Enphase Energy (NASDAQ:ENPH) Sees Large Volume Increase After Analyst Upgrade

Enphase Energy, Inc. (NASDAQ:ENPH) shares saw unusually-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. Approximately 4,071,801 shares traded 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.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets raised their price target on Enphase Energy from $106.00 to $110.00 and gave the company a “market perform” rating in a research report on Wednesday, February 7th. TD Cowen lifted their target price on Enphase Energy from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Sandler decreased their target price on Enphase Energy from $120.00 to $117.00 and set a “neutral” rating on the stock in a research report on Friday, January 12th. Canaccord Genuity Group began coverage on Enphase Energy in a research report on Tuesday, January 16th. They set a “buy” rating and a $142.00 target price on the stock. Finally, DZ Bank began coverage on Enphase Energy in a research report on Wednesday, April 17th. They set a “hold” rating and a $116.00 target price on the stock. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $141.00.

Insider Buying and Selling

In related news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the completion of the transaction, the executive vice president now owns 124,948 shares in the company, valued at approximately $13,605,587.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was purchased at an average price of $120.54 per share, with a total value of $482,160.00. Following the acquisition, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction on Friday, March 15th. The stock was sold at an average price of $108.89, for a total transaction of $544,450.00. Following the sale, the executive vice president now directly owns 124,948 shares of the company’s stock, valued at approximately $13,605,587.72. The disclosure for this sale can be found here. Insiders sold 34,285 shares of company stock worth $4,054,428 in the last quarter. Insiders own 3.40% of the company’s stock.

Institutional Trading of Enphase Energy

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Enphase Energy by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock worth $2,066,846,000 after acquiring an additional 192,854 shares during the period. Baillie Gifford & Co. grew its holdings in shares of Enphase Energy by 387,343.1% in the 4th quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after buying an additional 4,078,723 shares during the period. Northern Trust Corp grew its holdings in shares of Enphase Energy by 0.3% in the 4th quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock valued at $180,314,000 after buying an additional 3,940 shares during the period. Norges Bank acquired a new position in shares of Enphase Energy in the 4th quarter valued at $149,425,000. Finally, Schroder Investment Management Group grew its holdings in shares of Enphase Energy by 3.3% in the 3rd quarter. Schroder Investment Management Group now owns 1,124,265 shares of the semiconductor company’s stock valued at $135,080,000 after buying an additional 35,681 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Stock Down 5.6 %

The company has a market cap of $14.57 billion, a price-to-earnings ratio of 35.02, 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 firm’s fifty day moving average price is $119.28 and its 200-day moving average price is $111.97.

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

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.