Enphase Energy (NASDAQ:ENPH) Stock Price Up 4% - Here's What Happened

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) shares shot up 4% during mid-day trading on Tuesday . The company traded as high as $74.90 and last traded at $74.49. 464,263 shares were traded 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 Analysts Forecast Growth

ENPH has been the topic of several analyst reports. BMO Capital Markets reduced their target price on Enphase Energy from $114.00 to $104.00 and set a "market perform" rating on the stock in a report on Monday, October 14th. Craig Hallum lowered their price objective on Enphase Energy from $153.00 to $123.00 and set a "buy" rating for the company in a research report on Wednesday, October 23rd. William Blair initiated coverage on Enphase Energy in a research note on Thursday, August 29th. They set a "market perform" rating for the company. Evercore ISI lowered their target price on Enphase Energy from $133.00 to $125.00 and set an "outperform" rating for the company in a report on Wednesday, October 23rd. Finally, TD Cowen lowered their price objective on shares of Enphase Energy from $130.00 to $120.00 and set a "buy" rating for the company in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $100.33.

Enphase Energy Trading Up 2.5 %

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 $9.92 billion, a PE ratio of 166.82, a P/E/G ratio of 22.03 and a beta of 1.69. The firm has a 50 day moving average of $78.05 and a 200 day moving average of $100.91.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released 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). The business 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 quarterly revenue was down 30.9% on a year-over-year basis. During the same period last year, the business posted $0.84 earnings per share. Equities analysts anticipate that Enphase Energy, Inc. will post 0.94 earnings per share for the current year.

Institutional Trading of Enphase Energy

Several institutional investors and hedge funds have recently modified their holdings of the business. Baillie Gifford & Co. increased its stake in Enphase Energy by 57.9% in the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company's stock valued at $626,683,000 after acquiring an additional 2,304,408 shares during the last quarter. Electron Capital Partners LLC lifted its position in Enphase Energy by 1,021.4% in the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company's stock worth $118,028,000 after buying an additional 1,078,154 shares during the last quarter. Anomaly Capital Management LP purchased a new stake in Enphase Energy in the second quarter worth approximately $51,582,000. 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 valued at $50,737,000 after acquiring an additional 438,424 shares during the last quarter. Finally, Aspex Management HK Ltd purchased a new position in shares of Enphase Energy during the third quarter worth approximately $48,442,000. Hedge funds and other institutional investors 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.