Enphase Energy (NASDAQ:ENPH) Shares Down 5.2% – Time to Sell?

Enphase Energy, Inc. (NASDAQ:ENPH) fell 5.2% during trading on Thursday . The stock traded as low as $99.33 and last traded at $99.86. 1,669,875 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 3,706,958 shares. The stock had previously closed at $105.32.

Analyst Ratings Changes

ENPH has been the subject of several recent analyst reports. Royal Bank of Canada decreased their price objective on shares of Enphase Energy from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. JPMorgan Chase & Co. increased their target price on shares of Enphase Energy from $124.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. BNP Paribas upgraded shares of Enphase Energy from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $120.00 to $144.00 in a research note on Wednesday, August 7th. Piper Sandler raised their target price on shares of Enphase Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, Canaccord Genuity Group lowered their target price on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $126.99.

Enphase Energy Price Performance

The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The stock has a 50-day simple moving average of $112.35 and a 200 day simple moving average of $113.70. The company has a market cap of $13.74 billion, a PE ratio of 52.59, a P/E/G ratio of 5.57 and a beta of 1.72.

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

Hedge Funds Weigh In On Enphase Energy

Hedge funds have recently bought and sold shares of the stock. Manchester Capital Management LLC lifted its stake in shares of Enphase Energy by 1,068.4% during the first 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 boosted its position in shares of Enphase Energy by 2,733.3% during 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. UMB Bank n.a. boosted its position in shares of Enphase Energy by 784.8% during the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after buying an additional 259 shares during the period. Quest Partners LLC lifted its position in Enphase Energy by 11,525.0% in the second quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 461 shares during the period. Finally, Mather Group LLC. lifted its position in Enphase Energy by 1,727.6% in the second quarter. Mather Group LLC. now owns 530 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 501 shares during the period. 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.