Enphase Energy Inc (NASDAQ:ENPH) was the recipient of a large decline in short interest in January. As of January 31st, there was short interest totalling 23,756,542 shares, a decline of 6.3% from the January 15th total of 25,356,675 shares. Based on an average trading volume of 2,155,547 shares, the days-to-cover ratio is currently 11.0 days. Approximately 33.2% of the company’s stock are short sold.
NASDAQ ENPH opened at $7.73 on Tuesday. The company has a debt-to-equity ratio of 21.18, a current ratio of 1.55 and a quick ratio of 1.42. The company has a market cap of $791.02 million, a P/E ratio of -14.33 and a beta of 1.39. Enphase Energy has a 52 week low of $2.32 and a 52 week high of $7.78.
Several research analysts recently commented on the stock. B. Riley set a $8.00 price objective on shares of Enphase Energy and gave the stock a “buy” rating in a research note on Wednesday, November 7th. BidaskClub lowered shares of Enphase Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, December 25th. HC Wainwright set a $9.00 price objective on shares of Enphase Energy and gave the stock a “buy” rating in a research note on Tuesday, January 29th. ValuEngine upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Finally, TheStreet upgraded shares of Enphase Energy from a “d+” rating to a “c-” rating in a research note on Wednesday, November 28th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Enphase Energy presently has a consensus rating of “Buy” and a consensus price target of $7.21.
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About Enphase Energy
Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells microinverter systems for residential and commercial markets in the United States and internationally. The company's semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity at the individual solar module level.
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