Enphase Energy (NASDAQ:ENPH) Stock Price Down 7.9% – Should You Sell?

Enphase Energy, Inc. (NASDAQ:ENPH) shares dropped 7.9% during mid-day trading on Tuesday . The company traded as low as $46.57 and last traded at $45.7530. Approximately 1,150,614 shares changed hands during trading, a decline of 84% from the average daily volume of 7,108,819 shares. The stock had previously closed at $49.69.

Analyst Upgrades and Downgrades

ENPH has been the topic of a number of analyst reports. Barclays cut their price objective on shares of Enphase Energy from $31.00 to $30.00 and set an “underweight” rating on the stock in a report on Monday, May 4th. JPMorgan Chase & Co. cut their price objective on shares of Enphase Energy from $39.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, April 29th. Morgan Stanley set a $27.00 price objective on shares of Enphase Energy in a report on Friday, May 8th. HSBC raised shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Wednesday, February 4th. Finally, Susquehanna lowered their target price on Enphase Energy from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $40.68.

Enphase Energy Stock Down 3.7%

The stock has a 50 day moving average of $38.04 and a 200-day moving average of $36.58. The firm has a market capitalization of $6.31 billion, a P/E ratio of 47.49 and a beta of 1.26. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.20 and a current ratio of 3.80.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04. Enphase Energy had a return on equity of 16.88% and a net margin of 9.64%.The business had revenue of $282.90 million for the quarter, compared to analysts’ expectations of $282.28 million. During the same period in the previous year, the business posted $0.68 EPS. The firm’s quarterly revenue was down 20.6% compared to the same quarter last year. Research analysts predict that Enphase Energy, Inc. will post 0.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Enphase Energy news, Director Thurman J. Rodgers sold 137,250 shares of Enphase Energy stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $43.61, for a total transaction of $5,985,472.50. Following the completion of the transaction, the director owned 1,597,641 shares of the company’s stock, valued at $69,673,124.01. The trade was a 7.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ENPH. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings 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 worth $25,000 after purchasing an additional 514 shares in the last quarter. Glass Jacobson Investment Advisors llc grew its holdings in shares of Enphase Energy by 77.8% during the fourth 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. Stance Capital LLC purchased a new position in shares of Enphase Energy during the third quarter worth about $32,000. Activest Wealth Management grew 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 worth $33,000 after purchasing an additional 1,040 shares in the last quarter. Finally, Ascentis Independent Advisors purchased a new position in shares of Enphase Energy during the first quarter worth about $33,000. Hedge funds and other 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.