Enphase Energy (NASDAQ:ENPH) Shares Gap Up - What's Next?

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $65.67, but opened at $68.14. Enphase Energy shares last traded at $69.81, with a volume of 915,815 shares.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ENPH shares. Barclays reduced their target price on Enphase Energy from $91.00 to $86.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Jefferies Financial Group cut shares of Enphase Energy from a "hold" rating to an "underperform" rating and reduced their price objective for the company from $93.00 to $61.00 in a research note on Thursday, November 7th. Piper Sandler lowered their target price on shares of Enphase Energy from $70.00 to $65.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. Oppenheimer raised their price target on shares of Enphase Energy from $101.00 to $103.00 and gave the company an "outperform" rating in a report on Wednesday, February 5th. Finally, Truist Financial reiterated a "hold" rating and issued a $65.00 price objective (down previously from $100.00) on shares of Enphase Energy in a research report on Thursday, January 16th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Enphase Energy currently has an average rating of "Hold" and a consensus target price of $90.42.

Enphase Energy Stock Performance

The business has a fifty day moving average of $66.60 and a 200-day moving average of $84.67. The company has a market cap of $8.81 billion, a PE ratio of 89.87 and a beta of 1.68. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. Equities research analysts anticipate that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Enphase Energy by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company's stock worth $1,135,707,000 after acquiring an additional 44,782 shares during the period. Baillie Gifford & Co. boosted its position in shares of Enphase Energy by 32.0% during the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company's stock valued at $574,975,000 after purchasing an additional 2,028,691 shares in the last quarter. Invesco Ltd. grew its stake in Enphase Energy by 43.4% in the fourth quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company's stock worth $313,034,000 after purchasing an additional 1,378,978 shares during the period. Swedbank AB raised its holdings in Enphase Energy by 0.3% in the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company's stock worth $391,442,000 after purchasing an additional 11,890 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Enphase Energy by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 3,429,909 shares of the semiconductor company's stock valued at $234,994,000 after buying an additional 47,593 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.