Enphase Energy (NASDAQ:ENPH) Shares Up 6% – Here’s What Happened

by · The Markets Daily

Enphase Energy, Inc. (NASDAQ:ENPHGet Free Report) was up 6% on Friday . The stock traded as high as $44.88 and last traded at $45.16. Approximately 673,356 shares traded hands during trading, a decline of 91% from the average daily volume of 7,198,362 shares. The stock had previously closed at $42.60.

Key Stories Impacting Enphase Energy

Here are the key news stories impacting Enphase Energy this week:

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ENPH shares. Mizuho set a $39.00 target price on Enphase Energy in a report on Wednesday, February 4th. Morgan Stanley reissued an “underweight” rating and set a $30.00 price target on shares of Enphase Energy in a research report on Wednesday, February 4th. Citigroup increased their price objective on Enphase Energy from $37.00 to $41.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft raised their price objective on Enphase Energy from $35.00 to $38.00 and gave the stock a “hold” rating in a research report on Wednesday, February 4th. Finally, Raymond James Financial initiated coverage on Enphase Energy in a report on Monday, January 12th. They issued a “market perform” rating on the stock. Ten analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and nine have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $43.28.

Read Our Latest Research Report on ENPH

Enphase Energy Trading Up 4.6%

The company has a debt-to-equity ratio of 0.53, a current ratio of 2.07 and a quick ratio of 1.84. The company has a fifty day moving average of $41.37 and a 200-day moving average of $36.48. The firm has a market capitalization of $5.84 billion, a PE ratio of 34.45 and a beta of 1.35.

Enphase Energy (NASDAQ:ENPHGet Free Report) last issued its earnings results on Tuesday, February 3rd. The semiconductor company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.19. Enphase Energy had a return on equity of 20.31% and a net margin of 11.69%.The firm had revenue of $343.32 million for the quarter, compared to the consensus estimate of $340.45 million. During the same quarter in the previous year, the company posted $0.94 earnings per share. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Insider Activity at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 5,000 shares of Enphase Energy stock in a transaction on Thursday, February 5th. The stock was purchased at an average cost of $51.98 per share, for a total transaction of $259,900.00. Following the completion of the purchase, the chief executive officer directly owned 1,640,632 shares of the company’s stock, valued at $85,280,051.36. The trade was a 0.31% 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 link. Also, Director Richard Mora sold 1,100 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $52.05, for a total transaction of $57,255.00. Following the completion of the sale, the director directly owned 9,370 shares of the company’s stock, valued at $487,708.50. This represents a 10.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ENPH. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Enphase Energy by 431.9% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 514 shares during the last quarter. Glass Jacobson Investment Advisors llc raised its holdings in Enphase Energy by 77.8% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 350 shares in the last quarter. Salomon & Ludwin LLC lifted its position in shares of Enphase Energy by 761.0% in the third quarter. Salomon & Ludwin LLC now owns 861 shares of the semiconductor company’s stock worth $32,000 after buying an additional 761 shares during the last quarter. Stance Capital LLC bought a new stake in shares of Enphase Energy during the 3rd quarter worth about $32,000. Finally, Geneos Wealth Management Inc. boosted its stake 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 acquiring an additional 613 shares in the last quarter. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Company Profile

(Get Free Report)

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.

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