Enphase Energy Sees Unusually Large Options Volume (NASDAQ:ENPH)

Enphase Energy, Inc. (NASDAQ:ENPHGet Free Report) was the target of unusually large options trading activity on Thursday. Traders purchased 62,836 put options on the stock. This is an increase of 24% compared to the typical daily volume of 50,553 put options.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ENPH shares. TD Cowen upped their target price on shares of Enphase Energy from $140.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. BMO Capital Markets dropped their target price on Enphase Energy from $118.00 to $113.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 24th. JPMorgan Chase & Co. reduced their price target on Enphase Energy from $141.00 to $128.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Guggenheim cut shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $92.00 price target on the stock. in a research note on Wednesday, April 24th. Finally, Truist Financial reduced their price objective on shares of Enphase Energy from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, April 23rd. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and an average target price of $133.45.

View Our Latest Report on ENPH

Enphase Energy Stock Down 3.2 %

Shares of NASDAQ ENPH traded down $3.86 on Thursday, hitting $117.37. The company had a trading volume of 2,268,622 shares, compared to its average volume of 4,106,602. The company has a quick ratio of 3.78, a current ratio of 4.16 and a debt-to-equity ratio of 1.30. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $192.22. The firm has a market capitalization of $15.97 billion, a P/E ratio of 63.14, a PEG ratio of 4.12 and a beta of 1.50. The business has a 50 day moving average of $113.51 and a two-hundred day moving average of $113.15.

Enphase Energy (NASDAQ:ENPHGet Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The semiconductor company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.17). Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. The firm had revenue of $263.34 million during the quarter, compared to analyst estimates of $280.06 million. As a group, equities research analysts forecast that Enphase Energy will post 1.59 earnings per share for the current fiscal year.

Insider Transactions at Enphase Energy

In other Enphase Energy news, CFO Mandy Yang acquired 4,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was bought at an average price of $104.24 per share, for a total transaction of $416,960.00. Following the acquisition, the chief financial officer now owns 62,973 shares in the company, valued at $6,564,305.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Mandy Yang bought 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average price of $104.24 per share, for a total transaction of $416,960.00. Following the acquisition, the chief financial officer now owns 62,973 shares of the company’s stock, valued at $6,564,305.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 119,948 shares of the company’s stock, valued at approximately $13,948,752.92. The disclosure for this sale can be found here. Insiders have sold a total of 30,000 shares of company stock valued at $3,219,700 in the last ninety days. 3.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. lifted its holdings in Enphase Energy by 387,343.1% during the 4th quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock worth $539,102,000 after buying an additional 4,078,723 shares during the last quarter. Swedbank AB acquired a new position in Enphase Energy in the first quarter worth $424,130,000. Norges Bank bought a new stake in Enphase Energy during the fourth quarter valued at $149,425,000. Nordea Investment Management AB raised its holdings in shares of Enphase Energy by 158.8% during the fourth quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock worth $109,083,000 after purchasing an additional 501,385 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in shares of Enphase Energy in the 1st quarter worth about $59,128,000. 72.12% of the stock is owned by institutional investors and hedge funds.

About Enphase Energy

(Get Free Report)

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.

Further Reading

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