Enphase Energy (NASDAQ:ENPH) Trading 7.5% Higher After Insider Buying Activity

Enphase Energy, Inc. (NASDAQ:ENPH)’s stock price shot up 7.5% during mid-day trading on Friday following insider buying activity. The company traded as high as $117.26 and last traded at $114.00. 2,161,551 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 4,180,680 shares. The stock had previously closed at $106.06.

Specifically, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the sale, the director now directly owns 3,126 shares in the company, valued at approximately $376,964.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Enphase Energy news, CFO Mandy Yang acquired 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were bought at an average cost of $104.24 per share, with a total value of $416,960.00. Following the completion of the transaction, the chief financial officer now directly owns 62,973 shares of the company’s stock, valued at approximately $6,564,305.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the completion of the sale, the director now owns 3,126 shares of the company’s stock, valued at $376,964.34. The disclosure for this sale can be found here. Insiders have sold a total of 54,285 shares of company stock worth $6,148,228 in the last quarter. Corporate insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Royal Bank of Canada reduced their price target on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Wells Fargo & Company decreased their target price on shares of Enphase Energy from $141.00 to $130.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Susquehanna reissued a “positive” rating and set a $140.00 price target on shares of Enphase Energy in a report on Friday, April 5th. Guggenheim lowered Enphase Energy from a “neutral” rating to a “sell” rating and set a $92.00 price objective for the company. in a report on Wednesday, April 24th. Finally, Barclays raised Enphase Energy from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $115.00 to $134.00 in a report on Friday, April 26th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $133.45.

Enphase Energy Trading Up 7.7 %

The stock’s 50-day moving average is $116.24 and its two-hundred day moving average is $111.16. The stock has a market cap of $15.54 billion, a P/E ratio of 59.48, a price-to-earnings-growth ratio of 3.79 and a beta of 1.50. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.16 and a quick ratio of 3.78.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. The company had revenue of $302.57 million for the quarter, compared to the consensus estimate of $327.06 million. Equities research analysts anticipate that Enphase Energy, Inc. will post 1.59 EPS for the current year.

Institutional Trading of Enphase Energy

Several hedge funds have recently modified their holdings of ENPH. Bogart Wealth LLC purchased a new position in Enphase Energy in the fourth quarter worth about $26,000. CVA Family Office LLC purchased a new stake in Enphase Energy in the 4th quarter worth about $31,000. YHB Investment Advisors Inc. purchased a new stake in shares of Enphase Energy in the first quarter worth approximately $35,000. Parkside Financial Bank & Trust increased its stake in Enphase Energy by 131.3% in the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 176 shares during the period. Finally, Covestor Ltd lifted its position in shares of Enphase Energy by 61.6% during the third quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 133 shares during the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

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.