Enphase Energy (NASDAQ:ENPH) Trading Down 5.1%

Enphase Energy, Inc. (NASDAQ:ENPH)’s share price was down 5.1% during trading on Monday . The stock traded as low as $103.03 and last traded at $103.07. Approximately 1,523,802 shares were traded during trading, a decline of 61% from the average daily volume of 3,876,076 shares. The stock had previously closed at $108.65.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ENPH. JPMorgan Chase & Co. raised their price objective on Enphase Energy from $124.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Barclays decreased their price target on shares of Enphase Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $115.00 price objective (up previously from $111.00) on shares of Enphase Energy in a research note on Wednesday, September 4th. Guggenheim lifted their target price on shares of Enphase Energy from $92.00 to $93.00 and gave the stock a “sell” rating in a research report on Wednesday, July 24th. Finally, William Blair started coverage on shares of Enphase Energy in a research note on Thursday, August 29th. They issued a “market perform” rating for the company. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $128.89.

Enphase Energy Price Performance

The stock has a market cap of $15.05 billion, a PE ratio of 57.60, a P/E/G ratio of 5.74 and a beta of 1.72. The business has a fifty day simple moving average of $111.85 and a two-hundred day simple moving average of $115.03. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). The firm had revenue of $303.80 million during the quarter, compared to analysts’ expectations of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. Enphase Energy’s revenue for the quarter was down 57.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.16 earnings per share. Research analysts forecast that Enphase Energy, Inc. will post 1.19 earnings per share for the current year.

Insider Activity at Enphase Energy

In other news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $123.27, for a total value of $616,350.00. Following the sale, the executive vice president now directly owns 107,943 shares of the company’s stock, valued at approximately $13,306,133.61. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Enphase Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Manchester Capital Management LLC increased its stake in shares of Enphase Energy by 1,068.4% in the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 203 shares in the last quarter. Chilton Capital Management LLC raised its stake in shares of Enphase Energy by 2,733.3% in the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after buying an additional 246 shares during the period. YHB Investment Advisors Inc. purchased a new position in shares of Enphase Energy during the 1st quarter valued at about $35,000. TFO Wealth Partners LLC grew its stake in shares of Enphase Energy by 6,720.0% during the 4th quarter. TFO Wealth Partners LLC now owns 341 shares of the semiconductor company’s stock valued at $45,000 after acquiring an additional 336 shares during the period. Finally, Quest Partners LLC increased its holdings in Enphase Energy by 11,525.0% in the 2nd quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 461 shares in the last quarter. 72.12% of the stock is owned by institutional investors.

About Enphase Energy

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.