Enphase Energy (NASDAQ:ENPH) Shares Up 10.8% - What's Next?

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) shares traded up 10.8% during mid-day trading on Tuesday . The stock traded as high as $38.14 and last traded at $38.30. 8,276,287 shares were traded during mid-day trading, an increase of 44% from the average session volume of 5,729,117 shares. The stock had previously closed at $34.56.

Analyst Ratings Changes

Several brokerages have recently issued reports on ENPH. Susquehanna lowered their price objective on shares of Enphase Energy from $59.00 to $51.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Oppenheimer set a $84.00 price target on Enphase Energy and gave the company an "outperform" rating in a research note on Wednesday, April 23rd. Guggenheim reiterated a "sell" rating and set a $33.00 price objective on shares of Enphase Energy in a report on Wednesday, April 23rd. BMO Capital Markets restated an "underperform" rating and issued a $39.00 target price (down previously from $46.00) on shares of Enphase Energy in a research note on Tuesday, May 13th. Finally, Barclays cut shares of Enphase Energy from an "overweight" rating to an "underweight" rating and decreased their price target for the stock from $51.00 to $40.00 in a research note on Tuesday, May 13th. Twelve equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $65.44.

Enphase Energy Trading Up 11.1%

The company has a current ratio of 1.90, a quick ratio of 1.77 and a debt-to-equity ratio of 0.70. The company has a market cap of $5.04 billion, a price-to-earnings ratio of 35.54 and a beta of 1.70. The firm's 50-day moving average price is $44.72 and its 200 day moving average price is $57.24.

Insider Activity at Enphase Energy

In other news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the business's stock in a transaction on Friday, April 25th. The shares were purchased at an average cost of $46.35 per share, with a total value of $185,400.00. Following the acquisition, the chief executive officer now directly owns 1,598,696 shares of the company's stock, valued at $74,099,559.60. The trade was a 0.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Enphase Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENPH. CX Institutional purchased a new stake in shares of Enphase Energy during the first quarter valued at approximately $29,000. First Horizon Advisors Inc. raised its position in Enphase Energy by 83.0% in the first quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock worth $35,000 after acquiring an additional 258 shares during the period. SVB Wealth LLC purchased a new position in Enphase Energy in the first quarter valued at about $38,000. Brooklyn Investment Group grew its position in shares of Enphase Energy by 124.7% during the 1st quarter. Brooklyn Investment Group now owns 663 shares of the semiconductor company's stock valued at $41,000 after acquiring an additional 368 shares during the period. Finally, Venturi Wealth Management LLC lifted its stake in Enphase Energy by 318.1% in the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company's stock valued at $46,000 after purchasing an additional 509 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company's stock.

Enphase Energy Company Profile

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.

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