Enphase Energy (NASDAQ:ENPH) Shares Up 6.3% – Still a Buy?

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) rose 6.3% during mid-day trading on Monday . The stock traded as high as $61.69 and last traded at $61.78. Approximately 1,075,606 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 4,258,008 shares. The stock had previously closed at $58.13.

Analyst Upgrades and Downgrades

ENPH has been the topic of several research reports. Glj Research reaffirmed a “sell” rating and issued a $50.69 target price on shares of Enphase Energy in a report on Tuesday, February 4th. Canaccord Genuity Group upgraded Enphase Energy from a “hold” rating to a “buy” rating and lifted their price target for the stock from $76.00 to $82.00 in a research report on Wednesday, February 5th. Citigroup lifted their price target on Enphase Energy from $71.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. Morgan Stanley dropped their price target on Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group dropped their price target on Enphase Energy from $121.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Enphase Energy has an average rating of “Hold” and a consensus price target of $90.42.

Enphase Energy Stock Up 9.2 %

The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of 85.31 and a beta of 2.12. The business has a fifty day moving average of $63.40 and a 200 day moving average of $79.02. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. As a group, equities analysts predict that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Insider Activity at Enphase Energy

In other Enphase Energy news, CFO Mandy Yang sold 1,319 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction of $83,519.08. Following the transaction, the chief financial officer now directly owns 78,524 shares in the company, valued at $4,972,139.68. This represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thurman J. Rodgers sold 100,000 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the transaction, the director now owns 1,881,760 shares in the company, valued at $115,276,617.60. This trade represents a 5.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Avior Wealth Management LLC lifted its stake in Enphase Energy by 6,975.0% during the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 279 shares in the last quarter. Stone House Investment Management LLC acquired a new position in Enphase Energy during the third quarter worth $34,000. Quarry LP acquired a new position in Enphase Energy during the third quarter worth $37,000. Brooklyn Investment Group purchased a new stake in shares of Enphase Energy during the third quarter worth $55,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Enphase Energy during the third quarter worth $62,000. 72.12% of the stock is currently 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.