Enphase Energy (ENPH) Shares Down 5.7%

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Enphase Energy Inc (NASDAQ:ENPH) shares traded down 5.7% during trading on Wednesday . The company traded as low as $4.53 and last traded at $4.61. 2,269,832 shares traded hands during mid-day trading, a decline of 14% from the average session volume of 2,625,275 shares. The stock had previously closed at $4.89.

A number of research analysts recently commented on the company. ValuEngine upgraded Enphase Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, June 26th. BidaskClub cut Enphase Energy from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 7th. B. Riley set a $8.00 price target on Enphase Energy and gave the stock a “buy” rating in a research report on Wednesday, June 13th. Zacks Investment Research upgraded Enphase Energy from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Tuesday, July 3rd. Finally, HC Wainwright assumed coverage on Enphase Energy in a research report on Wednesday, May 16th. They issued a “buy” rating and a $8.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $7.21.

The company has a market cap of $473.59 million, a price-to-earnings ratio of -8.50 and a beta of 0.42. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of -1.11.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, July 31st. The semiconductor company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The business had revenue of $75.90 million during the quarter, compared to analyst estimates of $76.76 million. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the business earned ($0.08) earnings per share. equities research analysts predict that Enphase Energy Inc will post -0.08 EPS for the current fiscal year.

In other Enphase Energy news, CFO Eric Branderiz acquired 19,880 shares of Enphase Energy stock in a transaction that occurred on Thursday, August 23rd. The shares were acquired at an average cost of $5.03 per share, with a total value of $99,996.40. Following the completion of the purchase, the chief financial officer now directly owns 19,880 shares of the company’s stock, valued at approximately $99,996.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Badrinarayanan Kothandaraman acquired 15,000 shares of Enphase Energy stock in a transaction that occurred on Monday, August 20th. The stock was acquired at an average cost of $4.88 per share, for a total transaction of $73,200.00. Following the completion of the purchase, the chief executive officer now directly owns 95,677 shares of the company’s stock, valued at $466,903.76. The disclosure for this purchase can be found here. Company insiders own 13.52% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System acquired a new stake in Enphase Energy in the second quarter valued at about $115,000. SG Americas Securities LLC acquired a new stake in Enphase Energy in the second quarter valued at about $121,000. PEAK6 Investments L.P. acquired a new stake in Enphase Energy in the second quarter valued at about $193,000. Verition Fund Management LLC acquired a new stake in Enphase Energy in the first quarter valued at about $131,000. Finally, Jane Street Group LLC acquired a new stake in Enphase Energy in the first quarter valued at about $133,000. 39.17% of the stock is currently owned by institutional investors and hedge funds.

About Enphase Energy (NASDAQ:ENPH)

Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells microinverter systems for residential and commercial markets in the United States and internationally. The company's semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity at the individual solar module level.

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