Barclays Lowers Enphase Energy (NASDAQ:ENPH) Price Target to $58.00

Enphase Energy (NASDAQ:ENPH) had its target price decreased by stock analysts at Barclays from $86.00 to $58.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. Barclays‘s target price points to a potential upside of 10.39% from the company’s current price.

A number of other research firms have also issued reports on ENPH. BMO Capital Markets lowered their price target on Enphase Energy from $69.00 to $66.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. Piper Sandler lowered their target price on Enphase Energy from $70.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Oppenheimer upped their price target on Enphase Energy from $101.00 to $103.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. Jefferies Financial Group lowered their price objective on shares of Enphase Energy from $54.00 to $44.00 and set an “underperform” rating on the stock in a research report on Thursday, April 3rd. Finally, Truist Financial restated a “hold” rating and set a $65.00 price objective (down previously from $100.00) on shares of Enphase Energy in a research report on Thursday, January 16th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $85.09.

Enphase Energy Trading Up 1.5 %

NASDAQ:ENPH opened at $52.54 on Wednesday. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. Enphase Energy has a 52-week low of $47.48 and a 52-week high of $141.63. The stock’s 50 day moving average price is $59.53 and its 200 day moving average price is $69.68. The company has a market capitalization of $6.96 billion, a PE ratio of 71.00 and a beta of 1.94.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. On average, research analysts anticipate that Enphase Energy will post 2.08 EPS for the current year.

Insiders Place Their Bets

In related news, Director Thurman J. Rodgers sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the transaction, the director now owns 1,881,760 shares of the company’s stock, valued at approximately $115,276,617.60. This represents a 5.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mandy Yang sold 1,319 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction of $83,519.08. Following the sale, the chief financial officer now owns 78,524 shares in the company, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. CX Institutional acquired a new position in Enphase Energy in the first quarter valued at $29,000. Venturi Wealth Management LLC increased its stake in shares of Enphase Energy by 318.1% during the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock valued at $46,000 after acquiring an additional 509 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Enphase Energy during the 4th quarter worth about $47,000. GeoWealth Management LLC boosted its position in shares of Enphase Energy by 56.3% in the fourth quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 321 shares during the last quarter. Finally, Sava Infond d.o.o. purchased a new stake in Enphase Energy in the fourth quarter valued at approximately $69,000. Hedge funds and other 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.