Enphase Energy (NASDAQ:ENPH) Stock Price Down 5.2%

Enphase Energy, Inc. (NASDAQ:ENPH – Get Rating)’s share price traded down 5.2% during trading on Friday . The stock traded as low as $189.69 and last traded at $190.55. 992,049 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 4,261,299 shares. The stock had previously closed at $201.10.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wells Fargo & Company increased their target price on Enphase Energy from $326.00 to $379.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Oppenheimer lifted their price objective on shares of Enphase Energy from $323.00 to $328.00 in a research report on Wednesday, February 8th. Cowen boosted their target price on Enphase Energy from $335.00 to $341.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 8th. Citigroup increased their price objective on shares of Enphase Energy from $205.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, March 10th. Finally, JPMorgan Chase & Co. dropped their target price on Enphase Energy from $310.00 to $307.00 and set an “overweight” rating for the company in a report on Wednesday, February 8th. Seven equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $306.20.

Enphase Energy Trading Down 8.7 %

The stock has a market cap of $25.07 billion, a P/E ratio of 66.30, a PEG ratio of 1.16 and a beta of 1.49. The business’s 50 day simple moving average is $217.78 and its two-hundred day simple moving average is $265.12. The company has a quick ratio of 3.31, a current ratio of 3.55 and a debt-to-equity ratio of 1.45.

Insider Transactions at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 4,500 shares of the firm’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $214.62, for a total value of $965,790.00. Following the transaction, the director now directly owns 1,600 shares of the company’s stock, valued at $343,392. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP David A. Ranhoff sold 7,500 shares of the business’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $203.25, for a total value of $1,524,375.00. Following the sale, the executive vice president now directly owns 97,102 shares in the company, valued at approximately $19,735,981.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Mora sold 4,500 shares of the business’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $214.62, for a total transaction of $965,790.00. Following the sale, the director now directly owns 1,600 shares in the company, valued at approximately $343,392. The disclosure for this sale can be found here. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp grew its holdings in shares of Enphase Energy by 21.6% during the second quarter. Mackenzie Financial Corp now owns 10,795 shares of the semiconductor company’s stock worth $2,108,000 after purchasing an additional 1,920 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Enphase Energy by 12.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,508 shares of the semiconductor company’s stock worth $1,466,000 after buying an additional 831 shares during the last quarter. Signaturefd LLC raised its position in shares of Enphase Energy by 31.5% during the 3rd quarter. Signaturefd LLC now owns 1,569 shares of the semiconductor company’s stock valued at $435,000 after buying an additional 376 shares in the last quarter. Jackson Square Capital LLC lifted its holdings in shares of Enphase Energy by 3.9% during the 3rd quarter. Jackson Square Capital LLC now owns 1,738 shares of the semiconductor company’s stock worth $482,000 after acquiring an additional 65 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new position in Enphase Energy in the second quarter worth $4,836,000. 73.79% of the stock is currently owned by institutional investors.

Enphase Energy Company Profile

(Get Rating)

Enphase Energy, Inc is a global energy technology company, which engages in the design, development, manufacture, and sale of micro inverter systems for the solar photovoltaic industry. The firm’s products include IQ 7 Microinverter Series, IQ Battery, IQ Envoy, IQ Microinverter Accessories, IQ Envoy Accessories and Enlighten & Apps.