Enphase Energy (NASDAQ:ENPH) Shares Down 6.1% – Should You Sell?

Enphase Energy, Inc. (NASDAQ:ENPH) traded down 6.1% on Monday . The stock traded as low as $51.05 and last traded at $51.2780. 1,515,205 shares changed hands during trading, a decline of 79% from the average session volume of 7,383,687 shares. The stock had previously closed at $54.59.

Analysts Set New Price Targets

ENPH has been the topic of several recent research reports. JPMorgan Chase & Co. cut their target price on shares of Enphase Energy from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 29th. Wall Street Zen raised shares of Enphase Energy from a “sell” rating to a “hold” rating in a research note on Sunday, March 29th. Susquehanna cut their price target on shares of Enphase Energy from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Enphase Energy from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Finally, Glj Research reaffirmed a “sell” rating and set a $21.70 target price on shares of Enphase Energy in a research report on Thursday, June 11th. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $45.70.

Enphase Energy Price Performance

The company has a current ratio of 3.80, a quick ratio of 3.20 and a debt-to-equity ratio of 0.52. The business’s 50-day simple moving average is $46.17 and its two-hundred day simple moving average is $41.19. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 47.31 and a beta of 1.60.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. The firm had revenue of $282.90 million for the quarter, compared to the consensus estimate of $282.28 million. During the same quarter in the previous year, the company earned $0.68 EPS. The company’s revenue for the quarter was down 20.6% on a year-over-year basis. As a group, research analysts expect that Enphase Energy, Inc. will post 0.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was acquired at an average price of $67.50 per share, with a total value of $337,500.00. Following the completion of the purchase, the chief executive officer directly owned 1,645,632 shares of the company’s stock, valued at approximately $111,080,160. This trade represents a 0.30% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard Mora sold 700 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $64.20, for a total value of $44,940.00. Following the sale, the director directly owned 13,922 shares of the company’s stock, valued at $893,792.40. This represents a 4.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Enphase Energy

Several large investors have recently modified their holdings of the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Enphase Energy by 431.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 514 shares in the last quarter. Glass Jacobson Investment Advisors llc grew its stake in Enphase Energy by 77.8% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 350 shares during the period. Stance Capital LLC acquired a new stake in Enphase Energy in the third quarter valued at approximately $32,000. Activest Wealth Management increased its holdings in shares of Enphase Energy by 52,000.0% during the fourth quarter. Activest Wealth Management now owns 1,042 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 1,040 shares in the last quarter. Finally, Ascentis Independent Advisors acquired a new position in shares of Enphase Energy during the first quarter worth approximately $33,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Company Profile

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.