Enphase Energy (NASDAQ:ENPH) Shares Gap Up to $104.61

Enphase Energy, Inc. (NASDAQ:ENPH)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $104.61, but opened at $108.21. Enphase Energy shares last traded at $109.24, with a volume of 567,809 shares.

Analyst Ratings Changes

Several research firms have recently weighed in on ENPH. Barclays dropped their price target on shares of Enphase Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Bank of America decreased their price target on shares of Enphase Energy from $71.00 to $70.00 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. Jefferies Financial Group reiterated a “hold” rating and set a $115.00 target price (up previously from $111.00) on shares of Enphase Energy in a research report on Wednesday, September 4th. Roth Mkm restated a “buy” rating and issued a $140.00 price target on shares of Enphase Energy in a research report on Wednesday, July 24th. Finally, William Blair started coverage on shares of Enphase Energy in a research report on Thursday, August 29th. They issued a “market perform” rating for the company. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $128.89.

Enphase Energy Price Performance

The firm has a market capitalization of $14.83 billion, a PE ratio of 57.40, a P/E/G ratio of 5.74 and a beta of 1.72. The firm’s fifty day moving average price is $111.62 and its 200 day moving average price is $115.07. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The firm had revenue of $303.80 million for the quarter, compared to analyst estimates of $309.73 million. During the same quarter last year, the company earned $1.16 earnings per share. The firm’s revenue for the quarter was down 57.3% on a year-over-year basis. As a group, equities analysts forecast that Enphase Energy, Inc. will post 1.19 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $123.27, for a total value of $616,350.00. Following the sale, the executive vice president now owns 107,943 shares in the company, valued at approximately $13,306,133.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.40% of the stock is owned by insiders.

Institutional Trading of Enphase Energy

A number of hedge funds have recently made changes to their positions in ENPH. Manchester Capital Management LLC grew its holdings in Enphase Energy by 1,068.4% in the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock worth $27,000 after buying an additional 203 shares in the last quarter. Chilton Capital Management LLC lifted its position in shares of Enphase Energy by 2,733.3% during the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 246 shares during the last quarter. YHB Investment Advisors Inc. acquired a new stake in Enphase Energy in the 1st quarter worth $35,000. TFO Wealth Partners LLC grew its holdings in shares of Enphase Energy by 6,720.0% during the 4th quarter. TFO Wealth Partners LLC now owns 341 shares of the semiconductor company’s stock worth $45,000 after purchasing an additional 336 shares in the last quarter. Finally, Lindbrook Capital LLC raised its position in Enphase Energy by 50.9% in the first quarter. Lindbrook Capital LLC now owns 427 shares of the semiconductor company’s stock worth $52,000 after purchasing an additional 144 shares in the last quarter. Hedge funds and other institutional investors 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.