Enphase Energy (NASDAQ:ENPH) Stock Price Up 6.9%

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) was up 6.9% on Wednesday . The stock traded as high as $120.93 and last traded at $119.21. Approximately 3,019,216 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 4,067,312 shares. The stock had previously closed at $111.50.

Analysts Set New Price Targets

Several research analysts recently commented on ENPH shares. Piper Sandler reiterated a "neutral" rating and issued a $111.00 price target (down previously from $113.00) on shares of Enphase Energy in a research note on Wednesday, April 24th. TD Cowen boosted their price target on Enphase Energy from $140.00 to $145.00 and gave the stock a "buy" rating in a research note on Wednesday, April 24th. Canaccord Genuity Group cut their price target on Enphase Energy from $132.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, April 24th. Truist Financial cut their price objective on Enphase Energy from $145.00 to $130.00 and set a "buy" rating on the stock in a research note on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. cut their price objective on Enphase Energy from $141.00 to $128.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 24th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $133.45.

Enphase Energy Price Performance

The stock has a fifty day moving average price of $113.45 and a 200-day moving average price of $113.10. The company has a market cap of $16.49 billion, a PE ratio of 61.10, a price-to-earnings-growth ratio of 4.06 and a beta of 1.50. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.16 and a quick ratio of 3.78.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its earnings results on Tuesday, April 23rd. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.17). The business had revenue of $263.34 million during the quarter, compared to analysts' expectations of $280.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. On average, equities analysts expect that Enphase Energy, Inc. will post 1.59 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the business's stock in a transaction that occurred on Tuesday, February 27th. The stock was acquired at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the acquisition, the chief executive officer now owns 1,655,171 shares in the company, valued at $199,514,312.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $116.29, for a total transaction of $581,450.00. Following the transaction, the executive vice president now directly owns 119,948 shares of the company's stock, valued at $13,948,752.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were acquired at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the transaction, the chief executive officer now directly owns 1,655,171 shares of the company's stock, valued at $199,514,312.34. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 30,000 shares of company stock worth $3,219,700. Corporate insiders own 3.40% of the company's stock.

Institutional Investors Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Swedbank AB acquired a new stake in shares of Enphase Energy in the first quarter valued at about $424,130,000. National Wealth Management Group LLC acquired a new stake in shares of Enphase Energy in the first quarter valued at about $511,000. New Covenant Trust Company N.A. acquired a new stake in shares of Enphase Energy in the first quarter valued at about $233,000. Plato Investment Management Ltd grew its position in Enphase Energy by 155.8% during the first quarter. Plato Investment Management Ltd now owns 862 shares of the semiconductor company's stock worth $104,000 after buying an additional 525 shares in the last quarter. Finally, California State Teachers Retirement System grew its position in Enphase Energy by 2.0% during the first quarter. California State Teachers Retirement System now owns 228,004 shares of the semiconductor company's stock worth $27,584,000 after buying an additional 4,469 shares in the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

About Enphase Energy

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.