Enphase Energy (NASDAQ:ENPH) Shares Gap Down to $23.28
Enphase Energy Inc (NASDAQ:ENPH)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $23.47, but opened at $23.28. Enphase Energy shares last traded at $24.84, with a volume of 2,079,290 shares.
ENPH has been the subject of a number of research analyst reports. BidaskClub downgraded Enphase Energy from a “buy” rating to a “hold” rating in a research report on Saturday. B. Riley restated a “buy” rating and issued a $21.00 price objective on shares of Enphase Energy in a report on Wednesday, June 12th. Craig Hallum set a $31.00 price objective on Enphase Energy and gave the company a “buy” rating in a report on Wednesday, July 31st. Roth Capital raised their target price on Enphase Energy from $17.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Northland Securities lifted their target price on Enphase Energy from $28.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, August 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Enphase Energy has an average rating of “Buy” and a consensus price target of $33.85.
The stock has a 50-day moving average of $28.70 and a two-hundred day moving average of $17.24. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of -208.42 and a beta of 0.88. The company has a current ratio of 2.44, a quick ratio of 2.30 and a debt-to-equity ratio of 0.85.
In other Enphase Energy news, VP David A. Ranhoff sold 30,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $29.25, for a total transaction of $877,500.00. Following the sale, the vice president now directly owns 767,297 shares of the company’s stock, valued at approximately $22,443,437.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard Mora sold 60,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $31.03, for a total value of $1,861,800.00. The disclosure for this sale can be found here. 12.46% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its position in Enphase Energy by 89.4% during the fourth quarter. Bank of America Corp DE now owns 134,824 shares of the semiconductor company’s stock valued at $639,000 after buying an additional 63,640 shares during the period. SG Americas Securities LLC acquired a new position in shares of Enphase Energy in the 1st quarter valued at about $124,000. Rhumbline Advisers increased its holdings in shares of Enphase Energy by 0.8% in the 1st quarter. Rhumbline Advisers now owns 126,367 shares of the semiconductor company’s stock valued at $1,166,000 after purchasing an additional 1,052 shares during the period. Stephens Inc. AR purchased a new stake in shares of Enphase Energy in the first quarter worth approximately $216,000. Finally, Ibex Investors LLC purchased a new stake in shares of Enphase Energy in the first quarter worth approximately $182,000. 43.38% of the stock is owned by institutional investors and hedge funds.
About Enphase Energy (NASDAQ:ENPH)
Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that 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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