Enphase Energy (NASDAQ:ENPH) Shares Up 3.7% – Here’s What Happened

Enphase Energy, Inc. (NASDAQ:ENPH)’s stock price shot up 3.7% on Tuesday . The stock traded as high as $54.95 and last traded at $54.85. 1,606,613 shares were traded during trading, a decline of 62% from the average session volume of 4,243,353 shares. The stock had previously closed at $52.87.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ENPH. The Goldman Sachs Group reduced their price objective on shares of Enphase Energy from $121.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. decreased their target price on shares of Enphase Energy from $112.00 to $91.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Susquehanna decreased their target price on shares of Enphase Energy from $79.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Wells Fargo & Company decreased their target price on shares of Enphase Energy from $83.00 to $77.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Finally, Oppenheimer raised their target price on shares of Enphase Energy from $101.00 to $103.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $90.42.

Enphase Energy Price Performance

The stock has a fifty day moving average of $65.55 and a 200-day moving average of $82.85. 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 firm has a market capitalization of $7.66 billion, a P/E ratio of 78.19 and a beta of 1.68.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. Equities analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Institutional Trading of Enphase Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Enphase Energy by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company’s stock worth $1,135,707,000 after purchasing an additional 44,782 shares during the last quarter. Baillie Gifford & Co. raised 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 purchasing an additional 2,028,691 shares during the last quarter. Invesco Ltd. raised 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 purchasing an additional 1,378,978 shares during the last quarter. Swedbank AB raised 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 purchasing an additional 11,890 shares during the last quarter. Finally, Geode Capital Management LLC raised 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 purchasing an additional 47,593 shares during the last quarter. 72.12% of the stock is 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.