Enphase Energy (NASDAQ:ENPH) Shares Gap Up - What's Next?

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $43.26, but opened at $44.84. Enphase Energy shares last traded at $45.27, with a volume of 743,555 shares trading hands.

Analysts Set New Price Targets

• 4 Reasons Enphase Downtrend Won’t End in 2025; 1 That It Will

A number of equities research analysts have issued reports on the stock. Redburn Atlantic began coverage on shares of Enphase Energy in a research note on Monday, March 3rd. They set a "neutral" rating for the company. Morgan Stanley downgraded Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 target price on the stock. in a research note on Wednesday, April 23rd. Barclays downgraded Enphase Energy from an "overweight" rating to an "underweight" rating and cut their price target for the stock from $51.00 to $40.00 in a research note on Tuesday, May 13th. The Goldman Sachs Group dropped their price objective on Enphase Energy from $90.00 to $77.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Piper Sandler cut their price objective on Enphase Energy from $47.00 to $42.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Eleven analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, Enphase Energy currently has an average rating of "Hold" and an average target price of $68.31.

Read Our Latest Analysis on Enphase Energy

Enphase Energy Price Performance

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The stock has a market capitalization of $6.03 billion, a P/E ratio of 62.31 and a beta of 1.69. The company's 50 day simple moving average is $47.33 and its two-hundred day simple moving average is $59.46. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28.

Insider Activity

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of Enphase Energy stock in a transaction on Friday, April 25th. The shares were purchased at an average cost of $46.35 per share, with a total value of $185,400.00. Following the completion of the purchase, the chief executive officer now owns 1,598,696 shares in the company, valued at $74,099,559.60. The trade was a 0.25% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Enphase Energy

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A number of institutional investors have recently made changes to their positions in ENPH. CX Institutional acquired a new position in shares of Enphase Energy during the 1st quarter worth about $29,000. First Horizon Advisors Inc. raised its holdings in Enphase Energy by 83.0% in the first quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock worth $35,000 after purchasing an additional 258 shares during the period. SVB Wealth LLC bought a new position in shares of Enphase Energy during the first quarter worth $38,000. Brooklyn Investment Group grew its holdings in shares of Enphase Energy by 124.7% in the 1st quarter. Brooklyn Investment Group now owns 663 shares of the semiconductor company's stock valued at $41,000 after buying an additional 368 shares during the period. Finally, Venturi Wealth Management LLC raised its stake in Enphase Energy by 318.1% during the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company's stock worth $46,000 after buying an additional 509 shares during the period. 72.12% of the stock is owned by institutional investors and hedge funds.

Enphase Energy Company Profile

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.

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