Enphase Energy (NASDAQ:ENPH) Trading Up 3.7% - Still a Buy?

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) shares were up 3.7% during mid-day trading on Tuesday . The company traded as high as $54.95 and last traded at $54.85. Approximately 1,606,613 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 4,243,353 shares. The stock had previously closed at $52.87.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ENPH shares. JPMorgan Chase & Co. reduced their price target on shares of Enphase Energy from $112.00 to $91.00 and set an "overweight" rating on the stock in a research note on Thursday, January 23rd. The Goldman Sachs Group decreased their price target on Enphase Energy from $121.00 to $105.00 and set a "buy" rating for the company in a report on Wednesday, January 22nd. TD Cowen dropped their target price on shares of Enphase Energy from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Monday, January 27th. Piper Sandler cut their price target on Enphase Energy from $70.00 to $65.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. Finally, Northland Securities cut their target price on shares of Enphase Energy from $110.00 to $90.00 and set an "outperform" rating on the stock in a report on Tuesday, November 19th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $90.42.

Remove Ads

Enphase Energy Price Performance

The stock has a market capitalization of $8.16 billion, a price-to-earnings ratio of 83.28 and a beta of 2.12. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. The company has a 50 day moving average of $64.45 and a 200 day moving average of $81.46.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS 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%. As a group, equities research analysts forecast that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Thurman J. Rodgers sold 100,000 shares of the 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 completion of the transaction, the director now owns 1,881,760 shares of the company's stock, valued at approximately $115,276,617.60. This represents a 5.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 3.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Enphase Energy by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company's stock valued at $1,135,707,000 after purchasing an additional 44,782 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in 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 buying an additional 2,028,691 shares during the last quarter. Invesco Ltd. lifted its holdings in 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 buying an additional 1,378,978 shares during the last quarter. Swedbank AB lifted its holdings in Enphase Energy by 0.3% during the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company's stock worth $391,442,000 after buying an additional 11,890 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Enphase Energy by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 3,429,909 shares of the semiconductor company's stock worth $234,994,000 after buying an additional 47,593 shares during the last quarter. Hedge funds and other institutional investors 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.