Shares of Enphase Energy Inc (NASDAQ:ENPH) shot up 6.7% on Thursday . The company traded as high as $18.07 and last traded at $17.92. 2,699,552 shares traded hands during trading, an increase of 7% from the average session volume of 2,521,937 shares. The stock had previously closed at $16.79.
A number of brokerages recently weighed in on ENPH. BidaskClub lowered Enphase Energy from a “buy” rating to a “hold” rating in a report on Monday, June 24th. Northland Securities began coverage on Enphase Energy in a report on Wednesday. They set an “outperform” rating and a $24.00 price objective on the stock. Zacks Investment Research raised Enphase Energy from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Friday, March 1st. TheStreet raised Enphase Energy from a “c” rating to a “b-” rating in a report on Tuesday, May 21st. Finally, B. Riley reaffirmed a “buy” rating and set a $21.00 price objective on shares of Enphase Energy in a report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Enphase Energy currently has an average rating of “Buy” and a consensus target price of $15.06.
The company has a quick ratio of 1.42, a current ratio of 1.52 and a debt-to-equity ratio of 4.63. The stock’s fifty day simple moving average is $16.02.
In other Enphase Energy news, VP David A. Ranhoff sold 63,516 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $14.62, for a total value of $928,603.92. Following the sale, the vice president now owns 790,517 shares of the company’s stock, valued at $11,557,358.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.46% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of ENPH. Rhumbline Advisers lifted its position in shares of Enphase Energy by 42.2% in the fourth quarter. Rhumbline Advisers now owns 125,315 shares of the semiconductor company’s stock valued at $593,000 after acquiring an additional 37,169 shares in the last quarter. First Trust Advisors LP lifted its position in Enphase Energy by 10.6% during the fourth quarter. First Trust Advisors LP now owns 301,067 shares of the semiconductor company’s stock worth $1,424,000 after buying an additional 28,754 shares during the period. LPL Financial LLC purchased a new position in Enphase Energy during the fourth quarter worth about $66,000. BlackRock Inc. lifted its position in Enphase Energy by 2.8% during the fourth quarter. BlackRock Inc. now owns 5,688,416 shares of the semiconductor company’s stock worth $26,907,000 after buying an additional 154,094 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Enphase Energy by 18.7% during the fourth quarter. Bank of New York Mellon Corp now owns 378,003 shares of the semiconductor company’s stock worth $1,788,000 after buying an additional 59,534 shares during the period. Institutional investors and hedge funds own 48.41% of the company’s stock.
Enphase Energy Company Profile (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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