Enphase Energy (NASDAQ:ENPH) Shares Up 6.3% – Should You Buy?

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ENPH. Susquehanna dropped their target price on Enphase Energy from $79.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Barclays dropped their target price on Enphase Energy from $91.00 to $86.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. TD Cowen dropped their target price on Enphase Energy from $120.00 to $100.00 and set a “buy” rating for the company in a report on Monday, January 27th. Craig Hallum dropped their target price on Enphase Energy from $123.00 to $101.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Finally, Citigroup upped their price target on Enphase Energy from $71.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Enphase Energy presently has an average rating of “Hold” and an average target price of $90.42.

Enphase Energy Stock Up 9.2 %

The company has a market capitalization of $8.41 billion, a PE ratio of 85.31 and a beta of 2.12. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The company has a 50-day moving average of $63.40 and a two-hundred day moving average of $79.02.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. Sell-side analysts anticipate that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Insider Activity at Enphase Energy

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

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Empirical Finance LLC raised its holdings in Enphase Energy by 3.9% during the third quarter. Empirical Finance LLC now owns 3,673 shares of the semiconductor company’s stock valued at $415,000 after acquiring an additional 137 shares during the period. Gould Capital LLC increased its holdings in shares of Enphase Energy by 2.1% in the third quarter. Gould Capital LLC now owns 10,206 shares of the semiconductor company’s stock worth $1,153,000 after purchasing an additional 212 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Enphase Energy by 0.4% in the third quarter. Victory Capital Management Inc. now owns 53,032 shares of the semiconductor company’s stock worth $5,994,000 after purchasing an additional 228 shares during the last quarter. Avior Wealth Management LLC increased its holdings in shares of Enphase Energy by 6,975.0% in 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 during the last quarter. Finally, Resources Management Corp CT ADV increased its holdings in shares of Enphase Energy by 6.8% in the third quarter. Resources Management Corp CT ADV now owns 4,542 shares of the semiconductor company’s stock worth $513,000 after purchasing an additional 290 shares during the last quarter. 72.12% of the stock is owned by institutional investors.

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.