Enphase Energy (NASDAQ:ENPH) Stock Price Up 5% - Time to Buy?

Shares of Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) shot up 5% during trading on Monday . The stock traded as high as $64.05 and last traded at $64.69. 634,127 shares changed hands during trading, a decline of 85% from the average session volume of 4,306,243 shares. The stock had previously closed at $61.63.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Oppenheimer increased their price target on shares of Enphase Energy from $101.00 to $103.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 5th. Wells Fargo & Company cut their target price on Enphase Energy from $83.00 to $77.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Glj Research reiterated a "sell" rating and issued a $50.69 target price on shares of Enphase Energy in a report on Tuesday, February 4th. Redburn Atlantic started coverage on Enphase Energy in a research note on Monday, March 3rd. They set a "neutral" rating for the company. Finally, Guggenheim raised Enphase Energy from a "sell" rating to a "neutral" rating and set a $62.00 price objective on the stock in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $90.42.

Enphase Energy Stock Down 3.9 %

The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The stock has a market capitalization of $7.75 billion, a price-to-earnings ratio of 79.03 and a beta of 2.12. The firm's fifty day moving average is $64.15 and its 200-day moving average is $80.39.

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

Insiders Place Their Bets

In related news, Director Thurman J. Rodgers sold 100,000 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the sale, the director now owns 1,881,760 shares of the company's stock, valued at $115,276,617.60. This represents a 5.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction of $83,519.08. Following the sale, the chief financial officer now owns 78,524 shares in the company, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Enphase Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of ENPH. Vanguard Group Inc. lifted its holdings in shares of Enphase Energy by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company's stock worth $1,135,707,000 after purchasing an additional 44,782 shares during the last quarter. Baillie Gifford & Co. lifted its stake in Enphase Energy by 32.0% in the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company's stock valued at $574,975,000 after buying an additional 2,028,691 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Enphase Energy by 43.4% during the fourth quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company's stock valued at $313,034,000 after acquiring an additional 1,378,978 shares during the period. Swedbank AB grew its position in shares of Enphase Energy by 0.3% during the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company's stock worth $391,442,000 after acquiring an additional 11,890 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Enphase Energy by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 3,429,909 shares of the semiconductor company's stock worth $234,994,000 after acquiring an additional 47,593 shares during the period. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.