Enphase Energy (NASDAQ:ENPH) Trading Up 10.6% – Here’s What Happened

Enphase Energy, Inc. (NASDAQ:ENPH) shot up 10.6% during trading on Thursday . The stock traded as high as $39.83 and last traded at $39.7940. 4,386,607 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 5,957,209 shares. The stock had previously closed at $35.97.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ENPH shares. Wall Street Zen downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Northland Securities upped their price target on shares of Enphase Energy from $52.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, December 29th. JPMorgan Chase & Co. decreased their price target on shares of Enphase Energy from $37.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, December 8th. Mizuho cut Enphase Energy from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $50.00 to $37.00 in a report on Thursday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $35.00 target price on shares of Enphase Energy in a report on Wednesday, January 7th. Seven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and ten have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $41.09.

Enphase Energy Trading Up 12.5%

The company has a current ratio of 2.04, a quick ratio of 1.88 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average price of $31.78 and a two-hundred day moving average price of $34.61. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 27.92 and a beta of 1.35.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, October 28th. The semiconductor company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.60 by $0.30. The firm had revenue of $410.43 million during the quarter, compared to analysts’ expectations of $364.64 million. Enphase Energy had a return on equity of 25.67% and a net margin of 12.93%.The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 earnings per share. As a group, research analysts forecast that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Insider Activity at Enphase Energy

In related news, Director Thurman J. Rodgers sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $29.13, for a total transaction of $4,369,500.00. Following the completion of the sale, the director directly owned 1,733,596 shares in the company, valued at approximately $50,499,651.48. This trade represents a 7.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mandy Yang sold 6,000 shares of Enphase Energy stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $33.01, for a total transaction of $198,060.00. Following the transaction, the executive vice president directly owned 68,987 shares in the company, valued at $2,277,260.87. This trade represents a 8.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in Enphase Energy by 431.9% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 514 shares during the period. Glass Jacobson Investment Advisors llc raised its position in Enphase Energy by 77.8% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 350 shares during the period. Salomon & Ludwin LLC lifted its stake in shares of Enphase Energy by 761.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 861 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 761 shares during the last quarter. Stance Capital LLC purchased a new position in shares of Enphase Energy during the 3rd quarter worth $32,000. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Enphase Energy by 199.7% during the 3rd quarter. Geneos Wealth Management Inc. now owns 920 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 613 shares during the period. 72.12% of the stock is currently owned by institutional investors and hedge funds.

About Enphase Energy

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.