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.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.09. Enphase Energy had a net margin of 2.63% and a return on equity of 31.17%. The company had revenue of $134.09 million during the quarter, compared to analyst estimates of $120.36 million. During the same period in the prior year, the firm earned $0.02 earnings per share. The business’s quarterly revenue was up 76.7% on a year-over-year basis. Sell-side analysts expect that Enphase Energy Inc will post 0.54 EPS for the current fiscal year.

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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