Enphase Energy (NASDAQ:ENPH) Price Target Increased to $240.00 by Analysts at Cowen

Enphase Energy (NASDAQ:ENPH – Get Rating) had its target price hoisted by stock analysts at Cowen from $227.00 to $240.00 in a report issued on Wednesday, The Fly reports. Cowen’s target price would indicate a potential upside of 56.02% from the company’s previous close.

Several other research firms have also issued reports on ENPH. StockNews.com assumed coverage on Enphase Energy in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Piper Sandler cut their price target on shares of Enphase Energy from $230.00 to $220.00 in a research note on Thursday, April 21st. Bank of America lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and cut their price target for the stock from $297.00 to $187.00 in a research note on Wednesday, January 5th. Wells Fargo & Company cut their price target on shares of Enphase Energy from $313.00 to $255.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 8th. Finally, TheStreet upgraded shares of Enphase Energy from a “c+” rating to a “b” rating in a research note on Thursday, April 7th. Seven investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $238.63.

Shares of NASDAQ ENPH opened at $153.83 on Wednesday. The company has a 50 day simple moving average of $176.96 and a 200-day simple moving average of $185.08. The company has a market capitalization of $20.76 billion, a P/E ratio of 150.82 and a beta of 1.27. The company has a debt-to-equity ratio of 2.21, a current ratio of 3.33 and a quick ratio of 3.16. Enphase Energy has a 1 year low of $108.88 and a 1 year high of $282.46.

Enphase Energy (NASDAQ:ENPH – Get Rating) last posted its quarterly earnings data on Tuesday, April 26th. The semiconductor company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.40. Enphase Energy had a net margin of 10.52% and a return on equity of 39.09%. During the same quarter in the previous year, the company posted $0.48 earnings per share. As a group, research analysts expect that Enphase Energy will post 2.25 EPS for the current year.

In related news, Director Joseph Ian Malchow sold 4,460 shares of the stock in a transaction on Monday, March 14th. The stock was sold at an average price of $156.05, for a total transaction of $695,983.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Badrinarayanan Kothandaraman sold 80,000 shares of the stock in a transaction on Thursday, March 10th. The stock was sold at an average price of $175.65, for a total value of $14,052,000.00. The disclosure for this sale can be found here. Insiders sold 255,577 shares of company stock valued at $43,780,910 over the last three months. Corporate insiders own 5.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kistler Tiffany Companies LLC lifted its holdings in Enphase Energy by 1,811.1% in the third quarter. Kistler Tiffany Companies LLC now owns 172 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 163 shares during the period. American National Bank lifted its holdings in Enphase Energy by 80.5% in the fourth quarter. American National Bank now owns 148 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 66 shares during the period. Retirement Planning Co of New England Inc. acquired a new stake in Enphase Energy in the fourth quarter valued at $27,000. AlphaCentric Advisors LLC acquired a new stake in Enphase Energy in the fourth quarter valued at $27,000. Finally, Horan Securities Inc. acquired a new stake in Enphase Energy in the fourth quarter valued at $29,000. 70.39% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Company Profile (Get Rating)

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 services.

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