Enphase Energy Inc (NASDAQ:ENPH)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $24.92, but opened at $23.74. Enphase Energy shares last traded at $24.42, with a volume of 242,111 shares traded.
ENPH has been the subject of several research analyst reports. BidaskClub upgraded Enphase Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Goldman Sachs Group initiated coverage on Enphase Energy in a research note on Monday. They issued a “buy” rating and a $31.00 price objective on the stock. Zacks Investment Research cut Enphase Energy from a “buy” rating to a “hold” rating and set a $26.00 price objective on the stock. in a report on Tuesday, October 1st. JPMorgan Chase & Co. initiated coverage on Enphase Energy in a research report on Monday, September 16th. They set an “overweight” rating and a $32.00 target price for the company. Finally, Northland Securities set a $40.00 target price on shares of Enphase Energy and gave the company a “buy” rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $34.29.
The company has a 50 day simple moving average of $21.24 and a two-hundred day simple moving average of $22.38. The company has a quick ratio of 2.46, a current ratio of 2.67 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $2.68 billion, a P/E ratio of -194.75 and a beta of 0.94.
Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. The business had revenue of $180.06 million for the quarter, compared to the consensus estimate of $176.49 million. Enphase Energy had a return on equity of 62.77% and a net margin of 8.92%. The company’s quarterly revenue was up 130.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.04 earnings per share. As a group, research analysts expect that Enphase Energy Inc will post 0.61 EPS for the current fiscal year.
In other news, COO Jeff Mcneil sold 7,500 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $25.08, for a total value of $188,100.00. Following the completion of the sale, the chief operating officer now owns 318,038 shares in the company, valued at approximately $7,976,393.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Badrinarayanan Kothandaraman sold 10,000 shares of Enphase Energy stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $23.72, for a total transaction of $237,200.00. Following the transaction, the chief executive officer now directly owns 513,300 shares of the company’s stock, valued at $12,175,476. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,500 shares of company stock worth $1,378,565. Corporate insiders own 12.46% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Aperio Group LLC bought a new stake in Enphase Energy in the second quarter worth about $26,000. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Enphase Energy by 607.5% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,830 shares of the semiconductor company’s stock valued at $51,000 after buying an additional 2,430 shares during the period. Steward Partners Investment Advisory LLC bought a new position in shares of Enphase Energy during the second quarter valued at approximately $54,000. Gradient Investments LLC bought a new position in shares of Enphase Energy during the third quarter valued at approximately $60,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Enphase Energy during the third quarter valued at approximately $67,000. 44.72% of the stock is currently owned by institutional investors.
Enphase Energy Company Profile (NASDAQ:ENPH)
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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