Enphase Energy (NASDAQ:ENPH) Sees Large Volume Increase on Analyst Upgrade

Enphase Energy, Inc. (NASDAQ:ENPH) saw unusually-strong trading volume on Wednesday after Oppenheimer raised their price target on the stock from $133.00 to $134.00. Oppenheimer currently has an outperform rating on the stock. Approximately 4,071,801 shares changed hands during trading, a decline of 0% from the previous session’s volume of 4,077,532 shares.The stock last traded at $116.39 and had previously closed at $113.48.

ENPH has been the topic of several other research reports. Mizuho reduced their price target on Enphase Energy from $150.00 to $148.00 and set a “buy” rating on the stock in a report on Friday, April 19th. KeyCorp reiterated a “sector weight” rating on shares of Enphase Energy in a report on Thursday, January 4th. Piper Sandler reduced their price objective on shares of Enphase Energy from $120.00 to $117.00 and set a “neutral” rating on the stock in a report on Friday, January 12th. Guggenheim lowered shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $92.00 price objective on the stock. in a report on Wednesday. Finally, BMO Capital Markets boosted their price objective on shares of Enphase Energy from $106.00 to $110.00 and gave the company a “market perform” rating in a report on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $141.00.

Insider Transactions at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was acquired at an average cost of $120.54 per share, with a total value of $482,160.00. Following the completion of the transaction, the chief executive officer now owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was 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 of the company’s stock, valued at approximately $199,514,312.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 119,948 shares of the company’s stock, valued at $13,948,752.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,285 shares of company stock valued at $4,054,428. 3.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Enphase Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bogart Wealth LLC purchased a new stake in Enphase Energy in the fourth quarter valued at approximately $26,000. CVA Family Office LLC purchased a new stake in Enphase Energy in the fourth quarter valued at approximately $31,000. Parkside Financial Bank & Trust lifted its stake 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 buying an additional 176 shares during the last quarter. Covestor Ltd lifted its stake 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 buying an additional 133 shares during the last quarter. Finally, Addison Advisors LLC lifted its stake in Enphase Energy by 1,447.6% in the fourth quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 304 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Performance

The company has a debt-to-equity ratio of 1.32, a current ratio of 4.59 and a quick ratio of 4.19. The stock has a 50 day simple moving average of $118.79 and a two-hundred day simple moving average of $111.93. The company has a market cap of $14.66 billion, a PE ratio of 53.47, a PEG ratio of 3.24 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.24 by $0.05. Enphase Energy had a return on equity of 31.34% and a net margin of 15.10%. The business had revenue of $302.57 million during the quarter, compared to analysts’ expectations of $327.06 million. Equities analysts predict that Enphase Energy, Inc. will post 2.01 EPS for the current year.

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.