DZ Bank Initiates Coverage on Enphase Energy (NASDAQ:ENPH)

Equities research analysts at DZ Bank initiated coverage on shares of Enphase Energy (NASDAQ:ENPH) in a report released on Wednesday, MarketBeat.com reports. The brokerage set a “hold” rating and a $116.00 price target on the semiconductor company’s stock. DZ Bank’s target price would indicate a potential upside of 6.26% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. BMO Capital Markets lifted their price target on shares of Enphase Energy from $106.00 to $110.00 and gave the company a “market perform” rating in a research note on Wednesday, February 7th. Mizuho lifted their price target on shares of Enphase Energy from $131.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Truist Financial upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and lifted their price target for the company from $85.00 to $145.00 in a research note on Tuesday, January 23rd. StockNews.com lowered shares of Enphase Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Finally, Citigroup lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and lowered their price target for the company from $126.00 to $121.00 in a research note on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $149.94.

Enphase Energy Trading Down 2.6 %

Shares of NASDAQ:ENPH opened at $109.17 on Wednesday. Enphase Energy has a 12 month low of $73.49 and a 12 month high of $228.50. The company has a quick ratio of 4.19, a current ratio of 4.59 and a debt-to-equity ratio of 1.32. The company’s fifty day simple moving average is $120.17 and its 200 day simple moving average is $112.17. The firm has a market cap of $14.85 billion, a price-to-earnings ratio of 35.68, a PEG ratio of 3.06 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. The business had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million. As a group, research analysts forecast that Enphase Energy will post 2.09 EPS for the current fiscal year.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $120.59, for a total value of $2,928,528.15. Following the completion of the sale, the director now owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $116.29, for a total value of $581,450.00. Following the completion of the transaction, the executive vice president now directly owns 119,948 shares in the company, valued at approximately $13,948,752.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the transaction, the director now owns 3,126 shares of the company’s stock, valued at $376,964.34. The disclosure for this sale can be found here. Insiders sold 34,285 shares of company stock valued at $4,054,428 in the last quarter. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bogart Wealth LLC acquired a new position in shares of Enphase Energy in the 4th quarter valued at approximately $26,000. LM Advisors LLC acquired a new position in Enphase Energy during the 4th quarter worth approximately $26,000. KB Financial Partners LLC acquired a new position in Enphase Energy during the 1st quarter worth approximately $28,000. First Capital Advisors Group LLC. acquired a new position in Enphase Energy during the 2nd quarter worth approximately $28,000. Finally, Resurgent Financial Advisors LLC acquired a new position in Enphase Energy during the 4th quarter worth approximately $29,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

About Enphase Energy

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.