Enphase Energy (NASDAQ:ENPH) Shares Up 4% – Time to Buy?

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) rose 4% on Tuesday . The company traded as high as $74.90 and last traded at $74.49. Approximately 464,263 shares traded hands during trading, a decline of 88% from the average daily volume of 4,005,152 shares. The stock had previously closed at $71.62.

Wall Street Analysts Forecast Growth

ENPH has been the subject of several analyst reports. HSBC lowered shares of Enphase Energy from a “buy” rating to a “hold” rating and lowered their target price for the stock from $154.00 to $81.00 in a report on Friday, November 8th. Evercore ISI cut their target price on Enphase Energy from $133.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Canaccord Genuity Group downgraded Enphase Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Hsbc Global Res cut Enphase Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. Finally, BMO Capital Markets cut their price objective on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a research report on Monday, October 14th. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Enphase Energy has an average rating of “Hold” and an average target price of $100.33.

Enphase Energy Price Performance

The company has a market cap of $10.02 billion, a PE ratio of 162.77, a price-to-earnings-growth ratio of 22.03 and a beta of 1.69. The firm has a 50 day simple moving average of $78.05 and a 200-day simple moving average of $100.91. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The firm had revenue of $380.90 million during the quarter, compared to analysts’ expectations of $392.51 million. During the same period in the previous year, the firm earned $0.84 EPS. The firm’s quarterly revenue was down 30.9% on a year-over-year basis. As a group, research analysts predict that Enphase Energy, Inc. will post 0.94 earnings per share for the current fiscal year.

Institutional Trading of Enphase Energy

Several hedge funds and other institutional investors have recently made changes to their positions in ENPH. Harbor Capital Advisors Inc. acquired a new position in Enphase Energy during the 3rd quarter valued at about $1,273,000. Charles Schwab Investment Management Inc. grew its stake in shares of Enphase Energy by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 880,340 shares of the semiconductor company’s stock worth $99,496,000 after acquiring an additional 16,234 shares during the last quarter. Erste Asset Management GmbH acquired a new position in shares of Enphase Energy during the third quarter valued at about $37,475,000. Mizuho Securities USA LLC raised its position in shares of Enphase Energy by 4,177.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock valued at $50,737,000 after purchasing an additional 438,424 shares during the last quarter. Finally, Impax Asset Management Group plc boosted its stake in Enphase Energy by 15.9% in the 3rd quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock worth $25,555,000 after purchasing an additional 31,008 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

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.