Enphase Energy (NASDAQ:ENPH) shot up 1.2% during mid-day trading on Thursday . The company traded as high as $6.04 and last traded at $5.65. 83,628 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 1,595,823 shares. The stock had previously closed at $5.72.
Several research analysts have weighed in on ENPH shares. HC Wainwright started coverage on shares of Enphase Energy in a research note on Wednesday. They set a “buy” rating and a $8.00 target price for the company. ValuEngine raised shares of Enphase Energy from a “sell” rating to a “hold” rating in a research note on Friday, May 11th. Cowen increased their target price on shares of Enphase Energy from $3.50 to $5.50 and gave the stock an “outperform” rating in a research note on Tuesday, April 24th. B. Riley started coverage on shares of Enphase Energy in a research note on Monday, March 26th. They set a “buy” rating and a $6.00 target price for the company. Finally, Roth Capital set a $6.00 target price on shares of Enphase Energy and gave the stock a “buy” rating in a research note on Thursday, March 22nd. Four investment 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 $5.25.
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The company has a current ratio of 1.43, a quick ratio of 1.25 and a debt-to-equity ratio of -1.17. The company has a market capitalization of $513.30 million, a price-to-earnings ratio of -10.22 and a beta of 0.37.
Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, May 1st. The semiconductor company reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. The company had revenue of $70.00 million for the quarter, compared to analysts’ expectations of $67.06 million. During the same period last year, the business earned ($0.18) EPS. The company’s quarterly revenue was up 27.9% compared to the same quarter last year. analysts predict that Enphase Energy will post -0.02 earnings per share for the current fiscal year.
In other news, Director John Howard Weber sold 77,551 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $3.88, for a total value of $300,897.88. Following the completion of the transaction, the director now owns 27,763 shares of the company’s stock, valued at $107,720.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Badrinarayanan Kothandaraman acquired 40,000 shares of the stock in a transaction dated Thursday, March 1st. The stock was acquired at an average cost of $3.32 per share, with a total value of $132,800.00. Following the purchase, the chief executive officer now owns 80,677 shares of the company’s stock, valued at approximately $267,847.64. The disclosure for this purchase can be found here. Company insiders own 13.52% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Wasatch Advisors Inc. boosted its stake in shares of Enphase Energy by 20.0% in the first quarter. Wasatch Advisors Inc. now owns 300,000 shares of the semiconductor company’s stock valued at $1,371,000 after purchasing an additional 50,000 shares during the period. EAM Investors LLC purchased a new position in shares of Enphase Energy in the fourth quarter valued at approximately $2,086,000. Engineers Gate Manager LP purchased a new position in shares of Enphase Energy in the fourth quarter valued at approximately $244,000. Royce & Associates LP purchased a new position in shares of Enphase Energy in the fourth quarter valued at approximately $1,533,000. Finally, Monashee Investment Management LLC purchased a new position in shares of Enphase Energy in the fourth quarter valued at approximately $133,000. 24.77% of the stock is owned by institutional investors and hedge funds.
About Enphase Energy
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 electricity to alternating current (AC) electricity at the individual solar module level.
