Enphase Energy (NASDAQ:ENPH) Trading Down 5.1%

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

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. HSBC upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 price target for the company in a research note on Monday, June 10th. Barclays lowered their target price on shares of Enphase Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. BNP Paribas raised shares of Enphase Energy from a “neutral” rating to an “outperform” rating and raised their price target for the company from $120.00 to $144.00 in a research report on Wednesday, August 7th. Roth Mkm reissued a “buy” rating and set a $140.00 price objective on shares of Enphase Energy in a report on Wednesday, July 24th. Finally, Canaccord Genuity Group lowered their price objective on Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, Enphase Energy has a consensus rating of “Hold” and a consensus target price of $128.89.

Enphase Energy Price Performance

The firm’s 50 day moving average price is $111.85 and its two-hundred day moving average price is $115.03. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. 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.

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Enphase Energy by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock valued at $2,066,846,000 after acquiring an additional 192,854 shares during the last quarter. Baillie Gifford & Co. lifted its position in Enphase Energy by 57.9% during the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after purchasing an additional 2,304,408 shares during the last quarter. Swedbank AB purchased a new position in Enphase Energy in the 1st quarter worth approximately $424,130,000. Northern Trust Corp increased its holdings in shares of Enphase Energy by 0.3% in the 4th quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock worth $180,314,000 after buying an additional 3,940 shares during the last quarter. Finally, Electron Capital Partners LLC increased its holdings in shares of Enphase Energy by 1,021.4% in the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after buying an additional 1,078,154 shares during the last quarter. 72.12% of the stock is currently owned by hedge funds and other 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.