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

Enphase Energy, Inc. (NASDAQ:ENPH) shares saw an uptick in 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. 4,071,801 shares were traded 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.

Several other research firms also recently weighed in on ENPH. Citigroup downgraded shares of Enphase Energy from a “buy” rating to a “neutral” rating and decreased their price target for the company from $126.00 to $121.00 in a research note on Friday, April 5th. B. Riley lifted their price target on shares of Enphase Energy from $121.00 to $149.00 and gave the company a “buy” rating in a research note on Monday. Royal Bank of Canada began coverage on shares of Enphase Energy in a research note on Wednesday, February 14th. They issued an “outperform” rating and a $140.00 price target for the company. Truist Financial decreased their target price on shares of Enphase Energy from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Mizuho decreased their target price on shares of Enphase Energy from $150.00 to $148.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $141.00.

Insider Buying and Selling at Enphase Energy

In related news, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction that occurred on 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 sale, the director now directly owns 3,126 shares in the company, valued at approximately $376,964.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction that occurred on 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 sale, the director now directly owns 3,126 shares in the company, valued at approximately $376,964.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.89, for a total transaction of $544,450.00. Following the sale, the executive vice president now owns 124,948 shares in the company, valued at $13,605,587.72. The disclosure for this sale can be found here. Insiders have sold a total of 34,285 shares of company stock worth $4,054,428 over the last three months. 3.40% of the stock is currently owned by insiders.

Institutional Trading of Enphase Energy

A number of institutional investors have recently modified their holdings of ENPH. Vanguard Group Inc. increased its holdings in Enphase Energy by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock worth $2,066,846,000 after acquiring an additional 192,854 shares during the period. Baillie Gifford & Co. increased its holdings in Enphase Energy by 387,343.1% during the 4th quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock worth $539,102,000 after acquiring an additional 4,078,723 shares during the period. Northern Trust Corp increased its holdings in Enphase Energy by 0.3% during the 4th quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock worth $180,314,000 after acquiring an additional 3,940 shares during the period. Norges Bank bought a new stake in Enphase Energy during the 4th quarter worth approximately $149,425,000. Finally, Schroder Investment Management Group increased its holdings in Enphase Energy by 3.3% during the 3rd quarter. Schroder Investment Management Group now owns 1,124,265 shares of the semiconductor company’s stock worth $135,080,000 after acquiring an additional 35,681 shares during the period. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Stock Down 5.6 %

The stock’s fifty day moving average is $119.28 and its two-hundred day moving average is $111.97. 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 firm has a market cap of $14.57 billion, a P/E ratio of 35.02, a price-to-earnings-growth 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 for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. The business had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. As a group, research analysts anticipate that Enphase Energy, Inc. will post 2.01 earnings per share 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.