Enphase Energy (NASDAQ:ENPH) Shares Gap Up – What’s Next?

Enphase Energy, Inc. (NASDAQ:ENPH)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $65.67, but opened at $68.14. Enphase Energy shares last traded at $69.81, with a volume of 915,815 shares traded.

Analysts Set New Price Targets

Several research firms have issued reports on ENPH. Northland Securities reduced their price objective on Enphase Energy from $110.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. The Goldman Sachs Group cut their price target on Enphase Energy from $121.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Susquehanna cut their price target on Enphase Energy from $79.00 to $76.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Canaccord Genuity Group raised Enphase Energy from a “hold” rating to a “buy” rating and increased their price target for the company from $76.00 to $82.00 in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada cut their price target on Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating on the stock in a research note on Friday, November 22nd. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Enphase Energy presently has an average rating of “Hold” and a consensus price target of $90.42.

Enphase Energy Stock Performance

The stock has a fifty day simple moving average of $66.89 and a 200-day simple moving average of $85.48. The stock has a market cap of $8.59 billion, a P/E ratio of 87.64 and a beta of 1.68. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53.

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

Hedge Funds Weigh In On Enphase Energy

Several hedge funds have recently modified their holdings of ENPH. Creative Planning grew its holdings in shares of Enphase Energy by 49.7% in the 3rd quarter. Creative Planning now owns 16,204 shares of the semiconductor company’s stock valued at $1,831,000 after acquiring an additional 5,379 shares in the last quarter. Swedbank AB grew its holdings in shares of Enphase Energy by 0.3% in the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after acquiring an additional 11,890 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Enphase Energy by 109.1% in the 3rd quarter. Blue Trust Inc. now owns 437 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 228 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Enphase Energy in the 3rd quarter valued at about $243,000. Finally, Signaturefd LLC grew its holdings in shares of Enphase Energy by 29.7% in the 3rd quarter. Signaturefd LLC now owns 1,240 shares of the semiconductor company’s stock valued at $140,000 after acquiring an additional 284 shares in 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.