Enphase Energy (NASDAQ:ENPH) Shares Down 5.2% - What's Next?

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report)'s share price dropped 5.2% on Thursday . The stock traded as low as $99.33 and last traded at $99.86. Approximately 1,669,875 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 3,706,958 shares. The stock had previously closed at $105.32.

Wall Street Analysts Forecast Growth

ENPH has been the topic of several recent research reports. Craig Hallum boosted their price objective on shares of Enphase Energy from $147.00 to $153.00 and gave the stock a "buy" rating in a research report on Wednesday, July 24th. Canaccord Genuity Group lowered their price target on shares of Enphase Energy from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, July 24th. Jefferies Financial Group restated a "hold" rating and set a $115.00 price objective (up from $111.00) on shares of Enphase Energy in a research report on Wednesday, September 4th. JPMorgan Chase & Co. increased their target price on Enphase Energy from $124.00 to $130.00 and gave the company an "overweight" rating in a report on Tuesday, July 16th. Finally, Morgan Stanley upped their price objective on Enphase Energy from $100.00 to $102.00 and gave the company an "equal weight" rating in a research report on Wednesday. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $126.99.

Enphase Energy Trading Down 5.8 %

The firm's 50 day simple moving average is $112.43 and its 200-day simple moving average is $113.77. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $13.50 billion, a PE ratio of 51.66, a P/E/G ratio of 6.19 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 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 company had revenue of $303.80 million during the quarter, compared to analysts' expectations of $309.73 million. During the same period last year, the business earned $1.16 earnings per share. The company's revenue for the quarter was down 57.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Enphase Energy, Inc. will post 1.19 EPS for the current year.

Institutional Trading of Enphase Energy

Several large investors have recently bought and sold shares of the company. Exchange Traded Concepts LLC increased its position in shares of Enphase Energy by 821.7% during the third quarter. Exchange Traded Concepts LLC now owns 2,756 shares of the semiconductor company's stock worth $311,000 after acquiring an additional 2,457 shares during the last quarter. Evexia Wealth LLC increased its holdings in Enphase Energy by 30.9% during the 3rd quarter. Evexia Wealth LLC now owns 3,014 shares of the semiconductor company's stock worth $321,000 after purchasing an additional 711 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Enphase Energy by 500.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the semiconductor company's stock valued at $136,000 after purchasing an additional 1,000 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Enphase Energy by 784.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company's stock valued at $33,000 after buying an additional 259 shares during the last quarter. Finally, Leibman Financial Services Inc. grew its position in shares of Enphase Energy by 1.7% during the third quarter. Leibman Financial Services Inc. now owns 18,395 shares of the semiconductor company's stock worth $2,079,000 after buying an additional 315 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.