Enphase Energy (NASDAQ:ENPH) Shares Up 4.8%

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) shares traded up 4.8% on Monday . The company traded as high as $129.85 and last traded at $128.94. 290,979 shares were traded during mid-day trading, a decline of 93% from the average session volume of 3,974,357 shares. The stock had previously closed at $123.00.

Analyst Ratings Changes

ENPH has been the subject of a number of research analyst reports. Morgan Stanley lifted their price objective on shares of Enphase Energy from $98.00 to $100.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 21st. Glj Research assumed coverage on shares of Enphase Energy in a research report on Tuesday, June 25th. They set a "sell" rating and a $45.82 price target on the stock. Piper Sandler upped their price objective on shares of Enphase Energy from $111.00 to $120.00 and gave the company a "neutral" rating in a research note on Monday, July 22nd. BNP Paribas upgraded shares of Enphase Energy from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $120.00 to $144.00 in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Enphase Energy from $124.00 to $130.00 and gave the company an "overweight" rating in a research report on Tuesday, July 16th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat.com, Enphase Energy has an average rating of "Hold" and a consensus target price of $128.76.

Enphase Energy Trading Down 0.3 %

The company has a market cap of $16.68 billion, a P/E ratio of 64.61, a P/E/G ratio of 5.59 and a beta of 1.71. The stock's 50-day moving average is $109.59 and its two-hundred day moving average is $116.00. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.06). The company had revenue of $303.80 million for the quarter, compared to the consensus estimate of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The firm's revenue for the quarter was down 57.3% on a year-over-year basis. During the same quarter last year, the company earned $1.16 EPS. As a group, equities research analysts predict that Enphase Energy, Inc. will post 1.24 earnings per share for the current fiscal year.

Insider Transactions at Enphase Energy

In other news, Director Thurman J. Rodgers sold 319,526 shares of Enphase Energy stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $126.53, for a total transaction of $40,429,624.78. Following the transaction, the director now owns 1,984,562 shares in the company, valued at approximately $251,106,629.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP David A. Ranhoff sold 5,000 shares of the firm's stock in a transaction on Monday, June 17th. The shares were sold at an average price of $123.27, for a total transaction of $616,350.00. Following the sale, the executive vice president now directly owns 107,943 shares in the company, valued at approximately $13,306,133.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thurman J. Rodgers sold 319,526 shares of the firm's stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $126.53, for a total transaction of $40,429,624.78. Following the sale, the director now owns 1,984,562 shares in the company, valued at $251,106,629.86. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company's stock.

Institutional Trading of Enphase Energy

Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. bought a new stake in Enphase Energy in the 2nd quarter valued at $2,780,000. Kimelman & Baird LLC bought a new stake in Enphase Energy in the 2nd quarter valued at $2,435,000. B. Riley Wealth Advisors Inc. increased its holdings in Enphase Energy by 16.3% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 4,620 shares of the semiconductor company's stock valued at $461,000 after acquiring an additional 646 shares during the last quarter. Doheny Asset Management CA bought a new stake in Enphase Energy in the 2nd quarter valued at $8,095,000. Finally, Duff & Phelps Investment Management Co. increased its holdings in Enphase Energy by 12.2% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 15,949 shares of the semiconductor company's stock valued at $1,590,000 after acquiring an additional 1,737 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors.

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.