Enphase Energy (NASDAQ:ENPH) Trading Up 6.7%

Enphase Energy, Inc. (NASDAQ:ENPH)’s stock price was up 6.7% during trading on Wednesday . The company traded as high as $117.39 and last traded at $116.68. Approximately 1,464,959 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 4,170,417 shares. The stock had previously closed at $109.35.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Canaccord Genuity Group assumed coverage on shares of Enphase Energy in a report on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price target on the stock. Mizuho lifted their target price on shares of Enphase Energy from $131.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Canaccord Genuity Group began coverage on shares of Enphase Energy in a research note on Tuesday, January 16th. They set a “buy” rating and a $142.00 target price on the stock. KeyCorp reaffirmed a “sector weight” rating on shares of Enphase Energy in a research note on Thursday, January 4th. Finally, Morgan Stanley boosted their price objective on shares of Enphase Energy from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Enphase Energy has an average rating of “Moderate Buy” and a consensus price target of $153.65.

Enphase Energy Stock Up 1.0 %

The firm has a market capitalization of $16.42 billion, a P/E ratio of 39.54, a PEG ratio of 3.32 and a beta of 1.48. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59. The business’s fifty day moving average price is $117.33 and its two-hundred day moving average price is $112.67.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. The company had revenue of $302.57 million during the quarter, compared to analyst estimates of $327.06 million. Equities analysts expect that Enphase Energy, Inc. will post 2.09 earnings per share for the current fiscal year.

Insider Activity at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction 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 of the company’s stock, valued at approximately $376,964.34. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the completion of the sale, the executive vice president now owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The disclosure for this sale can be found here. 4.80% of the stock is owned by corporate insiders.

Institutional Trading of Enphase Energy

Several hedge funds have recently made changes to their positions in the business. Thrivent Financial for Lutherans lifted its position in shares of Enphase Energy by 0.8% during the third quarter. Thrivent Financial for Lutherans now owns 5,778 shares of the semiconductor company’s stock worth $1,603,000 after purchasing an additional 48 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Enphase Energy by 1.7% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,222 shares of the semiconductor company’s stock valued at $852,000 after acquiring an additional 72 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in Enphase Energy by 4.2% in the second quarter. O Shaughnessy Asset Management LLC now owns 1,820 shares of the semiconductor company’s stock valued at $305,000 after acquiring an additional 74 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in Enphase Energy by 7.8% in the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,100 shares of the semiconductor company’s stock valued at $251,000 after acquiring an additional 80 shares in the last quarter. Finally, KB Financial Partners LLC raised its holdings in Enphase Energy by 39.8% in the second quarter. KB Financial Partners LLC now owns 309 shares of the semiconductor company’s stock valued at $52,000 after acquiring an additional 88 shares in the last quarter. Institutional investors and hedge funds 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.