Enphase Energy (NASDAQ:ENPH) Stock Price Up 5% – Time to Buy?

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

Analyst Upgrades and Downgrades

ENPH has been the topic of a number of research reports. Redburn Atlantic began coverage on shares of Enphase Energy in a research report on Monday, March 3rd. They set a “neutral” rating on the stock. Canaccord Genuity Group upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and boosted their target price for the company from $76.00 to $82.00 in a research note on Wednesday, February 5th. Citigroup boosted their price objective on Enphase Energy from $71.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group lowered their target price on Enphase Energy from $121.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Finally, Craig Hallum decreased their price target on shares of Enphase Energy from $123.00 to $101.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Enphase Energy has an average rating of “Hold” and an average target price of $90.42.

Enphase Energy Trading Up 5.7 %

The company has a market cap of $8.63 billion, a P/E ratio of 88.03 and a beta of 2.12. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. The firm has a 50-day moving average of $64.45 and a 200 day moving average of $81.20.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. On average, 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 other Enphase Energy news, 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 value of $6,126,000.00. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

A number of large investors have recently added to or reduced their stakes in the company. Siemens Fonds Invest GmbH purchased a new position in shares of Enphase Energy in the fourth quarter worth $289,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Enphase Energy during the fourth quarter valued at approximately $18,580,000. Fourth Dimension Wealth LLC bought a new position in Enphase Energy in the fourth quarter worth $103,000. Voloridge Investment Management LLC bought a new position in shares of Enphase Energy in the 4th quarter worth about $32,251,000. Finally, Worldquant Millennium Advisors LLC grew its holdings in Enphase Energy by 531.4% in the fourth quarter. Worldquant Millennium Advisors LLC now owns 805,791 shares of the semiconductor company’s stock worth $55,342,000 after purchasing an additional 678,163 shares during the period. Hedge funds and other 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.