Shares of Enphase Energy Inc (NASDAQ:ENPH) traded up 1.9% during trading on Wednesday . The company traded as high as $17.15 and last traded at $17.40. 121,514 shares were traded during mid-day trading, a decline of 95% from the average session volume of 2,419,467 shares. The stock had previously closed at $17.07.
Several research firms have recently commented on ENPH. BidaskClub downgraded shares of Enphase Energy from a “strong-buy” rating to a “buy” rating in a report on Tuesday. B. Riley reaffirmed a “buy” rating and set a $21.00 price objective on shares of Enphase Energy in a research note on Wednesday. TheStreet upgraded Enphase Energy from a “c” rating to a “b-” rating in a research report on Tuesday, May 21st. ValuEngine upgraded Enphase Energy from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 1st. Finally, Craig Hallum reissued a “buy” rating and set a $17.00 price objective (up from $10.00) on shares of Enphase Energy in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Enphase Energy has an average rating of “Buy” and a consensus target price of $13.21.
The company has a debt-to-equity ratio of 4.63, a current ratio of 1.52 and a quick ratio of 1.42. The firm has a market capitalization of $1.88 billion, a P/E ratio of -142.33 and a beta of 0.81.
Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.03. The business had revenue of $100.15 million for the quarter, compared to analyst estimates of $92.26 million. During the same quarter in the prior year, the company earned ($0.01) earnings per share. The company’s quarterly revenue was up 43.1% on a year-over-year basis. Equities research analysts anticipate that Enphase Energy Inc will post 0.36 EPS for the current year.
In other news, CFO Eric Branderiz sold 30,935 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $8.88, for a total transaction of $274,702.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David A. Ranhoff sold 63,516 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $14.62, for a total transaction of $928,603.92. Following the sale, the vice president now directly owns 790,517 shares of the company’s stock, valued at $11,557,358.54. The disclosure for this sale can be found here. Insiders sold 96,561 shares of company stock worth $1,222,613 in the last 90 days. Company insiders own 12.46% of the company’s stock.
A number of institutional investors have recently bought and sold shares of ENPH. Marathon Capital Management boosted its position in Enphase Energy by 2.1% during the 4th quarter. Marathon Capital Management now owns 442,700 shares of the semiconductor company’s stock valued at $2,093,000 after buying an additional 9,225 shares during the period. Westside Investment Management Inc. grew its stake in shares of Enphase Energy by 28.4% in the fourth quarter. Westside Investment Management Inc. now owns 8,986 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 1,986 shares during the period. Redmond Asset Management LLC purchased a new position in shares of Enphase Energy in the first quarter worth approximately $861,000. Two Sigma Advisers LP boosted its holdings in shares of Enphase Energy by 0.6% in the fourth quarter. Two Sigma Advisers LP now owns 418,709 shares of the semiconductor company’s stock worth $1,980,000 after buying an additional 2,500 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in Enphase Energy by 2.8% during the fourth quarter. BlackRock Inc. now owns 5,688,416 shares of the semiconductor company’s stock valued at $26,907,000 after purchasing an additional 154,094 shares in the last quarter. 48.41% of the stock is currently owned by institutional investors and hedge funds.
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About Enphase Energy (NASDAQ:ENPH)
Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control services.
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