Enphase Energy (NASDAQ:ENPH) Shares Up 3.7% – Here’s What Happened

Enphase Energy, Inc. (NASDAQ:ENPH)’s share price shot up 3.7% during mid-day trading on Tuesday . The stock traded as high as $54.95 and last traded at $54.85. 1,606,613 shares changed hands during trading, a decline of 62% from the average session volume of 4,243,353 shares. The stock had previously closed at $52.87.

Analyst Ratings Changes

Several research firms have recently issued reports on ENPH. Hsbc Global Res lowered Enphase Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. Canaccord Genuity Group upgraded Enphase Energy from a “hold” rating to a “buy” rating and boosted their target price for the stock from $76.00 to $82.00 in a research report on Wednesday, February 5th. Redburn Atlantic initiated coverage on Enphase Energy in a research report on Monday. They set a “neutral” rating for the company. TD Cowen decreased their price objective on Enphase Energy from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Finally, OTR Global upgraded Enphase Energy from a “negative” rating to a “mixed” rating in a research report on Friday, December 20th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $90.42.

Enphase Energy Trading Up 9.4 %

The business has a 50 day moving average of $65.55 and a two-hundred day moving average of $82.85. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. The firm has a market cap of $7.66 billion, a P/E ratio of 78.19 and a beta of 1.68.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. Analysts predict that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Institutional Investors Weigh In On Enphase Energy

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Enphase Energy by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company’s stock valued at $1,135,707,000 after acquiring an additional 44,782 shares during the period. Baillie Gifford & Co. grew its holdings in Enphase Energy by 32.0% in the 4th quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock valued at $574,975,000 after buying an additional 2,028,691 shares in the last quarter. Invesco Ltd. grew its holdings in Enphase Energy by 43.4% in the 4th quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company’s stock valued at $313,034,000 after buying an additional 1,378,978 shares in the last quarter. Swedbank AB grew its holdings in Enphase Energy by 0.3% in the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after buying an additional 11,890 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Enphase Energy by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 3,429,909 shares of the semiconductor company’s stock valued at $234,994,000 after buying an additional 47,593 shares in the last quarter. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Company Profile

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.