Enphase Energy (NASDAQ:ENPH) Shares Up 6.3% - Here's Why

Shares of Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) shot up 6.3% during mid-day trading on Monday . The company traded as high as $61.69 and last traded at $61.78. 1,075,606 shares were traded during trading, a decline of 75% from the average session volume of 4,258,008 shares. The stock had previously closed at $58.13.

Analyst Ratings Changes

ENPH has been the topic of a number of research analyst reports. Royal Bank of Canada dropped their price objective on shares of Enphase Energy from $85.00 to $71.00 and set a "sector perform" rating on the stock in a report on Friday, November 22nd. Wells Fargo & Company dropped their price objective on shares of Enphase Energy from $83.00 to $77.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. TD Cowen lowered their price target on shares of Enphase Energy from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Monday, January 27th. Redburn Atlantic started coverage on shares of Enphase Energy in a report on Monday, March 3rd. They issued a "neutral" rating on the stock. Finally, The Goldman Sachs Group lowered their price target on shares of Enphase Energy from $121.00 to $105.00 and set a "buy" rating on the stock in a report on Wednesday, January 22nd. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $90.42.

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Enphase Energy Stock Up 1.1 %

The firm has a 50 day simple moving average of $62.70 and a two-hundred day simple moving average of $77.97. The company has a market capitalization of $8.26 billion, a PE ratio of 84.76 and a beta of 2.12. 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 released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. Research analysts expect that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Insider Activity at Enphase Energy

In related news, Director Thurman J. Rodgers sold 100,000 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the transaction, the director now owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. The trade was a 5.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mandy Yang sold 1,319 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $63.32, for a total value of $83,519.08. Following the completion of the transaction, 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. Insiders own 3.40% of the company's stock.

Institutional Trading of Enphase Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Baillie Gifford & Co. raised its position in shares of Enphase Energy by 32.0% during the 4th quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company's stock worth $574,975,000 after purchasing an additional 2,028,691 shares during the period. Invesco Ltd. raised its position in shares of Enphase Energy by 43.4% during the 4th 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. Nordea Investment Management AB raised its position in shares of Enphase Energy by 131.6% during the 4th quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company's stock worth $155,360,000 after purchasing an additional 1,258,778 shares during the period. Worldquant Millennium Advisors LLC raised its position in shares of Enphase Energy by 531.4% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 805,791 shares of the semiconductor company's stock worth $55,342,000 after purchasing an additional 678,163 shares during the period. Finally, Norges Bank acquired a new stake in shares of Enphase Energy during the 4th quarter worth approximately $46,339,000. Institutional investors and hedge funds own 72.12% of the company's stock.

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.