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

Enphase Energy, Inc. (NASDAQ:ENPH)’s share 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.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ENPH. Piper Sandler reduced their price target on Enphase Energy from $70.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Citigroup lifted their price target on Enphase Energy from $71.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Wells Fargo & Company reduced their price target on Enphase Energy from $83.00 to $77.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Northland Securities reduced their price target on Enphase Energy from $110.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. Finally, OTR Global upgraded Enphase Energy from a “negative” rating to a “mixed” rating in a report on Friday, December 20th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Enphase Energy presently has a consensus rating of “Hold” and an average target price of $90.42.

Enphase Energy Stock Down 2.0 %

The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. The firm has a market cap of $8.59 billion, a P/E ratio of 87.64 and a beta of 1.68. The stock’s 50-day simple moving average is $66.89 and its 200 day simple moving average is $85.48.

Enphase Energy (NASDAQ:ENPH) last issued 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%. As a group, research analysts forecast that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Institutional Trading of Enphase Energy

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Enphase Energy by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company’s stock valued at $1,135,707,000 after acquiring an additional 44,782 shares during the last quarter. Baillie Gifford & Co. boosted its position in shares of Enphase Energy by 32.0% during the 4th quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock worth $574,975,000 after purchasing an additional 2,028,691 shares in the last quarter. Invesco Ltd. boosted its position in shares of Enphase Energy by 43.4% during the 4th quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company’s stock worth $313,034,000 after purchasing an additional 1,378,978 shares in the last quarter. Swedbank AB boosted its position in shares of Enphase Energy by 0.3% during the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock worth $391,442,000 after purchasing an additional 11,890 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Enphase Energy by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 3,429,909 shares of the semiconductor company’s stock worth $234,994,000 after purchasing an additional 47,593 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.