Enphase Energy (NASDAQ:ENPH) Stock Price Up 2.5% – Still a Buy?

Enphase Energy, Inc. (NASDAQ:ENPH) traded up 2.5% during mid-day trading on Friday . The stock traded as high as $62.30 and last traded at $62.22. 858,849 shares were traded during mid-day trading, a decline of 79% from the average session volume of 4,055,289 shares. The stock had previously closed at $60.71.

Wall Street Analysts Forecast Growth

ENPH has been the subject of several analyst reports. Guggenheim raised shares of Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 price target for the company in a research report on Friday, January 31st. Glj Research reissued a “sell” rating and issued a $50.69 target price on shares of Enphase Energy in a report on Tuesday, February 4th. Redburn Atlantic initiated coverage on Enphase Energy in a report on Monday, March 3rd. They set a “neutral” rating on the stock. TD Cowen decreased their target price on Enphase Energy from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Finally, Morgan Stanley dropped their price target on shares of Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $90.36.

Enphase Energy Price Performance

The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. The firm has a fifty day simple moving average of $62.28 and a two-hundred day simple moving average of $76.16. The firm has a market cap of $8.20 billion, a PE ratio of 83.92 and a beta of 2.12.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. Equities analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Insider Buying and Selling

In other Enphase Energy news, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction on Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction 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. The trade was 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 through this hyperlink. Also, Director Thurman J. Rodgers sold 100,000 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the transaction, the director now owns 1,881,760 shares in the company, valued at $115,276,617.60. This trade represents a 5.05 % decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Quarry LP bought a new stake in shares of Enphase Energy during the 3rd quarter worth approximately $37,000. Brooklyn Investment Group purchased a new stake in Enphase Energy in the third quarter worth $55,000. Venturi Wealth Management LLC lifted its position in shares of Enphase Energy by 318.1% during the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 509 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Enphase Energy during the fourth quarter valued at $47,000. Finally, GeoWealth Management LLC grew its holdings in shares of Enphase Energy by 56.3% in the fourth quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 321 shares during the last quarter. Institutional investors own 72.12% of the company’s stock.

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.