Enphase Energy (NASDAQ:ENPH) Sees Strong Trading Volume Following Analyst Upgrade

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) saw strong trading volume on Wednesday after Oppenheimer raised their price target on the stock from $133.00 to $134.00. Oppenheimer currently has an outperform rating on the stock. 4,071,801 shares changed hands during mid-day trading, a decline of 0% from the previous session’s volume of 4,077,532 shares.The stock last traded at $116.39 and had previously closed at $113.48.

Several other research analysts have also issued reports on ENPH. BMO Capital Markets increased their price target on shares of Enphase Energy from $106.00 to $110.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 7th. TD Cowen increased their price target on shares of Enphase Energy from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday. Canaccord Genuity Group started coverage on shares of Enphase Energy in a research note on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price target for the company. Mizuho cut their price objective on shares of Enphase Energy from $150.00 to $148.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Finally, B. Riley increased their price objective on shares of Enphase Energy from $121.00 to $149.00 and gave the company a “buy” rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Enphase Energy has an average rating of “Hold” and a consensus price target of $141.82.

Insider Buying and Selling

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of Enphase Energy stock in a transaction that occurred on Tuesday, February 27th. The shares were bought at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the transaction, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Enphase Energy news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction on Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at $376,964.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were purchased at an average cost of $120.54 per share, with a total value of $482,160.00. Following the completion of the purchase, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 34,285 shares of company stock worth $4,054,428. Insiders own 3.40% of the company’s stock.

Institutional Trading of Enphase Energy

Large investors have recently made changes to their positions in the stock. Bogart Wealth LLC bought a new stake in shares of Enphase Energy in the fourth quarter valued at about $26,000. CVA Family Office LLC bought a new stake in shares of Enphase Energy in the fourth quarter valued at about $31,000. Geneos Wealth Management Inc. raised its holdings in shares of Enphase Energy by 68.0% in the third quarter. Geneos Wealth Management Inc. now owns 252 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 102 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Enphase Energy by 131.3% during the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 176 shares in the last quarter. Finally, Addison Advisors LLC raised its position in shares of Enphase Energy by 1,447.6% in the 4th quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 304 shares during the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Stock Down 1.2 %

The stock has a market capitalization of $15.25 billion, a PE ratio of 35.53, a price-to-earnings-growth ratio of 3.16 and a beta of 1.47. The company has a current ratio of 4.59, a quick ratio of 4.19 and a debt-to-equity ratio of 1.32. The company’s 50-day moving average is $119.28 and its 200 day moving average is $111.97.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.24 by $0.05. The firm had revenue of $302.57 million during the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. As a group, analysts anticipate that Enphase Energy, Inc. will post 2.01 EPS for the current year.

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.