Enphase Energy (NASDAQ:ENPH) Shares Gap Up to $22.08
Enphase Energy Inc (NASDAQ:ENPH)’s share price gapped up prior to trading on Monday . The stock had previously closed at $20.59, but opened at $22.08. Enphase Energy shares last traded at $23.26, with a volume of 6,403,264 shares.
A number of equities analysts have recently commented on ENPH shares. Craig Hallum set a $31.00 target price on Enphase Energy and gave the stock a “buy” rating in a report on Wednesday, July 31st. Deutsche Bank upgraded Enphase Energy from a “hold” rating to a “buy” rating and lifted their target price for the stock from $100.00 to $120.00 in a report on Wednesday, July 31st. Roth Capital lifted their target price on Enphase Energy from $17.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Oppenheimer lifted their target price on Enphase Energy from $13.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, B. Riley reiterated a “buy” rating and issued a $21.00 target price on shares of Enphase Energy in a report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $33.68.
The company has a current ratio of 2.44, a quick ratio of 2.30 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $2.71 billion, a P/E ratio of -193.83 and a beta of 0.88. The stock has a 50 day moving average of $28.97 and a 200-day moving average of $17.62.
In related news, CEO Badrinarayanan Kothandaraman sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $24.75, for a total transaction of $247,500.00. Following the completion of the sale, the chief executive officer now directly owns 390,560 shares of the company’s stock, valued at approximately $9,666,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard Mora sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $31.03, for a total value of $1,861,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 107,500 shares of company stock valued at $3,174,900 over the last three months. 12.46% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of ENPH. Gilder Gagnon Howe & Co. LLC raised its position in Enphase Energy by 30.5% during the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 4,514,342 shares of the semiconductor company’s stock valued at $41,667,000 after purchasing an additional 1,053,833 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in Enphase Energy during the 2nd quarter valued at $18,900,000. Renaissance Technologies LLC raised its position in Enphase Energy by 387.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,270,628 shares of the semiconductor company’s stock valued at $23,164,000 after purchasing an additional 1,010,100 shares in the last quarter. BlackRock Inc. raised its position in Enphase Energy by 16.2% during the 2nd quarter. BlackRock Inc. now owns 6,678,030 shares of the semiconductor company’s stock valued at $121,742,000 after purchasing an additional 930,501 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Enphase Energy by 11.5% during the 2nd quarter. Vanguard Group Inc. now owns 5,274,251 shares of the semiconductor company’s stock valued at $96,149,000 after purchasing an additional 544,989 shares in the last quarter. 43.36% of the stock is owned by institutional investors and hedge funds.
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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