Enphase Energy (NASDAQ:ENPH) Stock Price Down 5.4% – Time to Sell?

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) fell 5.4% on Tuesday . The stock traded as low as $31.97 and last traded at $31.7070. 1,177,214 shares were traded during mid-day trading, a decline of 83% from the average session volume of 6,962,589 shares. The stock had previously closed at $33.50.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ENPH. Loop Capital set a $31.00 target price on shares of Enphase Energy in a research report on Thursday, October 30th. Jefferies Financial Group reiterated a “hold” rating and issued a $41.00 price target on shares of Enphase Energy in a research note on Monday, September 29th. Oppenheimer set a $67.00 price objective on Enphase Energy and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Evercore ISI set a $33.00 target price on Enphase Energy in a research report on Wednesday, October 29th. Finally, Glj Research raised their price target on Enphase Energy from $19.80 to $23.49 and gave the company a “sell” rating in a report on Tuesday, September 23rd. Five equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and thirteen have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Enphase Energy currently has an average rating of “Reduce” and an average price target of $39.75.

Enphase Energy Trading Down 4.8%

The stock has a market cap of $4.17 billion, a P/E ratio of 21.98 and a beta of 1.43. The company has a 50-day moving average price of $31.57 and a two-hundred day moving average price of $35.58. The company has a current ratio of 2.04, a quick ratio of 1.88 and a debt-to-equity ratio of 0.57.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, October 28th. The semiconductor company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.30. Enphase Energy had a net margin of 12.93% and a return on equity of 25.67%. The business had revenue of $410.43 million for the quarter, compared to analysts’ expectations of $364.64 million. During the same quarter in the previous year, the business posted $0.65 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. On average, research analysts expect that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Insider Activity at Enphase Energy

In other Enphase Energy news, EVP Mandy Yang sold 6,000 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $33.01, for a total value of $198,060.00. Following the transaction, the executive vice president owned 68,987 shares of the company’s stock, valued at $2,277,260.87. This represents a 8.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thurman J. Rodgers sold 150,000 shares of Enphase Energy stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $29.13, for a total value of $4,369,500.00. Following the sale, the director owned 1,733,596 shares of the company’s stock, valued at approximately $50,499,651.48. This trade represents a 7.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.10% of the stock is owned by company insiders.

Institutional Trading of Enphase Energy

Several institutional investors and hedge funds have recently modified their holdings of ENPH. Brooklyn Investment Group raised its holdings in shares of Enphase Energy by 124.7% in the 1st quarter. Brooklyn Investment Group now owns 663 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 368 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of Enphase Energy by 4.5% during the second quarter. QRG Capital Management Inc. now owns 8,616 shares of the semiconductor company’s stock valued at $342,000 after buying an additional 369 shares during the last quarter. Tempus Wealth Planning LLC boosted its holdings in shares of Enphase Energy by 4.8% in the 3rd quarter. Tempus Wealth Planning LLC now owns 8,556 shares of the semiconductor company’s stock valued at $303,000 after buying an additional 394 shares in the last quarter. Fermata Advisors LLC grew its position in shares of Enphase Energy by 5.8% in the 2nd quarter. Fermata Advisors LLC now owns 7,330 shares of the semiconductor company’s stock worth $291,000 after buying an additional 400 shares during the last quarter. Finally, Mount Vernon Associates Inc. MD raised its stake in shares of Enphase Energy by 3.1% during the 3rd quarter. Mount Vernon Associates Inc. MD now owns 13,160 shares of the semiconductor company’s stock worth $466,000 after acquiring an additional 400 shares in the last quarter. Institutional investors 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.