Enphase Energy (NASDAQ:ENPH) Shares Up 6.7%

Enphase Energy, Inc. (NASDAQ:ENPH) shot up 6.7% during trading on Wednesday . The stock traded as high as $117.39 and last traded at $116.68. 1,464,959 shares traded hands during trading, a decline of 65% from the average session volume of 4,170,417 shares. The stock had previously closed at $109.35.

Analysts Set New Price Targets

Several brokerages have recently commented on ENPH. Truist Financial raised Enphase Energy from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $145.00 in a report on Tuesday, January 23rd. KeyCorp restated a “sector weight” rating on shares of Enphase Energy in a research report on Thursday, January 4th. Royal Bank of Canada started coverage on Enphase Energy in a research report on Wednesday, February 14th. They issued an “outperform” rating and a $140.00 target price for the company. Canaccord Genuity Group started coverage on Enphase Energy in a research report on Tuesday, January 16th. They issued a “buy” rating and a $142.00 target price for the company. Finally, Jefferies Financial Group started coverage on Enphase Energy in a research report on Friday, December 15th. They issued a “buy” rating and a $121.00 target price for the company. Two equities 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 stock. According to data from MarketBeat, Enphase Energy currently has an average rating of “Moderate Buy” and a consensus price target of $153.65.

Enphase Energy Stock Up 7.7 %

The company has a market cap of $15.99 billion, a price-to-earnings ratio of 38.19, a PEG ratio of 3.07 and a beta of 1.48. The company has a current ratio of 4.59, a quick ratio of 4.19 and a debt-to-equity ratio of 1.32. The business has a fifty day moving average of $116.75 and a two-hundred day moving average of $112.56.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. The business had revenue of $302.57 million during the quarter, compared to analysts’ expectations of $327.06 million. As a group, equities analysts anticipate that Enphase Energy, Inc. will post 2.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Richard Mora sold 24,285 shares of the business’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 transaction, 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 this hyperlink. In other news, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the transaction, 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 accessible through the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $108.89, for a total value of $544,450.00. Following the sale, the executive vice president now directly owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Several institutional investors and hedge funds have recently modified their holdings of the company. 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 stake in shares of 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 boosted 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 purchasing an additional 74 shares during the period. Huntington National Bank grew its stake in Enphase Energy by 6.9% during the 2nd quarter. Huntington National Bank now owns 1,243 shares of the semiconductor company’s stock worth $208,000 after purchasing an additional 80 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in Enphase Energy by 7.8% during the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,100 shares of the semiconductor company’s stock worth $251,000 after purchasing an additional 80 shares during the period. Hedge funds and other 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.