Enphase Energy (NASDAQ:ENPH) Shares Gap Down – Here’s What Happened

Enphase Energy, Inc. (NASDAQ:ENPH)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $65.83, but opened at $63.70. Enphase Energy shares last traded at $63.99, with a volume of 487,891 shares changing hands.

Analyst Ratings Changes

ENPH has been the subject of a number of analyst reports. Canaccord Genuity Group downgraded Enphase Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Barclays reduced their target price on Enphase Energy from $114.00 to $91.00 and set an “overweight” rating for the company in a research note on Tuesday. The Goldman Sachs Group reduced their target price on Enphase Energy from $145.00 to $121.00 and set a “buy” rating for the company in a research note on Tuesday, December 17th. BMO Capital Markets reduced their target price on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a research note on Monday, October 14th. Finally, Morgan Stanley reduced their target price on Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating for the company in a research note on Friday, November 15th. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Enphase Energy presently has a consensus rating of “Hold” and a consensus target price of $95.59.

Enphase Energy Trading Up 0.3 %

The company has a 50 day moving average of $69.22 and a 200-day moving average of $92.96. 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 stock has a market cap of $8.61 billion, a price-to-earnings ratio of 144.75, a price-to-earnings-growth ratio of 7.87 and a beta of 1.68.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $392.51 million. During the same period in the previous year, the company posted $0.84 EPS. Enphase Energy’s revenue was down 30.9% on a year-over-year basis. On average, research analysts anticipate that Enphase Energy, Inc. will post 0.92 earnings per share for the current year.

Institutional Investors Weigh In On Enphase Energy

A number of hedge funds have recently bought and sold shares of the stock. Inspire Investing LLC raised its position in Enphase Energy by 2.0% in the 4th quarter. Inspire Investing LLC now owns 15,988 shares of the semiconductor company’s stock valued at $1,098,000 after purchasing an additional 318 shares in the last quarter. Avior Wealth Management LLC raised its position in Enphase Energy by 269.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,045 shares of the semiconductor company’s stock valued at $72,000 after purchasing an additional 762 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Enphase Energy by 93.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,881 shares of the semiconductor company’s stock worth $473,000 after acquiring an additional 3,327 shares in the last quarter. Mandatum Life Insurance Co Ltd raised its position in shares of Enphase Energy by 65.5% during the 4th quarter. Mandatum Life Insurance Co Ltd now owns 35,615 shares of the semiconductor company’s stock worth $2,446,000 after acquiring an additional 14,098 shares in the last quarter. Finally, Empirical Asset Management LLC acquired a new stake in shares of Enphase Energy during the 4th quarter worth about $1,387,000. 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.