Enphase Energy (NASDAQ:ENPH) Shares Up 2.5% - Here's What Happened

Shares of Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) shot up 2.5% on Friday . The company traded as high as $62.30 and last traded at $62.22. 858,849 shares were traded during mid-day trading, a decline of 79% from the average session volume of 4,055,289 shares. The stock had previously closed at $60.71.

Wall Street Analysts Forecast Growth

ENPH has been the topic of several recent research reports. Redburn Atlantic assumed coverage on shares of Enphase Energy in a research report on Monday, March 3rd. They issued a "neutral" rating on the stock. Barclays lowered their price target on shares of Enphase Energy from $91.00 to $86.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. TD Cowen cut their price objective on Enphase Energy from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Monday, January 27th. Canaccord Genuity Group upgraded Enphase Energy from a "hold" rating to a "buy" rating and increased their target price for the company from $76.00 to $82.00 in a report on Wednesday, February 5th. Finally, Citigroup cut Enphase Energy from a "neutral" rating to a "negative" rating in a report on Wednesday, March 26th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $90.36.

Enphase Energy Stock Up 0.5 %

The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of 84.31 and a beta of 2.12. The firm has a 50-day moving average of $62.20 and a 200 day moving average of $74.79. 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 announced its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. On average, sell-side analysts anticipate that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Insider Transactions at Enphase Energy

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was 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 in the company, valued at $115,276,617.60. This trade represents a 5.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mandy Yang sold 1,319 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the transaction, the chief financial officer now owns 78,524 shares of the company's stock, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company's stock.

Institutional Investors Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently modified their holdings of ENPH. Quarry LP acquired a new position in Enphase Energy in the third quarter worth about $37,000. Venturi Wealth Management LLC grew its position in shares of Enphase Energy by 318.1% in the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company's stock worth $46,000 after acquiring an additional 509 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Enphase Energy in the 4th quarter valued at approximately $47,000. GeoWealth Management LLC raised its position in shares of Enphase Energy by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company's stock valued at $61,000 after acquiring an additional 321 shares in the last quarter. Finally, Sava Infond d.o.o. bought a new position in Enphase Energy during the fourth quarter worth $69,000. 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.