Enphase Energy Inc (NASDAQ:ENPH)’s share price shot up 6.8% during trading on Wednesday . The company traded as high as $4.44 and last traded at $4.25. 2,891,862 shares traded hands during mid-day trading, an increase of 121% from the average session volume of 1,308,013 shares. The stock had previously closed at $3.98.
A number of brokerages recently commented on ENPH. BidaskClub raised shares of Enphase Energy from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 9th. Zacks Investment Research downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Roth Capital raised shares of Enphase Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $2.40 to $5.00 in a research note on Wednesday, February 28th. Oppenheimer reissued a “buy” rating on shares of Enphase Energy in a research note on Monday, February 5th. Finally, ValuEngine downgraded shares of Enphase Energy from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $3.05.
The company has a quick ratio of 1.30, a current ratio of 1.59 and a debt-to-equity ratio of -4.75.
Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, February 27th. The semiconductor company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $79.67 million for the quarter, compared to the consensus estimate of $75.91 million. Enphase Energy had a negative return on equity of 1,232.10% and a negative net margin of 15.79%. sell-side analysts anticipate that Enphase Energy Inc will post -0.02 EPS for the current fiscal year.
In other news, CFO Humberto Garcia sold 16,375 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $2.75, for a total transaction of $45,031.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John Howard Weber sold 77,551 shares of the company’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $3.88, for a total value of $300,897.88. Following the transaction, the director now directly owns 27,763 shares in the company, valued at $107,720.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 96,537 shares of company stock worth $351,934. Insiders own 17.37% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC acquired a new position in shares of Enphase Energy in the 4th quarter valued at $517,000. Two Sigma Securities LLC acquired a new position in shares of Enphase Energy in the 4th quarter valued at $107,000. Goldman Sachs Group Inc. acquired a new position in shares of Enphase Energy in the 4th quarter valued at $128,000. Divisar Capital Management LLC increased its position in shares of Enphase Energy by 28.1% in the 4th quarter. Divisar Capital Management LLC now owns 1,680,106 shares of the semiconductor company’s stock valued at $4,049,000 after acquiring an additional 368,907 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Enphase Energy in the 4th quarter valued at $302,000. 26.72% of the stock is currently owned by hedge funds and other institutional investors.
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About Enphase Energy
Enphase Energy, Inc is a provider of energy management solutions. The Company is engaged in designing, developing, manufacturing and selling microinverter systems for the solar photovoltaic industry. Its semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity.
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