Enphase Energy (NASDAQ:ENPH) Shares Up 5.2% – Still a Buy?

Enphase Energy, Inc. (NASDAQ:ENPH)’s share price rose 5.2% on Monday . The stock traded as high as $65.10 and last traded at $65.50. Approximately 1,819,040 shares traded hands during trading, a decline of 46% from the average daily volume of 3,346,269 shares. The stock had previously closed at $62.28.

Analyst Upgrades and Downgrades

ENPH has been the subject of several recent research reports. TD Cowen dropped their price target on Enphase Energy from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, January 27th. HSBC cut Enphase Energy from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $154.00 to $81.00 in a report on Friday, November 8th. Northland Securities decreased their price objective on Enphase Energy from $110.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Hsbc Global Res cut Enphase Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. Finally, Canaccord Genuity Group cut Enphase Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $93.06.

Enphase Energy Stock Performance

The firm has a market capitalization of $8.63 billion, a price-to-earnings ratio of 145.25, a P/E/G ratio of 8.22 and a beta of 1.68. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. The company has a 50-day moving average price of $69.27 and a 200-day moving average price of $89.70.

Institutional Investors Weigh In On Enphase Energy

Institutional investors have recently added to or reduced their stakes in the company. Avior Wealth Management LLC lifted its position in Enphase Energy by 6,975.0% in the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 279 shares during the period. UMB Bank n.a. increased its holdings in shares of Enphase Energy by 784.8% in the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 259 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Enphase Energy in the third quarter valued at $34,000. Stone House Investment Management LLC bought a new position in shares of Enphase Energy in the third quarter valued at $34,000. Finally, Quarry LP bought a new position in shares of Enphase Energy in the third quarter valued at $37,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.