate that Enphase Energy will post 0.35 earnings per share for the current year.

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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