Enphase Energy (NASDAQ:ENPH) Stock Price Up 4% – Time to Buy?

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) traded up 4% on Tuesday . The stock traded as high as $74.90 and last traded at $74.49. 464,263 shares changed hands during trading, a decline of 88% from the average session volume of 4,005,152 shares. The stock had previously closed at $71.62.

Wall Street Analyst Weigh In

ENPH has been the topic of several research analyst reports. Jefferies Financial Group lowered Enphase Energy from a “hold” rating to an “underperform” rating and reduced their price objective for the company from $93.00 to $61.00 in a research note on Thursday, November 7th. Northland Securities reduced their price target on shares of Enphase Energy from $110.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. Morgan Stanley decreased their target price on shares of Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, November 15th. Susquehanna cut their price objective on Enphase Energy from $104.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Finally, Barclays lowered their target price on Enphase Energy from $129.00 to $114.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Enphase Energy currently has a consensus rating of “Hold” and an average price target of $100.33.

Enphase Energy Stock Performance

The company has a market capitalization of $9.30 billion, a price-to-earnings ratio of 156.36, a P/E/G ratio of 22.03 and a beta of 1.69. The company has a 50 day moving average price of $76.71 and a 200 day moving average price of $100.31. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly 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). The firm had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The firm’s revenue was down 30.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.84 EPS. Equities research analysts predict that Enphase Energy, Inc. will post 0.94 earnings per share for the current fiscal year.

Institutional Trading of Enphase Energy

Several hedge funds have recently bought and sold shares of ENPH. Avior Wealth Management LLC lifted its stake in shares of 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 in the last quarter. 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 worth $33,000 after acquiring an additional 259 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Enphase Energy in the 3rd quarter worth about $34,000. Stone House Investment Management LLC acquired a new stake in shares of Enphase Energy in the 3rd quarter worth about $34,000. Finally, Quarry LP bought a new position in Enphase Energy in the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

About Enphase Energy

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.