Enphase Energy (NASDAQ:ENPH) Shares Gap Down to $219.47

Enphase Energy, Inc. (NASDAQ:ENPHGet Rating)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $219.47, but opened at $207.17. Enphase Energy shares last traded at $207.46, with a volume of 857,930 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have commented on ENPH shares. Daiwa Capital Markets started coverage on Enphase Energy in a research report on Friday, December 23rd. They issued an “outperform” rating and a $335.00 target price for the company. Wells Fargo & Company dropped their target price on Enphase Energy from $344.00 to $326.00 and set an “overweight” rating for the company in a research report on Friday, January 6th. Needham & Company LLC increased their target price on Enphase Energy from $275.00 to $335.00 and gave the company a “buy” rating in a research report on Wednesday, October 26th. Truist Financial increased their target price on Enphase Energy from $265.00 to $290.00 and gave the company a “buy” rating in a research report on Tuesday, October 18th. Finally, Cowen increased their target price on Enphase Energy from $278.00 to $335.00 in a research report on Wednesday, October 26th. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $306.22.

Enphase Energy Stock Down 7.1 %

The company has a quick ratio of 3.34, a current ratio of 3.60 and a debt-to-equity ratio of 1.96. The stock has a 50 day simple moving average of $284.94 and a 200 day simple moving average of $278.47. The stock has a market cap of $27.72 billion, a price-to-earnings ratio of 98.03, a PEG ratio of 1.20 and a beta of 1.38.

Enphase Energy (NASDAQ:ENPHGet Rating) last announced its earnings results on Tuesday, October 25th. The semiconductor company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.11. The company had revenue of $634.71 million for the quarter, compared to analysts’ expectations of $616.50 million. Enphase Energy had a return on equity of 76.66% and a net margin of 14.67%. As a group, analysts expect that Enphase Energy, Inc. will post 3.18 earnings per share for the current fiscal year.

Insider Activity at Enphase Energy

In related news, CFO Mandy Yang sold 9,454 shares of Enphase Energy stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $297.54, for a total transaction of $2,812,943.16. Following the transaction, the chief financial officer now owns 88,399 shares of the company’s stock, valued at $26,302,238.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Badrinarayanan Kothandaraman sold 82,347 shares of Enphase Energy stock in a transaction on Friday, December 9th. The stock was sold at an average price of $317.48, for a total transaction of $26,143,525.56. Following the sale, the chief executive officer now directly owns 1,167,786 shares in the company, valued at $370,748,699.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mandy Yang sold 9,454 shares of Enphase Energy stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $297.54, for a total value of $2,812,943.16. Following the sale, the chief financial officer now owns 88,399 shares in the company, valued at $26,302,238.46. The disclosure for this sale can be found here. Insiders have sold a total of 201,128 shares of company stock valued at $63,385,815 over the last 90 days. Insiders own 4.80% of the company’s stock.

Institutional Trading of Enphase Energy

A number of hedge funds have recently bought and sold shares of the business. Two Sigma Advisers LP raised its stake in shares of Enphase Energy by 850.3% in the third quarter. Two Sigma Advisers LP now owns 1,418,909 shares of the semiconductor company’s stock valued at $393,705,000 after buying an additional 1,269,600 shares during the period. Two Sigma Investments LP bought a new stake in shares of Enphase Energy in the third quarter valued at $235,387,000. Jennison Associates LLC raised its stake in shares of Enphase Energy by 272.4% in the third quarter. Jennison Associates LLC now owns 890,322 shares of the semiconductor company’s stock valued at $247,038,000 after buying an additional 651,254 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Enphase Energy in the third quarter valued at $178,809,000. Finally, Marshall Wace LLP raised its stake in shares of Enphase Energy by 20,574.9% in the third quarter. Marshall Wace LLP now owns 610,944 shares of the semiconductor company’s stock valued at $169,521,000 after buying an additional 607,989 shares during the period. 73.79% of the stock is currently owned by institutional investors.

Enphase Energy Company Profile

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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 services.

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