Enphase Energy (NASDAQ:ENPH) Shares Gap Up After Analyst Upgrade

Enphase Energy, Inc. (NASDAQ:ENPHGet Free Report)’s stock price gapped up prior to trading on Wednesday after Barclays raised their price target on the stock from $106.00 to $115.00. The stock had previously closed at $100.51, but opened at $119.54. Barclays currently has an equal weight rating on the stock. Enphase Energy shares last traded at $115.43, with a volume of 4,656,913 shares changing hands.

A number of other research firms have also issued reports on ENPH. Jefferies Financial Group began coverage on Enphase Energy in a report on Friday, December 15th. They set a “buy” rating and a $121.00 target price on the stock. Canaccord Genuity Group began coverage on Enphase Energy in a report on Tuesday, January 16th. They set a “buy” rating and a $142.00 target price on the stock. StockNews.com lowered Enphase Energy from a “hold” rating to a “sell” rating in a report on Wednesday. Morgan Stanley increased their price target on Enphase Energy from $97.00 to $106.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Oppenheimer upgraded Enphase Energy from a “market perform” rating to an “outperform” rating and set a $133.00 price target for the company in a research report on Wednesday. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $158.23.

View Our Latest Stock Report on ENPH

Insider Activity

In other news, CEO Badrinarayanan Kothandaraman purchased 1,118 shares of Enphase Energy stock in a transaction dated Thursday, November 16th. The stock was acquired at an average cost of $90.23 per share, for a total transaction of $100,877.14. Following the acquisition, the chief executive officer now directly owns 1,272,015 shares in the company, valued at $114,773,913.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. raised its stake in shares of Enphase Energy by 1,400.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 150 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 140 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Enphase Energy by 278.0% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 155 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 114 shares in the last quarter. Bogart Wealth LLC bought a new position in shares of Enphase Energy in the 4th quarter valued at approximately $26,000. KB Financial Partners LLC bought a new position in shares of Enphase Energy in the 1st quarter valued at approximately $28,000. Finally, First Capital Advisors Group LLC. bought a new position in shares of Enphase Energy in the 2nd quarter valued at approximately $28,000. 71.05% of the stock is owned by institutional investors.

Enphase Energy Price Performance

The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.13 and a current ratio of 3.36. The stock has a 50 day moving average of $115.08 and a two-hundred day moving average of $116.52. The firm has a market capitalization of $15.96 billion, a P/E ratio of 38.20, a P/E/G ratio of 2.65 and a beta of 1.48.

About Enphase Energy

(Get Free Report)

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 services.

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