Enphase Energy (NASDAQ:ENPH) Trading 6.9% Higher

Enphase Energy, Inc. (NASDAQ:ENPH)’s share price traded up 6.9% during mid-day trading on Wednesday . The company traded as high as $120.93 and last traded at $119.21. 3,019,216 shares were traded during mid-day trading, a decline of 26% from the average session volume of 4,067,312 shares. The stock had previously closed at $111.50.

Analyst Ratings Changes

Several brokerages have recently commented on ENPH. TD Cowen increased their price target on shares of Enphase Energy from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Oppenheimer increased their target price on Enphase Energy from $133.00 to $134.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Susquehanna reiterated a “positive” rating and issued a $140.00 price target on shares of Enphase Energy in a report on Friday, April 5th. Jefferies Financial Group cut Enphase Energy from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $135.00 to $111.00 in a research note on Wednesday, April 24th. Finally, Craig Hallum lowered their price objective on Enphase Energy from $159.00 to $147.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $133.45.

Enphase Energy Price Performance

The company’s 50-day simple moving average is $113.65 and its 200 day simple moving average is $113.18. The company has a quick ratio of 3.78, a current ratio of 4.16 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $16.34 billion, a price-to-earnings ratio of 61.20, a P/E/G ratio of 4.48 and a beta of 1.50.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, April 23rd. The semiconductor company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.17). The company had revenue of $263.34 million for the quarter, compared to analyst estimates of $280.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. Equities research analysts forecast that Enphase Energy, Inc. will post 1.59 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the purchase, the chief executive officer now directly owns 1,655,171 shares in the company, valued at $199,514,312.34. The purchase was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were purchased at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the purchase, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Steven J. Gomo sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $104.69, for a total value of $2,093,800.00. Following the completion of the sale, the director now owns 118,360 shares of the company’s stock, valued at approximately $12,391,108.40. The disclosure for this sale can be found here. Insiders have sold a total of 30,000 shares of company stock valued at $3,219,700 in the last three months. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bogart Wealth LLC bought a new stake in Enphase Energy in the fourth quarter valued at about $26,000. Manchester Capital Management LLC boosted its holdings in Enphase Energy by 1,068.4% during the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 203 shares in the last quarter. CVA Family Office LLC bought a new stake in shares of Enphase Energy in the 4th quarter valued at approximately $31,000. Chilton Capital Management LLC raised its holdings in shares of Enphase Energy by 2,733.3% in the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after buying an additional 246 shares in the last quarter. Finally, YHB Investment Advisors Inc. bought a new position in shares of Enphase Energy during the 1st quarter worth approximately $35,000. Institutional investors own 72.12% of the company’s stock.

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.