Enphase Energy (NASDAQ:ENPH) Stock Price Up 1.9%

Enphase Energy Inc (NASDAQ:ENPH) rose 1.9% on Wednesday . The company traded as high as $17.15 and last traded at $17.40. Approximately 121,514 shares traded hands during trading, a decline of 95% from the average daily volume of 2,419,467 shares. The stock had previously closed at $17.07.

Several equities research analysts have commented on ENPH shares. Raymond James cut shares of Enphase Energy from a “market perform” rating to an “underperform” rating in a research report on Tuesday, March 19th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Friday, March 1st. HC Wainwright reiterated a “buy” rating and issued a $12.00 price target (up from $9.00) on shares of Enphase Energy in a research report on Thursday, February 28th. ValuEngine upgraded shares of Enphase Energy from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 1st. Finally, B. Riley reiterated a “buy” rating and issued a $21.00 price target on shares of Enphase Energy in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Enphase Energy currently has a consensus rating of “Buy” and a consensus price target of $13.21.

The company has a quick ratio of 1.42, a current ratio of 1.52 and a debt-to-equity ratio of 4.63. The firm has a market capitalization of $1.88 billion, a P/E ratio of -145.92 and a beta of 0.83.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, April 30th. The semiconductor company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. The company had revenue of $100.15 million during the quarter, compared to analyst estimates of $92.26 million. The company’s quarterly revenue was up 43.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.01) EPS. On average, equities analysts forecast that Enphase Energy Inc will post 0.36 earnings per share for the current fiscal year.

In related news, CFO Eric Branderiz sold 30,935 shares of Enphase Energy stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $8.88, for a total transaction of $274,702.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David A. Ranhoff sold 63,516 shares of Enphase Energy stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $14.62, for a total value of $928,603.92. Following the sale, the vice president now directly owns 790,517 shares of the company’s stock, valued at $11,557,358.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,561 shares of company stock valued at $1,222,613. 12.46% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its position in Enphase Energy by 0.8% during the 1st quarter. Rhumbline Advisers now owns 126,367 shares of the semiconductor company’s stock worth $1,166,000 after acquiring an additional 1,052 shares during the last quarter. Westside Investment Management Inc. grew its position in shares of Enphase Energy by 28.4% in the 4th quarter. Westside Investment Management Inc. now owns 8,986 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 1,986 shares during the last quarter. Northern Trust Corp grew its position in shares of Enphase Energy by 0.3% in the 4th quarter. Northern Trust Corp now owns 930,434 shares of the semiconductor company’s stock valued at $4,402,000 after buying an additional 2,423 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Enphase Energy by 24.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 12,605 shares of the semiconductor company’s stock valued at $60,000 after buying an additional 2,500 shares during the last quarter. Finally, Two Sigma Advisers LP grew its position in shares of Enphase Energy by 0.6% in the 4th quarter. Two Sigma Advisers LP now owns 418,709 shares of the semiconductor company’s stock valued at $1,980,000 after buying an additional 2,500 shares during the last quarter. 48.41% of the stock is owned by institutional investors and hedge funds.

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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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