Enphase Energy (NASDAQ:ENPH) Stock Price Up 6.1% – Time to Buy?

Enphase Energy, Inc. (NASDAQ:ENPH) shot up 6.1% during trading on Tuesday . The company traded as high as $76.50 and last traded at $75.75. 1,025,021 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 2,245,612 shares. The stock had previously closed at $71.38.

Analyst Upgrades and Downgrades

ENPH has been the subject of a number of research reports. Citigroup dropped their target price on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. OTR Global upgraded shares of Enphase Energy from a “negative” rating to a “mixed” rating in a research note on Friday, December 20th. Bank of America decreased their target price on shares of Enphase Energy from $72.00 to $62.00 and set an “underperform” rating on the stock in a research report on Thursday, November 7th. BMO Capital Markets cut their price target on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a research note on Monday, October 14th. Finally, Evercore ISI dropped their price objective on Enphase Energy from $133.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $100.33.

Enphase Energy Price Performance

The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of 173.86, a P/E/G ratio of 22.03 and a beta of 1.68. The company has a fifty day simple moving average of $71.58 and a 200 day simple moving average of $95.09. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16.

Enphase Energy (NASDAQ:ENPH) last announced its 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). The company had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The business’s revenue was down 30.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.84 earnings per share. Equities research analysts forecast that Enphase Energy, Inc. will post 0.94 EPS for the current fiscal year.

Institutional Trading of Enphase Energy

Institutional investors have recently bought and sold shares of the company. Natixis Advisors LLC acquired a new position in shares of Enphase Energy in the 2nd quarter valued at about $1,076,000. Oregon Public Employees Retirement Fund lifted its stake in 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 valued at $1,165,000 after buying an additional 100 shares during the period. TD Asset Management Inc boosted its holdings in shares of Enphase Energy by 2.6% during the 2nd quarter. TD Asset Management Inc now owns 47,350 shares of the semiconductor company’s stock worth $4,721,000 after buying an additional 1,209 shares in the last quarter. National Bank of Canada FI boosted its holdings in shares of Enphase Energy by 30.2% during the 2nd quarter. National Bank of Canada FI now owns 42,459 shares of the semiconductor company’s stock worth $4,129,000 after buying an additional 9,857 shares in the last quarter. Finally, Private Advisor Group LLC increased its stake in shares of Enphase Energy by 20.1% in the 2nd quarter. Private Advisor Group LLC now owns 19,046 shares of the semiconductor company’s stock valued at $1,899,000 after acquiring an additional 3,182 shares in the last quarter. 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.