A number of other research firms also recently weighed in on ENPH. Deutsche Bank raised Enphase Energy from a “hold” rating to a “buy” rating and increased their price target for the company from $100.00 to $120.00 in a research note on Wednesday. Oppenheimer increased their price target on Enphase Energy from $13.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday. HC Wainwright raised Enphase Energy from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Wednesday. B. Riley reissued a “buy” rating and issued a $21.00 price target on shares of Enphase Energy in a research note on Wednesday, June 12th. Finally, TheStreet raised Enphase Energy from a “c” rating to a “b-” rating in a research note on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company’s stock. Enphase Energy currently has a consensus rating of “Buy” and a consensus target price of $32.25.
Shares of ENPH stock traded down $0.98 during trading hours on Thursday, reaching $29.12. The company had a trading volume of 6,589,816 shares, compared to its average volume of 4,408,511. The firm’s 50 day simple moving average is $19.81. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.42 and a current ratio of 2.44. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of -242.67 and a beta of 1.01. Enphase Energy has a 1-year low of $3.70 and a 1-year high of $31.17.
In related news, VP David A. Ranhoff sold 63,516 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $14.62, for a total value of $928,603.92. Following the completion of the sale, the vice president now owns 790,517 shares in the company, valued at approximately $11,557,358.54. The transaction was disclosed in a filing with the SEC, which is available through this link. 12.46% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC purchased a new position in Enphase Energy in the 4th quarter valued at $66,000. BlackRock Inc. lifted its holdings in Enphase Energy by 2.8% in the 4th quarter. BlackRock Inc. now owns 5,688,416 shares of the semiconductor company’s stock valued at $26,907,000 after purchasing an additional 154,094 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Enphase Energy by 18.7% in the 4th quarter. Bank of New York Mellon Corp now owns 378,003 shares of the semiconductor company’s stock valued at $1,788,000 after purchasing an additional 59,534 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Enphase Energy by 24.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 12,605 shares of the semiconductor company’s stock valued at $60,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Enphase Energy by 0.3% in the 4th quarter. Northern Trust Corp now owns 930,434 shares of the semiconductor company’s stock valued at $4,402,000 after purchasing an additional 2,423 shares in the last quarter. Institutional investors and hedge funds own 48.47% of the company’s stock.
About Enphase Energy
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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