Enphase Energy (ENPH) Trading Down 6.6%

Enphase Energy Inc (NASDAQ:ENPH)’s share price traded down 6.6% during trading on Friday . The company traded as low as $2.26 and last traded at $2.13. 535,710 shares were traded during mid-day trading, a decline of 38% from the average session volume of 863,419 shares. The stock had previously closed at $2.28.

A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. ValuEngine downgraded shares of Enphase Energy from a “sell” rating to a “strong sell” rating in a report on Friday, December 1st. Oppenheimer restated a “buy” rating on shares of Enphase Energy in a research note on Monday. Cowen restated a “buy” rating and set a $2.25 price target on shares of Enphase Energy in a research note on Friday, November 10th. Finally, Craig Hallum restated a “buy” rating and set a $4.00 price target on shares of Enphase Energy in a research note on Monday, November 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $2.10.

The stock has a market capitalization of $195.01, a P/E ratio of -3.09 and a beta of 1.36. The company has a debt-to-equity ratio of -4.75, a current ratio of 1.59 and a quick ratio of 1.30.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, November 7th. The semiconductor company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.04. Enphase Energy had a negative return on equity of 1,232.10% and a negative net margin of 18.66%. The business had revenue of $77.00 million for the quarter, compared to analyst estimates of $77.13 million. During the same quarter in the previous year, the firm earned ($0.28) earnings per share. The company’s revenue was down 13.2% on a year-over-year basis. research analysts forecast that Enphase Energy Inc will post -0.57 earnings per share for the current year.

In other news, Director John Howard Weber sold 55,526 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $2.64, for a total transaction of $146,588.64. Following the sale, the director now owns 35,326 shares in the company, valued at $93,260.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.37% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. Tenzing Global Management LLC boosted its position in Enphase Energy by 600.0% in the third quarter. Tenzing Global Management LLC now owns 4,200,000 shares of the semiconductor company’s stock valued at $6,384,000 after buying an additional 3,600,000 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Enphase Energy by 10,872.8% in the second quarter. Goldman Sachs Group Inc. now owns 1,846,393 shares of the semiconductor company’s stock valued at $1,597,000 after buying an additional 1,829,566 shares during the last quarter. Gilder Gagnon Howe & Co. LLC boosted its position in Enphase Energy by 119.2% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 1,672,927 shares of the semiconductor company’s stock valued at $2,543,000 after buying an additional 909,801 shares during the last quarter. Royce & Associates LP purchased a new stake in Enphase Energy in the fourth quarter valued at approximately $1,533,000. Finally, Old West Investment Management LLC boosted its position in Enphase Energy by 55.1% in the third quarter. Old West Investment Management LLC now owns 1,619,108 shares of the semiconductor company’s stock valued at $2,461,000 after buying an additional 575,453 shares during the last quarter. Institutional investors and hedge funds own 22.32% of the company’s stock.

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Enphase Energy Company Profile

Enphase Energy, Inc is a provider of energy management solutions. The Company is engaged in designing, developing, manufacturing and selling microinverter systems for the solar photovoltaic industry. Its semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity.

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