Enphase Energy (NASDAQ:ENPH) Shares Up 6.7%

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.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, April 30th. The semiconductor company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.03. The firm had revenue of $100.15 million during the quarter, compared to analyst estimates of $92.26 million. The firm’s revenue for the quarter was up 43.1% on a year-over-year basis. During the same period last year, the company posted ($0.01) EPS. On average, research analysts anticipate that Enphase Energy Inc will post 0.35 earnings per share for the current fiscal year.

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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