Enphase Energy (NASDAQ:ENPH) Shares Gap Up to $149.28

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) gapped up prior to trading on Thursday . The stock had previously closed at $149.28, but opened at $153.61. Enphase Energy shares last traded at $154.18, with a volume of 12,553 shares trading hands.

A number of research firms have commented on ENPH. Bank of America downgraded shares of Enphase Energy from a “buy” rating to a “neutral” rating and cut their price objective for the company from $297.00 to $187.00 in a report on Wednesday, January 5th. Zacks Investment Research upgraded shares of Enphase Energy from a “sell” rating to a “buy” rating and set a $246.00 price objective for the company in a report on Monday, November 1st. BMO Capital Markets increased their price objective on shares of Enphase Energy from $220.00 to $284.00 and gave the company an “outperform” rating in a report on Thursday, November 18th. Susquehanna Bancshares increased their price objective on shares of Enphase Energy from $210.00 to $290.00 and gave the company a “positive” rating in a report on Wednesday, November 17th. Finally, B. Riley increased their price objective on shares of Enphase Energy from $157.00 to $180.00 and gave the company a “neutral” rating in a report on Wednesday, October 27th. They noted that the move was a valuation call. Nine analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Enphase Energy presently has an average rating of “Buy” and an average target price of $241.06.

The company has a debt-to-equity ratio of 1.45, a quick ratio of 4.33 and a current ratio of 4.49. The company has a market cap of $19.27 billion, a PE ratio of 124.21 and a beta of 1.21. The company’s 50-day simple moving average is $209.13 and its 200 day simple moving average is $187.88.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, October 26th. The semiconductor company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.11. Enphase Energy had a net margin of 13.44% and a return on equity of 37.82%. The business had revenue of $351.52 million for the quarter, compared to analyst estimates of $343.77 million. During the same period last year, the business earned $0.28 EPS. The company’s revenue was up 96.9% on a year-over-year basis. Analysts forecast that Enphase Energy, Inc. will post 1.45 EPS for the current year.

In related news, EVP David A. Ranhoff sold 66,272 shares of Enphase Energy stock in a transaction on Tuesday, November 16th. The shares were sold at an average price of $244.10, for a total transaction of $16,176,995.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Mandy Yang sold 9,453 shares of Enphase Energy stock in a transaction on Wednesday, November 3rd. The stock was sold at an average price of $233.50, for a total transaction of $2,207,275.50. The disclosure for this sale can be found here. Insiders sold a total of 196,932 shares of company stock worth $44,170,626 over the last 90 days. Company insiders own 5.00% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Kistler Tiffany Companies LLC raised its stake in Enphase Energy by 1,811.1% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 172 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 163 shares in the last quarter. Berman Capital Advisors LLC raised its stake in Enphase Energy by 271.0% during the 2nd quarter. Berman Capital Advisors LLC now owns 230 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 168 shares in the last quarter. Dark Forest Capital Management LP raised its stake in Enphase Energy by 481.0% during the 3rd quarter. Dark Forest Capital Management LP now owns 244 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 202 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in Enphase Energy by 48.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 278 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 91 shares in the last quarter. Finally, Arlington Partners LLC acquired a new stake in Enphase Energy during the 3rd quarter worth $53,000. Hedge funds and other institutional investors own 68.01% of the company’s stock.

Enphase Energy Company Profile (NASDAQ:ENPH)

Enphase Energy, Inc engages in the design, development, manufacture and sale of micro inverter systems for the solar photovoltaic industry. Its products include IQ 7 Microinverter Series, IQ Battery, IQ Envoy, IQ Microinverter Accessories, IQ Envoy Accessories and Enlighten & Apps. The company was founded by Raghuveer R.

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