Enphase Energy (NASDAQ:ENPH) Trading 5.8% Higher

Enphase Energy, Inc. (NASDAQ:ENPH) shares rose 5.8% on Friday . The stock traded as high as $115.47 and last traded at $114.11. Approximately 1,578,622 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 4,179,273 shares. The stock had previously closed at $107.83.

Wall Street Analysts Forecast Growth

ENPH has been the topic of several analyst reports. Jefferies Financial Group lowered shares of Enphase Energy from a “buy” rating to a “hold” rating and lowered their target price for the stock from $135.00 to $111.00 in a report on Wednesday. Piper Sandler restated a “neutral” rating and set a $111.00 target price (down from $113.00) on shares of Enphase Energy in a report on Wednesday. KeyCorp reiterated a “sector weight” rating on shares of Enphase Energy in a report on Thursday, January 4th. Truist Financial lowered their price objective on shares of Enphase Energy from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Enphase Energy from $141.00 to $128.00 and set an “overweight” rating for the company in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $141.58.

Enphase Energy Stock Up 3.8 %

The company has a quick ratio of 4.19, a current ratio of 4.16 and a debt-to-equity ratio of 1.30. The company has a 50-day simple moving average of $118.22 and a two-hundred day simple moving average of $111.90. The stock has a market cap of $15.23 billion, a P/E ratio of 58.30, a P/E/G ratio of 3.16 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. The firm had revenue of $302.57 million for the quarter, compared to analysts’ expectations of $327.06 million. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. On average, equities analysts forecast that Enphase Energy, Inc. will post 1.95 EPS for the current year.

Insider Transactions at Enphase Energy

In other news, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $116.29, for a total value of $581,450.00. Following the sale, the executive vice president now directly owns 119,948 shares of the company’s stock, valued at $13,948,752.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average cost of $120.54 per share, with a total value of $482,160.00. Following the completion of the acquisition, 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 filing with the SEC, which is available at the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $116.29, for a total value of $581,450.00. Following the transaction, the executive vice president now directly owns 119,948 shares in the company, valued at $13,948,752.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,285 shares of company stock valued at $4,054,428. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ENPH. Bogart Wealth LLC bought a new position in shares of Enphase Energy during the fourth quarter valued at $26,000. CVA Family Office LLC bought a new position in shares of Enphase Energy during the fourth quarter valued at $31,000. YHB Investment Advisors Inc. bought a new position in Enphase Energy in the first quarter valued at about $35,000. Parkside Financial Bank & Trust lifted its holdings in Enphase Energy by 131.3% in the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 176 shares during the period. Finally, Covestor Ltd lifted its holdings in Enphase Energy by 61.6% in the third quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 133 shares during the period. 72.12% of the stock is owned by institutional investors.

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.