Enphase Energy (NASDAQ:ENPH) Stock Price Down 5.5% – Should You Sell?

Enphase Energy, Inc. (NASDAQ:ENPH) was down 5.5% during trading on Monday . The company traded as low as $41.55 and last traded at $41.6950. Approximately 2,422,633 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 6,961,634 shares. The stock had previously closed at $44.11.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Oppenheimer upped their price objective on shares of Enphase Energy from $67.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. The Goldman Sachs Group raised their target price on shares of Enphase Energy from $45.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Wells Fargo & Company boosted their target price on shares of Enphase Energy from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Enphase Energy from $35.00 to $38.00 and gave the stock a “hold” rating in a report on Wednesday, February 4th. Finally, Mizuho set a $39.00 price objective on shares of Enphase Energy in a research note on Wednesday, February 4th. Ten research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $43.28.

Enphase Energy Stock Performance

The company has a debt-to-equity ratio of 0.53, a current ratio of 2.07 and a quick ratio of 1.84. The stock has a market cap of $5.49 billion, a P/E ratio of 32.50 and a beta of 1.35. The stock has a 50-day simple moving average of $42.55 and a 200-day simple moving average of $36.76.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, February 3rd. The semiconductor company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.19. Enphase Energy had a net margin of 11.69% and a return on equity of 20.31%. The firm had revenue of $343.32 million during the quarter, compared to analysts’ expectations of $340.45 million. During the same quarter in the prior year, the business earned $0.94 earnings per share. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. Research analysts forecast that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Insider Activity at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 1,100 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $52.05, for a total transaction of $57,255.00. Following the sale, the director owned 9,370 shares of the company’s stock, valued at approximately $487,708.50. The trade was a 10.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Badrinarayanan Kothandaraman purchased 5,000 shares of the stock in a transaction dated Thursday, February 5th. The shares were bought at an average price of $51.98 per share, with a total value of $259,900.00. Following the completion of the acquisition, the chief executive officer directly owned 1,640,632 shares of the company’s stock, valued at approximately $85,280,051.36. This represents a 0.31% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Enphase Energy

A number of institutional investors and hedge funds have recently bought and sold shares of ENPH. Norges Bank bought a new position in Enphase Energy in the 4th quarter valued at approximately $118,190,000. Invesco Ltd. boosted its position in Enphase Energy by 28.1% during the 2nd quarter. Invesco Ltd. now owns 6,743,674 shares of the semiconductor company’s stock worth $267,387,000 after buying an additional 1,479,153 shares during the period. Federated Hermes Inc. grew its holdings in Enphase Energy by 264.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,477,751 shares of the semiconductor company’s stock worth $58,593,000 after acquiring an additional 1,072,602 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in Enphase Energy by 2,322.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 876,983 shares of the semiconductor company’s stock worth $34,772,000 after acquiring an additional 840,787 shares during the last quarter. Finally, Sora Investors LLC acquired a new position in Enphase Energy in the 4th quarter valued at approximately $25,998,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

About Enphase Energy

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.