Enphase Energy (NASDAQ:ENPH) Trading Down 4.9% – Should You Sell?

Enphase Energy, Inc. (NASDAQ:ENPH) was down 4.9% during mid-day trading on Thursday . The stock traded as low as $36.45 and last traded at $36.4010. Approximately 1,318,062 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 6,697,204 shares. The stock had previously closed at $38.28.

Analyst Upgrades and Downgrades

ENPH has been the subject of several research analyst reports. The Goldman Sachs Group increased their price objective on Enphase Energy from $45.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Morgan Stanley reiterated an “underweight” rating and issued a $30.00 price target on shares of Enphase Energy in a report on Wednesday, February 4th. Mizuho set a $39.00 price objective on shares of Enphase Energy in a report on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Enphase Energy from $35.00 to $38.00 and gave the stock a “hold” rating in a research report on Wednesday, February 4th. Finally, TD Cowen increased their price target on shares of Enphase Energy from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, February 4th. Ten research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.17.

Enphase Energy Stock Down 6.3%

The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.84 and a current ratio of 2.07. The stock’s 50-day moving average price is $43.13 and its two-hundred day moving average price is $36.84. The stock has a market capitalization of $4.70 billion, a PE ratio of 27.77 and a beta of 1.39.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, February 3rd. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.19. Enphase Energy had a net margin of 11.69% and a return on equity of 20.31%. The company had revenue of $343.32 million during the quarter, compared to analysts’ expectations of $340.45 million. During the same period last year, the company posted $0.94 EPS. Enphase Energy’s revenue was down 10.3% on a year-over-year basis. As a group, analysts expect that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Insider Transactions at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were purchased at an average cost of $51.98 per share, with a total value of $259,900.00. Following the completion of the purchase, the chief executive officer owned 1,640,632 shares in the company, valued at approximately $85,280,051.36. The trade was a 0.31% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard Mora sold 1,100 shares of Enphase Energy stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $52.05, for a total value of $57,255.00. Following the completion of the transaction, the director directly owned 9,370 shares of the company’s stock, valued at approximately $487,708.50. This represents a 10.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Enphase Energy by 431.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 514 shares in the last quarter. Glass Jacobson Investment Advisors llc increased its holdings in shares of Enphase Energy by 77.8% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 350 shares in the last quarter. Salomon & Ludwin LLC raised its stake in shares of Enphase Energy by 761.0% in the third quarter. Salomon & Ludwin LLC now owns 861 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 761 shares during the last quarter. Stance Capital LLC purchased a new position in shares of Enphase Energy in the third quarter worth $32,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Enphase Energy by 199.7% during the third quarter. Geneos Wealth Management Inc. now owns 920 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 613 shares in the last quarter. Institutional investors own 72.12% of the company’s stock.

About Enphase Energy

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.