Enphase Energy Inc (NASDAQ:ENPH) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $9.76 and last traded at $9.79, with a volume of 1421396 shares. The stock had previously closed at $9.35.

A number of brokerages have issued reports on ENPH. Zacks Investment Research upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Friday, March 1st. Roth Capital set a $14.00 price target on shares of Enphase Energy and gave the company a “buy” rating in a research note on Thursday, March 21st. Credit Suisse Group initiated coverage on shares of Enphase Energy in a research note on Monday, March 25th. They issued a “neutral” rating and a $10.00 price target on the stock. BidaskClub upgraded shares of Enphase Energy from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 28th. Finally, Cowen raised their price target on shares of Enphase Energy from $6.75 to $8.50 and gave the company an “in-line” rating in a research note on Thursday, February 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Enphase Energy currently has a consensus rating of “Buy” and a consensus price target of $9.56.

The firm has a market cap of $1.05 billion, a PE ratio of -80.25 and a beta of 1.45. The company has a current ratio of 1.51, a quick ratio of 1.40 and a debt-to-equity ratio of 10.50.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 26th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The company had revenue of $92.20 million for the quarter, compared to analyst estimates of $85.40 million. Enphase Energy’s revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.01 EPS. Equities analysts expect that Enphase Energy Inc will post 0.24 earnings per share for the current year.

In related news, CFO Eric Branderiz sold 30,935 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $8.88, for a total value of $274,702.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Badrinarayanan Kothandaraman acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was acquired at an average price of $8.74 per share, with a total value of $87,400.00. Following the acquisition, the chief executive officer now owns 143,839 shares in the company, valued at $1,257,152.86. The disclosure for this purchase can be found here. In the last quarter, insiders sold 163,045 shares of company stock valued at $1,478,709. 13.52% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of ENPH. Capital Investment Advisory Services LLC bought a new position in Enphase Energy in the 4th quarter valued at approximately $38,000. Westside Investment Management Inc. raised its holdings in Enphase Energy by 28.4% during the 4th quarter. Westside Investment Management Inc. now owns 8,986 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 1,986 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Enphase Energy by 24.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 12,605 shares of the semiconductor company’s stock worth $60,000 after purchasing an additional 2,500 shares during the last quarter. LPL Financial LLC bought a new position in Enphase Energy during the 4th quarter worth approximately $66,000. Finally, Fisher Asset Management LLC bought a new position in Enphase Energy during the 4th quarter worth approximately $102,000. Institutional investors and hedge funds own 42.15% of the company’s stock.

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About Enphase Energy (NASDAQ:ENPH)

Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells microinverter systems for residential and commercial markets in the United States and internationally. The company's semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity at the individual solar module level.

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