Enphase Energy (ENPH) Sets New 52-Week High at $9.76
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.
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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