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.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.09. Enphase Energy had a return on equity of 31.17% and a net margin of 2.63%. The firm had revenue of $134.09 million during the quarter, compared to analyst estimates of $120.36 million. During the same period last year, the company earned $0.02 EPS. Enphase Energy’s quarterly revenue was up 76.7% compared to the same quarter last year. Research analysts anticipate that Enphase Energy Inc will post 0.54 EPS for the current year.

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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