Enphase Energy Inc (ENPH) Shares Surge on Solar Tax Credit Likelihood


Enphase Energy Inc (NASDAQ:ENPH) shares are up significantly in late morning trading today as is the entire Solar Energy sector. Enphase Energy Inc (NASDAQ:ENPH), however, seems to be outperforming the other solar stock as the company recently experienced a massive sell-offfrom its October highs. The combination of a sweeping bill that has been introduced in the House of Representatives to Congress, which will keep a 30% subsidy on solar energy investments, along with the stock being in oversold territory seems to have equated to these substantial gains. With this said, the stock is falling off of its high of $4.50 on the day.

The stock is currently trading higher by 48.96% or $1.16 following the positive news, hitting $3.56 per share at the time of us publishing this article. About 2.02 million shares traded hands or up 62.90% from the average. ENPH has declined 75.46% since May 13, 2015 and is currently downtrending. It has underperformed the S&P500 by 71.78%.

From a total of 10 analysts covering Enphase Energy Inc (NASDAQ:ENPH) stock, 2 rate it a “Buy”, 1 a “Sell”, and 7 a “Hold”. This means that 20% of the ratings are positive. The highest target price is $30 while the lowest target price is $1.90. The mean of all analyst targets is $4.69 which is 12.74% above today’s ($4.16) stock price. Enphase Energy Inc was the topic of 17 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. TH Capital maintained shares on November 18 with a “Neutral” rating. Needham maintained shares with a”Strong Buy” rating and a $10 target share price in their report from a September 15. Oppenheimer maintained ENPH stock in a recent report from November 4 with a “Outperform” rating. Finally, Canaccord Genuity downgraded the stock to a “Hold” rating in a report they issued on a November 4.

The institutional sentiment decreased to 0.71 in Q2 2015. It’s down 0.29, from 1 in 2015Q2. The ratio is negative, as 29 funds sold all their Enphase Energy Inc shares they owned while 27 reduced their positions. 7 funds bought stakes while 33 increased their total positions. Institutions now own 29.39 million shares which is 7.02% more than the previous share count of 27.46 million in 2015Q2.

Park West Asset Management Llc holds 0.74% of its total portfolio in Enphase Energy Inc, equating to 2.19 million shares. Robecosam Usa Inc. owns 116,000 shares representing 0.62% of their total US portfolio. Moreover, Robecosam Ag has 0.53% of their total portfolio invested in the company, equating to 1.61 million shares. The Us-based Grandeur Peak Global Advisors Llc has a total of 0.41% of their portfolio invested in the stock. Summit Creek Advisors Llc, a Minnesota-based fund reported 480,610 shares owned.

Since May 20, 2015, the stock had 0 insider buys, and 2 sales for a total of $106,951 in net activity. Nahi Paul B sold 11,985 shares worth $64,240. Sennesael Kris sold 7,882 shares worth $42,711. Loebbaka Jeff sold 2,060 shares worth $21,445.

Enphase Energy, Inc. is engaged in designing, developing, manufacturing and selling microinverter systems for the solar photovoltaic (PV) industry. The company has a market cap of $188.58 million. The Company’s semiconductor microinverter system converts direct current (DC) electricity to alternating current (AC) electricity at the individual solar module level. It currently has negative earnings. The Company’s microinverter system consists of three components, such as Enphase microinverter, which delivers power conversion at the individual solar module level; Envoy communications gateway, which is installed in the system owner’s home or business and serves as a networking hub that collects data from the microinverter array, and Enlighten Web software, which collects and analyzes the collected data from the microinverter array.