B. Riley Comments on Enphase Energy, Inc.’s Q2 2024 Earnings (NASDAQ:ENPH)

Enphase Energy, Inc. (NASDAQ:ENPH) – Research analysts at B. Riley decreased their Q2 2024 earnings per share estimates for Enphase Energy in a research report issued on Wednesday, April 24th. B. Riley analyst C. Souther now anticipates that the semiconductor company will earn $0.25 per share for the quarter, down from their prior estimate of $0.40. B. Riley currently has a “Buy” rating and a $149.00 target price on the stock. The consensus estimate for Enphase Energy’s current full-year earnings is $1.56 per share. B. Riley also issued estimates for Enphase Energy’s Q4 2024 earnings at $0.79 EPS, FY2024 earnings at $1.66 EPS and FY2025 earnings at $3.56 EPS.

A number of other brokerages also recently commented on ENPH. Canaccord Genuity Group started coverage on shares of Enphase Energy in a research report on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price objective for the company. Craig Hallum reduced their price objective on shares of Enphase Energy from $159.00 to $147.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Citigroup downgraded shares of Enphase Energy from a “buy” rating to a “neutral” rating and reduced their price target for the company from $126.00 to $121.00 in a research report on Friday, April 5th. JPMorgan Chase & Co. lowered their price target on Enphase Energy from $141.00 to $128.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Finally, StockNews.com lowered Enphase Energy from a “hold” rating to a “sell” rating in a report on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $137.41.

Enphase Energy Trading Up 3.8 %

NASDAQ:ENPH opened at $111.93 on Monday. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $192.22. The firm has a market cap of $15.23 billion, a P/E ratio of 58.30, a PEG ratio of 3.29 and a beta of 1.47. The company has a current ratio of 4.16, a quick ratio of 4.19 and a debt-to-equity ratio of 1.30. The stock’s 50 day simple moving average is $117.82 and its 200-day simple moving average is $111.63.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The firm had revenue of $302.57 million during the quarter, compared to analysts’ expectations of $327.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%.

Insiders Place Their Bets

In other news, Director Steven J. Gomo sold 20,000 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the transaction, the director now directly owns 118,360 shares of the company’s stock, valued at $12,391,108.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Enphase Energy news, Director Steven J. Gomo sold 20,000 shares of Enphase Energy stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the sale, the director now directly owns 118,360 shares in the company, valued at approximately $12,391,108.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $108.89, for a total transaction of $544,450.00. Following the completion of the sale, the executive vice president now directly owns 124,948 shares in the company, valued at $13,605,587.72. The disclosure for this sale can be found here. Insiders sold a total of 54,285 shares of company stock worth $6,148,228 in the last 90 days. 3.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ENPH. GAMMA Investing LLC acquired a new position in shares of Enphase Energy in the 4th quarter valued at about $206,000. Legato Capital Management LLC bought a new position in shares of Enphase Energy during the fourth quarter worth about $1,542,000. Assenagon Asset Management S.A. increased its holdings in shares of Enphase Energy by 348.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company’s stock worth $29,525,000 after acquiring an additional 173,628 shares during the period. AustralianSuper Pty Ltd bought a new stake in Enphase Energy in the 4th quarter valued at about $566,000. Finally, Glenmede Trust Co. NA lifted its position in Enphase Energy by 92.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 3,162 shares of the semiconductor company’s stock valued at $380,000 after purchasing an additional 1,521 shares during the last quarter. Institutional investors own 72.12% of the company’s stock.

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.