Enphase Energy (ENPH) Sees Strong Trading Volume

Enphase Energy Inc (NASDAQ:ENPH) saw unusually-strong trading volume on Monday . Approximately 270,885 shares were traded during mid-day trading, a decline of 94% from the previous session’s volume of 4,288,252 shares.The stock last traded at $6.86 and had previously closed at $6.75.

Several research analysts have issued reports on ENPH shares. Craig Hallum increased their price objective on Enphase Energy from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Tuesday, June 5th. BidaskClub cut Enphase Energy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 11th. Cowen set a $6.00 price objective on Enphase Energy and gave the stock a “buy” rating in a research report on Wednesday, April 25th. B. Riley set a $8.00 price objective on Enphase Energy and gave the stock a “buy” rating in a research report on Wednesday, June 13th. Finally, Roth Capital set a $6.00 price objective on Enphase Energy and gave the stock a “buy” rating in a research report on Thursday, March 22nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $6.86.

The stock has a market cap of $641.14 million, a price-to-earnings ratio of -12.70 and a beta of 0.45. The company has a debt-to-equity ratio of -1.17, a current ratio of 1.43 and a quick ratio of 1.25.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, May 1st. The semiconductor company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The firm had revenue of $70.00 million during the quarter, compared to analysts’ expectations of $67.06 million. During the same quarter in the prior year, the business earned ($0.18) EPS. The company’s quarterly revenue was up 27.9% compared to the same quarter last year. analysts forecast that Enphase Energy Inc will post -0.02 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in ENPH. Two Sigma Securities LLC acquired a new stake in shares of Enphase Energy during the fourth quarter valued at $107,000. Wade G W & Inc. acquired a new stake in shares of Enphase Energy during the fourth quarter valued at $108,000. Goldman Sachs Group Inc. acquired a new stake in shares of Enphase Energy during the fourth quarter valued at $128,000. Verition Fund Management LLC acquired a new stake in shares of Enphase Energy during the first quarter valued at $131,000. Finally, Jane Street Group LLC acquired a new stake in shares of Enphase Energy during the first quarter valued at $133,000. Institutional investors and hedge funds own 30.01% of the company’s stock.

Enphase Energy Company Profile

Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells microinverter systems for residential and commercial markets in the United States and internationally. The company's semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity at the individual solar module level.

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