Enphase Energy (NASDAQ:ENPH) Trading 5% Higher – Should You Buy?

Enphase Energy, Inc. (NASDAQ:ENPH) rose 5% on Monday . The company traded as high as $64.05 and last traded at $64.69. Approximately 634,127 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 4,306,243 shares. The stock had previously closed at $61.63.

Wall Street Analysts Forecast Growth

ENPH has been the topic of a number of research analyst reports. Craig Hallum cut their target price on Enphase Energy from $123.00 to $101.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. Canaccord Genuity Group raised shares of Enphase Energy from a “hold” rating to a “buy” rating and lifted their price target for the stock from $76.00 to $82.00 in a report on Wednesday, February 5th. Redburn Atlantic started coverage on shares of Enphase Energy in a report on Monday, March 3rd. They issued a “neutral” rating on the stock. Royal Bank of Canada lowered their price target on shares of Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating on the stock in a report on Friday, November 22nd. Finally, Barclays lowered their price target on shares of Enphase Energy from $91.00 to $86.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $90.42.

Enphase Energy Price Performance

The firm’s 50-day moving average is $64.15 and its 200-day moving average is $80.39. The company has a market capitalization of $8.06 billion, a PE ratio of 82.20 and a beta of 2.12. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44.

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

Insider Buying and Selling at Enphase Energy

In related news, CFO Mandy Yang sold 1,319 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the completion of the transaction, the chief financial officer now directly owns 78,524 shares of the company’s stock, valued at $4,972,139.68. This represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thurman J. Rodgers sold 100,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the sale, the director now owns 1,881,760 shares of the company’s stock, valued at $115,276,617.60. This trade represents a 5.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Institutional Trading of Enphase Energy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Enphase Energy by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company’s stock worth $1,135,707,000 after buying an additional 44,782 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of Enphase Energy by 32.0% during the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock valued at $574,975,000 after purchasing an additional 2,028,691 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Enphase Energy by 43.4% during the fourth quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company’s stock valued at $313,034,000 after purchasing an additional 1,378,978 shares during the last quarter. Swedbank AB lifted its holdings in shares of Enphase Energy by 0.3% during the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after purchasing an additional 11,890 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Enphase Energy by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 3,429,909 shares of the semiconductor company’s stock valued at $234,994,000 after purchasing an additional 47,593 shares during the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Company Profile

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.