Enphase Energy (NASDAQ:ENPH) Sees Large Volume Increase on Analyst Upgrade

Enphase Energy, Inc. (NASDAQ:ENPH) saw unusually-strong trading volume on Wednesday after Oppenheimer raised their price target on the stock from $133.00 to $134.00. Oppenheimer currently has an outperform rating on the stock. Approximately 4,071,801 shares traded hands during trading, a decline of 0% from the previous session’s volume of 4,077,532 shares.The stock last traded at $116.39 and had previously closed at $113.48.

A number of other research analysts have also recently weighed in on ENPH. Roth Mkm reiterated a “buy” rating and issued a $140.00 target price on shares of Enphase Energy in a research note on Thursday, April 18th. TD Cowen boosted their target price on shares of Enphase Energy from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday. KeyCorp reiterated a “sector weight” rating on shares of Enphase Energy in a research note on Thursday, January 4th. B. Riley boosted their price target on shares of Enphase Energy from $121.00 to $149.00 and gave the company a “buy” rating in a research report on Monday. Finally, Piper Sandler lowered their price target on shares of Enphase Energy from $120.00 to $117.00 and set a “neutral” rating on the stock in a research report on Friday, January 12th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $141.00.

Insider Activity

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were bought at an average price of $120.54 per share, with a total value of $482,160.00. Following the completion of the acquisition, the chief executive officer now owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of Enphase Energy stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the transaction, the chief executive officer now directly owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the sale, the director now owns 3,126 shares in the company, valued at approximately $376,964.34. The disclosure for this sale can be found here. Insiders have sold a total of 34,285 shares of company stock valued at $4,054,428 in the last 90 days. 3.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Enphase Energy

Several large investors have recently bought and sold shares of the business. Bogart Wealth LLC purchased a new position in Enphase Energy during the fourth quarter worth $26,000. CVA Family Office LLC purchased a new position in Enphase Energy during the fourth quarter worth $31,000. Parkside Financial Bank & Trust boosted its stake in Enphase Energy by 131.3% during the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock worth $37,000 after buying an additional 176 shares during the period. Covestor Ltd boosted its stake in Enphase Energy by 61.6% during the third quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock worth $42,000 after buying an additional 133 shares during the period. Finally, Addison Advisors LLC boosted its stake in Enphase Energy by 1,447.6% during the fourth quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock worth $43,000 after buying an additional 304 shares during the period. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Price Performance

The company has a quick ratio of 4.19, a current ratio of 4.59 and a debt-to-equity ratio of 1.32. The firm’s 50 day simple moving average is $118.79 and its 200 day simple moving average is $111.93. The company has a market capitalization of $14.66 billion, a PE ratio of 53.47, a price-to-earnings-growth ratio of 3.24 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.24 by $0.05. The company had revenue of $302.57 million during the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.34%. As a group, research analysts anticipate that Enphase Energy, Inc. will post 2.01 EPS for the current fiscal year.

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.