Enphase Energy (NASDAQ:ENPH) Stock Price Up 2.5% – Should You Buy?

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) traded up 2.5% during trading on Friday . The stock traded as high as $62.30 and last traded at $62.22. 858,849 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 4,055,289 shares. The stock had previously closed at $60.71.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ENPH. Truist Financial reissued a “hold” rating and set a $65.00 target price (down from $100.00) on shares of Enphase Energy in a research report on Thursday, January 16th. Guggenheim upgraded Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 target price on the stock in a research note on Friday, January 31st. Craig Hallum decreased their price objective on Enphase Energy from $123.00 to $101.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Glj Research reaffirmed a “sell” rating and set a $50.69 price objective on shares of Enphase Energy in a report on Tuesday, February 4th. Finally, OTR Global upgraded shares of Enphase Energy from a “negative” rating to a “mixed” rating in a research note on Friday, December 20th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $90.36.

Enphase Energy Stock Performance

The firm has a market cap of $8.20 billion, a P/E ratio of 83.92 and a beta of 2.12. The business’s fifty day simple moving average is $62.28 and its 200-day simple moving average is $76.16. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. As a group, sell-side analysts expect that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the transaction, the director now owns 1,881,760 shares of the company’s stock, valued at approximately $115,276,617.60. This trade represents a 5.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mandy Yang sold 1,319 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction of $83,519.08. Following the sale, the chief financial officer now owns 78,524 shares in the company, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Quarry LP bought a new stake in shares of Enphase Energy in the 3rd quarter worth approximately $37,000. Brooklyn Investment Group purchased a new position in Enphase Energy during the third quarter valued at $55,000. Venturi Wealth Management LLC boosted its holdings in Enphase Energy by 318.1% in the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 509 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Enphase Energy in the fourth quarter worth $47,000. Finally, GeoWealth Management LLC increased its holdings in shares of Enphase Energy by 56.3% during the fourth quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 321 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

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.