A number of other equities analysts have also recently issued reports on ENPH. JPMorgan Chase & Co. initiated coverage on shares of Enphase Energy in a research report on Monday, September 16th. They issued an overweight rating and a $32.00 price objective on the stock. B. Riley reiterated a buy rating and set a $21.00 price target on shares of Enphase Energy in a research report on Wednesday, June 12th. HC Wainwright upgraded shares of Enphase Energy from a neutral rating to a buy rating and set a $36.00 price target on the stock in a research report on Wednesday, July 31st. Craig Hallum set a $31.00 price target on shares of Enphase Energy and gave the company a buy rating in a research report on Wednesday, July 31st. Finally, ValuEngine cut shares of Enphase Energy from a hold rating to a sell rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $33.95.
Enphase Energy stock traded up $0.30 during mid-day trading on Tuesday, hitting $24.83. The company’s stock had a trading volume of 54,599 shares, compared to its average volume of 5,564,983. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.44 and a quick ratio of 2.30. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of -206.83 and a beta of 0.85. The business has a 50 day moving average price of $26.40 and a 200-day moving average price of $19.45. Enphase Energy has a 12 month low of $4.06 and a 12 month high of $35.42.
In related news, CEO Badrinarayanan Kothandaraman sold 10,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $24.75, for a total transaction of $247,500.00. Following the transaction, the chief executive officer now owns 390,560 shares in the company, valued at $9,666,360. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP David A. Ranhoff sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $29.25, for a total transaction of $877,500.00. Following the transaction, the vice president now owns 767,297 shares in the company, valued at approximately $22,443,437.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,500 shares of company stock worth $3,174,900. Insiders own 12.46% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Aperio Group LLC bought a new position in Enphase Energy in the second quarter worth approximately $26,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Enphase Energy by 607.5% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,830 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 2,430 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Enphase Energy in the second quarter worth $54,000. Gradient Investments LLC purchased a new stake in shares of Enphase Energy in the third quarter worth $60,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Enphase Energy in the second quarter worth $89,000. Institutional investors own 43.36% of the company’s stock.
Enphase Energy Company Profile
Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control services.
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