Enphase Energy (NASDAQ:ENPH) Trading 6.1% Higher – Should You Buy?

Enphase Energy, Inc. (NASDAQ:ENPH) rose 6.1% during trading on Thursday . The company traded as high as $65.00 and last traded at $64.07. Approximately 4,657,551 shares were traded during mid-day trading, an increase of 16% from the average daily volume of 4,007,202 shares. The stock had previously closed at $60.39.

Wall Street Analysts Forecast Growth

ENPH has been the topic of a number of recent research reports. Morgan Stanley dropped their price objective on shares of Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Bank of America dropped their price target on shares of Enphase Energy from $72.00 to $62.00 and set an “underperform” rating on the stock in a research note on Thursday, November 7th. Raymond James dropped their price target on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Janney Montgomery Scott lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research note on Wednesday, October 23rd. Finally, Guggenheim lowered shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price target on the stock. in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $103.39.

Enphase Energy Stock Up 5.2 %

The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. The firm has a market cap of $8.59 billion, a PE ratio of 145.61, a P/E/G ratio of 6.75 and a beta of 1.77. The firm’s 50 day moving average is $97.22 and its 200-day moving average is $108.45.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The company had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. During the same period last year, the company posted $0.84 EPS. The business’s revenue for the quarter was down 30.9% on a year-over-year basis. As a group, equities research analysts expect that Enphase Energy, Inc. will post 0.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Benjamin Edwards Inc. increased its position in Enphase Energy by 2.8% during the second quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock worth $335,000 after purchasing an additional 93 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Enphase Energy by 0.9% in the second quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock worth $1,165,000 after acquiring an additional 100 shares in the last quarter. Green Alpha Advisors LLC increased its position in shares of Enphase Energy by 1.4% in the third quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock worth $808,000 after acquiring an additional 102 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Enphase Energy by 1.9% in the second quarter. Crossmark Global Holdings Inc. now owns 5,591 shares of the semiconductor company’s stock worth $557,000 after acquiring an additional 106 shares in the last quarter. Finally, Centaurus Financial Inc. increased its position in shares of Enphase Energy by 10.2% in the second quarter. Centaurus Financial Inc. now owns 1,280 shares of the semiconductor company’s stock worth $128,000 after acquiring an additional 118 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Company Profile

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.