Enphase Energy (NASDAQ:ENPH) Trading Down 4.5% Following Analyst Downgrade

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report)'s stock price fell 4.5% on Wednesday after BMO Capital Markets lowered their price target on the stock from $115.00 to $114.00. BMO Capital Markets currently has a market perform rating on the stock. Enphase Energy traded as low as $104.83 and last traded at $106.15. 171,787 shares were traded during trading, a decline of 95% from the average session volume of 3,751,107 shares. The stock had previously closed at $111.20.

Several other analysts have also issued reports on the company. Canaccord Genuity Group dropped their price objective on Enphase Energy from $150.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their price target on shares of Enphase Energy from $124.00 to $130.00 and gave the company an "overweight" rating in a report on Tuesday, July 16th. HSBC upgraded Enphase Energy from a "hold" rating to a "buy" rating and set a $166.00 price objective for the company in a report on Monday, June 10th. BNP Paribas upgraded Enphase Energy from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $120.00 to $144.00 in a research note on Wednesday, August 7th. Finally, Canaccord Genuity Group dropped their price target on Enphase Energy from $150.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, July 24th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $128.86.

Institutional Trading of Enphase Energy

A number of hedge funds have recently added to or reduced their stakes in ENPH. Manchester Capital Management LLC boosted its holdings in shares of Enphase Energy by 1,068.4% during the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company's stock valued at $27,000 after acquiring an additional 203 shares in the last quarter. Chilton Capital Management LLC raised its position in Enphase Energy by 2,733.3% in the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company's stock valued at $31,000 after purchasing an additional 246 shares during the last quarter. YHB Investment Advisors Inc. acquired a new stake in shares of Enphase Energy during the first quarter valued at about $35,000. TFO Wealth Partners LLC grew its holdings in shares of Enphase Energy by 6,720.0% during the fourth quarter. TFO Wealth Partners LLC now owns 341 shares of the semiconductor company's stock worth $45,000 after purchasing an additional 336 shares during the last quarter. Finally, Quest Partners LLC increased its stake in shares of Enphase Energy by 11,525.0% in the second quarter. Quest Partners LLC now owns 465 shares of the semiconductor company's stock valued at $46,000 after buying an additional 461 shares during the period. Institutional investors and hedge funds own 72.12% of the company's stock.

Enphase Energy Trading Down 2.6 %

The business's fifty day moving average is $113.75 and its 200-day moving average is $114.16. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. The firm has a market cap of $14.73 billion, a P/E ratio of 56.36, a price-to-earnings-growth ratio of 6.19 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The business had revenue of $303.80 million for the quarter, compared to the consensus estimate of $309.73 million. During the same period in the previous year, the business posted $1.16 EPS. Enphase Energy's revenue was down 57.3% on a year-over-year basis. Analysts predict that Enphase Energy, Inc. will post 1.19 EPS for the current year.

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.