Enphase Energy (NASDAQ:ENPH) Trading 6.3% Higher – What’s Next?

Enphase Energy, Inc. (NASDAQ:ENPH)’s share price traded up 6.3% on Monday . The stock traded as high as $61.69 and last traded at $61.78. 1,075,606 shares were traded during trading, a decline of 75% from the average session volume of 4,258,008 shares. The stock had previously closed at $58.13.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Piper Sandler decreased their target price on shares of Enphase Energy from $70.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Oppenheimer boosted their price target on shares of Enphase Energy from $101.00 to $103.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Royal Bank of Canada reduced their price target on shares of Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating on the stock in a research report on Friday, November 22nd. Truist Financial restated a “hold” rating and issued a $65.00 price target (down from $100.00) on shares of Enphase Energy in a research report on Thursday, January 16th. Finally, Susquehanna reduced their price target on shares of Enphase Energy from $79.00 to $76.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.42.

Enphase Energy Stock Performance

The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The firm has a market capitalization of $8.13 billion, a P/E ratio of 82.95 and a beta of 2.12. The stock’s 50 day moving average is $63.01 and its two-hundred day moving average is $78.20.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. As a group, equities analysts anticipate that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $61.26, for a total value of $6,126,000.00. Following the completion of the sale, the director now owns 1,881,760 shares of the company’s stock, valued at approximately $115,276,617.60. This represents a 5.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mandy Yang sold 1,319 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction of $83,519.08. Following the completion of the sale, the chief financial officer now directly owns 78,524 shares of the company’s stock, valued at $4,972,139.68. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Avior Wealth Management LLC boosted its holdings in shares of Enphase Energy by 6,975.0% in the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 279 shares during the period. Stone House Investment Management LLC acquired a new position in shares of Enphase Energy in the third quarter valued at approximately $34,000. Quarry LP acquired a new position in shares of Enphase Energy in the third quarter valued at approximately $37,000. Venturi Wealth Management LLC boosted its holdings in shares of Enphase Energy by 318.1% in the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 509 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Enphase Energy in the fourth quarter valued at approximately $47,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.