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

Enphase Energy, Inc. (NASDAQ:ENPH)’s stock price gapped down before the market opened 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 trading hands.

Analyst Ratings Changes

ENPH has been the subject of a number of recent research reports. Hsbc Global Res downgraded Enphase Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th. BMO Capital Markets dropped their price target 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. Oppenheimer dropped their price target on Enphase Energy from $134.00 to $101.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Citigroup upped their price target on Enphase Energy from $71.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Finally, Roth Mkm dropped their price target on Enphase Energy from $130.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Enphase Energy currently has an average rating of “Hold” and an average price target of $95.59.

Enphase Energy Price Performance

The firm has a 50 day simple moving average of $69.22 and a 200-day simple moving average of $92.96. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. The company has a market cap of $8.61 billion, a PE 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 net margin of 4.91% and a return on equity of 10.56%. The company had revenue of $380.90 million during the quarter, compared to analysts’ expectations of $392.51 million. During the same quarter last year, the firm earned $0.84 EPS. Enphase Energy’s revenue for the quarter was down 30.9% on a year-over-year basis. As a group, research analysts predict that Enphase Energy, Inc. will post 0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

A number of large investors have recently modified their holdings of the business. Avior Wealth Management LLC boosted its position in Enphase Energy by 6,975.0% in 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 last quarter. UMB Bank n.a. boosted its position in Enphase Energy by 784.8% in 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 last quarter. nVerses Capital LLC purchased a new stake in Enphase Energy in the third quarter valued at approximately $34,000. Stone House Investment Management LLC purchased a new stake in Enphase Energy in the third quarter valued at approximately $34,000. Finally, Quarry LP purchased a new stake in Enphase Energy in the third quarter valued at approximately $37,000. Hedge funds and other institutional investors 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.