Enphase Energy (NASDAQ:ENPH) Shares Gap Down - Here's What Happened

Shares of Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $65.83, but opened at $63.70. Enphase Energy shares last traded at $63.99, with a volume of 487,891 shares.

Analyst Ratings Changes

ENPH has been the subject of several analyst reports. Raymond James cut their target price on Enphase Energy from $140.00 to $130.00 and set an "outperform" rating on the stock in a report on Wednesday, October 23rd. Roth Mkm cut their price objective on shares of Enphase Energy from $130.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, October 23rd. Citigroup raised their price objective on Enphase Energy from $71.00 to $72.00 and gave the company a "neutral" rating in a research note on Wednesday, January 8th. Royal Bank of Canada reduced their target price on Enphase Energy from $85.00 to $71.00 and set a "sector perform" rating for the company in a report on Friday, November 22nd. Finally, Oppenheimer cut their target price on shares of Enphase Energy from $134.00 to $101.00 and set an "outperform" rating for the company in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Enphase Energy has an average rating of "Hold" and a consensus price target of $95.59.

Enphase Energy Trading Up 0.3 %

The firm has a market capitalization of $8.61 billion, a PE ratio of 144.75, a price-to-earnings-growth ratio of 7.87 and a beta of 1.68. 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 company's 50-day simple moving average is $69.29 and its 200 day simple moving average is $93.19.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its quarterly earnings data 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 net margin of 4.91% and a return on equity of 10.56%. The firm had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. During the same period in the prior year, the company posted $0.84 earnings per share. The firm's revenue for the quarter was down 30.9% compared to the same quarter last year. As a group, sell-side analysts expect that Enphase Energy, Inc. will post 0.92 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new stake in shares of Enphase Energy during the third quarter valued at about $1,273,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Enphase Energy by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 880,340 shares of the semiconductor company's stock worth $99,496,000 after acquiring an additional 16,234 shares during the period. Erste Asset Management GmbH purchased a new stake in shares of Enphase Energy in the third quarter valued at approximately $37,475,000. Mizuho Securities USA LLC grew its position in Enphase Energy by 4,177.9% during the third quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company's stock worth $50,737,000 after buying an additional 438,424 shares during the period. Finally, Impax Asset Management Group plc boosted its position in shares of Enphase Energy by 15.9% in the 3rd quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company's stock worth $25,555,000 after buying an additional 31,008 shares in the last quarter. 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.