Enphase Energy (NASDAQ:ENPH) Trading Down 5.1%

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) dropped 5.1% on Monday . The stock traded as low as $103.03 and last traded at $103.07. Approximately 1,523,802 shares traded hands 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 Ratings Changes

ENPH has been the subject of several recent analyst reports. Susquehanna raised their price objective on shares of Enphase Energy from $140.00 to $147.00 and gave the stock a “positive” rating in a research report on Monday, July 15th. Craig Hallum lifted their price target on shares of Enphase Energy from $147.00 to $153.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Canaccord Genuity Group decreased their price objective on Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Jefferies Financial Group reissued a “hold” rating and set a $115.00 target price (up previously from $111.00) on shares of Enphase Energy in a research note on Wednesday, September 4th. Finally, BMO Capital Markets upped their price target on Enphase Energy from $110.00 to $115.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $128.89.

Enphase Energy Price Performance

The stock’s 50-day moving average is $111.33 and its 200 day moving average is $115.31. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. The stock has a market capitalization of $13.95 billion, a PE ratio of 56.59, a P/E/G ratio of 5.74 and a beta of 1.72.

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

Insider Buying and Selling

In related news, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $123.27, for a total transaction of $616,350.00. Following the completion of the sale, the executive vice president now directly owns 107,943 shares of the company’s stock, valued at $13,306,133.61. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Hedge funds have recently added to or reduced their stakes in the company. Benjamin Edwards Inc. raised its position in Enphase Energy by 2.8% in the second quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock worth $335,000 after acquiring an additional 93 shares in the last quarter. Fermata Advisors LLC lifted its stake in shares of Enphase Energy by 1.4% in the first quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock valued at $855,000 after purchasing an additional 100 shares during the period. Hollencrest Capital Management boosted its holdings in Enphase Energy by 3.3% during the first quarter. Hollencrest Capital Management now owns 3,095 shares of the semiconductor company’s stock worth $374,000 after buying an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in Enphase Energy by 0.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock worth $1,165,000 after buying an additional 100 shares during the period. Finally, Crossmark Global Holdings Inc. increased its holdings in Enphase Energy by 1.9% in the second quarter. Crossmark Global Holdings Inc. now owns 5,591 shares of the semiconductor company’s stock valued at $557,000 after buying an additional 106 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Company Profile

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.