Guggenheim Downgrades Enphase Energy (NASDAQ:ENPH) to Sell

Guggenheim cut shares of Enphase Energy (NASDAQ:ENPH) from a neutral rating to a sell rating in a research report report published on Wednesday morning, MarketBeat.com reports. The firm currently has $92.00 price objective on the semiconductor company’s stock.

ENPH has been the topic of several other reports. B. Riley upped their price target on shares of Enphase Energy from $121.00 to $149.00 and gave the company a buy rating in a report on Monday. Wells Fargo & Company raised shares of Enphase Energy from an equal weight rating to an overweight rating and increased their target price for the stock from $98.00 to $141.00 in a report on Monday, January 8th. Truist Financial dropped their target price on shares of Enphase Energy from $145.00 to $130.00 and set a buy rating on the stock in a report on Tuesday. Oppenheimer raised shares of Enphase Energy from a market perform rating to an outperform rating and set a $133.00 target price on the stock in a report on Wednesday, February 7th. Finally, KeyCorp reissued a sector weight rating on shares of Enphase Energy in a report on Thursday, January 4th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $141.00.

Enphase Energy Trading Down 5.6 %

ENPH opened at $107.17 on Wednesday. The stock has a market capitalization of $14.57 billion, a PE ratio of 35.02, a P/E/G ratio of 3.16 and a beta of 1.47. The firm’s fifty day moving average price is $119.28 and its 200 day moving average price is $111.97. The company has a debt-to-equity ratio of 1.32, a current ratio of 4.59 and a quick ratio of 4.19. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $228.36.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. The firm had revenue of $302.57 million for the quarter, compared to analysts’ expectations of $327.06 million. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. As a group, research analysts expect that Enphase Energy will post 2.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the completion of the transaction, the executive vice president now directly owns 124,948 shares in the company, valued at $13,605,587.72. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the completion of the transaction, the executive vice president now directly owns 124,948 shares in the company, valued at $13,605,587.72. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was 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 a total of 34,285 shares of company stock worth $4,054,428 over the last ninety days. 3.40% of the stock is currently owned by company insiders.

Institutional Trading of Enphase Energy

Hedge funds have recently made changes to their positions in the stock. Legato Capital Management LLC purchased a new stake in shares of Enphase Energy in the fourth quarter worth approximately $1,542,000. Assenagon Asset Management S.A. lifted its position in shares of Enphase Energy by 348.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company’s stock worth $29,525,000 after purchasing an additional 173,628 shares in the last quarter. AustralianSuper Pty Ltd purchased a new stake in shares of Enphase Energy in the fourth quarter worth approximately $566,000. Glenmede Trust Co. NA lifted its position in shares of Enphase Energy by 92.7% in the third quarter. Glenmede Trust Co. NA now owns 3,162 shares of the semiconductor company’s stock worth $380,000 after purchasing an additional 1,521 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Enphase Energy by 8.2% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 141,596 shares of the semiconductor company’s stock worth $17,013,000 after purchasing an additional 10,729 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

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.