Enphase Energy (NASDAQ:ENPH) Shares Up 5.2% – Still a Buy?

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) shot up 5.2% on Monday . The stock traded as high as $65.10 and last traded at $65.50. 1,819,040 shares changed hands during trading, a decline of 46% from the average session volume of 3,346,269 shares. The stock had previously closed at $62.28.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Hsbc Global Res cut Enphase Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. Royal Bank of Canada cut their price objective on Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating for the company in a research report on Friday, November 22nd. Morgan Stanley dropped their price target on Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, November 15th. Raymond James dropped their price target on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, Roth Mkm lowered their price objective on Enphase Energy from $130.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $93.06.

Enphase Energy Stock Up 2.6 %

The business has a 50-day simple moving average of $69.27 and a two-hundred day simple moving average of $89.70. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16. The company has a market capitalization of $8.63 billion, a price-to-earnings ratio of 145.25, a PEG ratio of 8.22 and a beta of 1.68.

Institutional Trading of Enphase Energy

Several hedge funds have recently modified their holdings of the business. Green Alpha Advisors LLC lifted its holdings in shares of Enphase Energy by 1.4% in the 3rd quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock valued at $808,000 after buying an additional 102 shares during the period. Centaurus Financial Inc. lifted its holdings in shares of Enphase Energy by 10.2% in the 2nd quarter. Centaurus Financial Inc. now owns 1,280 shares of the semiconductor company’s stock valued at $128,000 after buying an additional 118 shares during the period. Creative Financial Designs Inc. ADV lifted its holdings in shares of Enphase Energy by 19.3% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 771 shares of the semiconductor company’s stock valued at $87,000 after buying an additional 125 shares during the period. Empirical Finance LLC lifted its holdings in shares of Enphase Energy by 3.9% in the 3rd quarter. Empirical Finance LLC now owns 3,673 shares of the semiconductor company’s stock valued at $415,000 after buying an additional 137 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its stake in Enphase Energy by 5.2% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 3,119 shares of the semiconductor company’s stock valued at $354,000 after purchasing an additional 153 shares in the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

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.