Enphase Energy, Inc. (NASDAQ:ENPH) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) have received a consensus rating of “Reduce” from the thirty analysts that are presently covering the firm, Marketbeat Ratings reports. Thirteen analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $39.9035.

ENPH has been the subject of a number of analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Enphase Energy from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. Evercore ISI set a $33.00 price target on Enphase Energy in a research report on Wednesday, October 29th. Jefferies Financial Group reiterated a “hold” rating and issued a $41.00 price objective on shares of Enphase Energy in a report on Monday, September 29th. Zacks Research cut Enphase Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Finally, Citigroup decreased their target price on Enphase Energy from $32.00 to $31.00 and set a “sell” rating for the company in a report on Wednesday, October 29th.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $30.76 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.88 and a current ratio of 2.04. Enphase Energy has a fifty-two week low of $25.77 and a fifty-two week high of $78.26. The firm has a market cap of $4.03 billion, a PE ratio of 21.21 and a beta of 1.43. The business has a 50 day moving average price of $32.54 and a 200-day moving average price of $36.51.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, October 28th. The semiconductor company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.30. The company had revenue of $410.43 million during the quarter, compared to analyst estimates of $364.64 million. Enphase Energy had a net margin of 12.93% and a return on equity of 25.67%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.65 EPS. Equities research analysts predict that Enphase Energy will post 2.08 earnings per share for the current year.

Insider Buying and Selling at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman bought 10,000 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was purchased at an average cost of $30.93 per share, with a total value of $309,300.00. Following the transaction, the chief executive officer owned 1,630,632 shares in the company, valued at approximately $50,435,447.76. This trade represents a 0.62% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thurman J. Rodgers sold 150,000 shares of Enphase Energy stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $29.13, for a total transaction of $4,369,500.00. Following the sale, the director directly owned 1,733,596 shares in the company, valued at $50,499,651.48. The trade was a 7.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Invesco Ltd. boosted its stake in Enphase Energy by 28.1% during the second quarter. Invesco Ltd. now owns 6,743,674 shares of the semiconductor company’s stock worth $267,387,000 after acquiring an additional 1,479,153 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Enphase Energy by 264.7% during the second quarter. Federated Hermes Inc. now owns 1,477,751 shares of the semiconductor company’s stock valued at $58,593,000 after purchasing an additional 1,072,602 shares in the last quarter. Norges Bank purchased a new position in shares of Enphase Energy during the second quarter valued at approximately $40,946,000. Assenagon Asset Management S.A. lifted its holdings in shares of Enphase Energy by 827.3% during the second quarter. Assenagon Asset Management S.A. now owns 1,152,546 shares of the semiconductor company’s stock valued at $45,698,000 after purchasing an additional 1,028,259 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its position in shares of Enphase Energy by 2,322.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 876,983 shares of the semiconductor company’s stock worth $34,772,000 after purchasing an additional 840,787 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.