Enphase Energy (NASDAQ:ENPH) Stock Price Up 2.5% - Should You Buy?

On Friday, shares of Enphase Energy, Inc. (NASDAQ:ENPH) saw a 2.5% increase in trading. The stock reached a high of $62.30 before settling at $62.22. During mid-day trading, approximately 858,849 shares exchanged hands, marking a significant 79% drop from the average trading volume of 4,055,289 shares. The previous closing price was $60.71.

Wall Street Analyst Perspectives

Several research firms have recently assessed Enphase Energy's stock. Truist Financial maintained a "hold" rating and adjusted their target price from $100.00 to $65.00 on January 16th. Guggenheim upgraded the stock from a "sell" to a "neutral" rating with a target price of $62.00 on January 31st. Craig Hallum lowered its price objective from $123.00 to $101.00 while retaining a "buy" rating in a report on February 5th. Glj Research maintained a "sell" rating with a target price of $50.69 on February 4th. OTR Global also upgraded Enphase Energy from a "negative" rating to a "mixed" rating on December 20th.

In summary, four analysts assigned a sell rating, sixteen gave it a hold rating, and fourteen analysts recommended buying the stock. The average price target for the stock stands at $90.36 based on data from MarketBeat.

Enphase Energy Stock Performance

Enphase Energy boasts a market capitalization of $8.20 billion with a price-to-earnings (P/E) ratio of 83.92, reflecting a beta of 2.12. Currently, the fifty-day simple moving average is $62.28, and the two hundred-day moving average is $76.16. Financial ratios indicate a current ratio of 3.53, a quick ratio of 3.28, and a debt-to-equity ratio of 1.44.

Recently, the company announced its quarterly earnings on February 4th, reporting earnings per share (EPS) of $0.57, surpassing analysts' expectations of $0.43 by $0.14. The company has a return on equity of 15.62% and a net margin of 7.72%. Analysts project that Enphase Energy, Inc. will achieve an EPS of 2.08 for the current year.

Insider Transactions

In recent insider activity, Director Thurman J. Rodgers sold 100,000 shares on March 7th at an average price of $61.26, totaling $6,126,000. After this sale, Rodgers retains 1,881,760 shares valued at approximately $115,276,617.60, reflecting a 5.05% decrease in ownership. This transaction was reported to the SEC. Additionally, CFO Mandy Yang sold 1,319 shares on March 10th at an average price of $63.32, amounting to $83,519.08. Following this sale, Yang possesses 78,524 shares valued at around $4,972,139.68, which is a 1.65% decrease in her position. Insiders hold about 3.40% of the company's stock.

Investor Activity

Recently, several large investors have adjusted their positions in Enphase Energy. Quarry LP acquired a new stake worth about $37,000 in the third quarter. Meanwhile, Brooklyn Investment Group purchased shares valued at $55,000 during the same period. Venturi Wealth Management LLC increased its holdings by 318.1%, now owning 669 shares valued at $46,000 after acquiring an additional 509 shares in the last quarter. Other investors like Pilgrim Partners Asia Pte Ltd and GeoWealth Management LLC have also made significant purchases. Overall, 72.12% of shares are owned by institutional investors.

About Enphase Energy

Enphase Energy, Inc. specializes in designing, developing, manufacturing, and selling home energy solutions, specifically for the solar photovoltaic market, both in the United States and internationally. The company is particularly known for its semiconductor-based microinverters, which convert energy at the individual solar module level. This technology combines with proprietary networking and software to provide energy monitoring and control capabilities.

Considerations for Investment

Before deciding to invest in Enphase Energy, potential investors should consider recent analyst ratings. While the general consensus rating is "Hold," leading analysts have identified five other stocks they believe to be better investment opportunities at this time.

The recommendations from analysts may serve as a guide for investors considering whether to invest in Enphase Energy or look elsewhere.

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