Enphase Energy (NASDAQ:ENPH) Trading Up 2.5% – Here’s What Happened

Enphase Energy, Inc. (NASDAQ:ENPH)’s stock price was up 2.5% on Friday . The company traded as high as $62.30 and last traded at $62.22. Approximately 858,849 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 4,055,289 shares. The stock had previously closed at $60.71.

Analyst Ratings Changes

Several research analysts recently weighed in on ENPH shares. Susquehanna reduced their price objective on shares of Enphase Energy from $79.00 to $76.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Guggenheim raised shares of Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 price target for the company in a report on Friday, January 31st. Citigroup downgraded Enphase Energy from a “neutral” rating to a “negative” rating in a research note on Wednesday. Oppenheimer boosted their target price on Enphase Energy from $101.00 to $103.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Finally, Glj Research reiterated a “sell” rating and set a $50.69 price objective on shares of Enphase Energy in a report on Tuesday, February 4th. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and a consensus target price of $90.36.

Enphase Energy Stock Performance

The stock has a market capitalization of $8.17 billion, a P/E ratio of 83.31 and a beta of 2.12. The stock’s 50-day simple moving average is $62.24 and its 200 day simple moving average is $75.68. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. Research analysts expect that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Insider Activity

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the transaction, the director now owns 1,881,760 shares in the company, valued at $115,276,617.60. This trade represents a 5.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mandy Yang sold 1,319 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the sale, the chief financial officer now owns 78,524 shares of the company’s stock, valued at approximately $4,972,139.68. The trade was a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

Institutional Trading of Enphase Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP acquired a new position in Enphase Energy during the third quarter valued at approximately $37,000. Brooklyn Investment Group bought a new position in shares of Enphase Energy in the 3rd quarter valued at $55,000. Venturi Wealth Management LLC raised its holdings in shares of Enphase Energy by 318.1% during the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock worth $46,000 after buying an additional 509 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Enphase Energy during the 4th quarter worth $47,000. Finally, GeoWealth Management LLC boosted its stake in Enphase Energy by 56.3% in the fourth quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company’s stock valued at $61,000 after buying an additional 321 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.