Enphase Energy (NASDAQ:ENPH) Shares Up 6.1% – What’s Next?

Enphase Energy, Inc. (NASDAQ:ENPH)’s share price shot up 6.1% during mid-day trading on Thursday . The stock traded as high as $65.00 and last traded at $64.07. 4,657,551 shares changed hands during trading, an increase of 16% from the average session volume of 4,007,202 shares. The stock had previously closed at $60.39.

Wall Street Analyst Weigh In

Several research firms have issued reports on ENPH. Bank of America lowered their price target on shares of Enphase Energy from $72.00 to $62.00 and set an “underperform” rating for the company in a report on Thursday, November 7th. The Goldman Sachs Group reduced their price objective on shares of Enphase Energy from $170.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. William Blair initiated coverage on shares of Enphase Energy in a research report on Thursday, August 29th. They set a “market perform” rating for the company. Citigroup reduced their price objective on shares of Enphase Energy from $114.00 to $99.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada reduced their price objective on shares of Enphase Energy from $100.00 to $85.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $102.76.

Enphase Energy Stock Down 6.4 %

The company has a market capitalization of $8.04 billion, a P/E ratio of 135.27, a PEG ratio of 6.80 and a beta of 1.77. 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 50 day moving average price of $95.27 and a 200 day moving average price of $107.76.

Enphase Energy (NASDAQ:ENPH) last announced 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 net margin of 4.91% and a return on equity of 10.56%. The firm had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. During the same quarter in the prior year, the firm posted $0.84 earnings per share. The company’s revenue was down 30.9% on a year-over-year basis. Equities research analysts forecast that Enphase Energy, Inc. will post 0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Avior Wealth Management LLC increased its position in shares of Enphase Energy by 6,975.0% during the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 279 shares during the period. UMB Bank n.a. increased 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 valued at $33,000 after buying an additional 259 shares during the period. nVerses Capital LLC bought a new stake in shares of Enphase Energy during the third quarter valued at about $34,000. Stone House Investment Management LLC bought a new stake in shares of Enphase Energy during the third quarter valued at about $34,000. Finally, Quarry LP purchased a new position in shares of Enphase Energy during the third quarter worth about $37,000. 72.12% of the stock is currently owned by institutional investors.

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.