Enphase Energy, Inc. (NASDAQ:ENPH) Receives Average Rating of “Reduce” from Analysts

Enphase Energy, Inc. (NASDAQ:ENPH) has been given a consensus recommendation of “Reduce” by the thirty-one brokerages that are covering the firm, MarketBeat reports. Thirteen research analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $40.5737.

ENPH has been the subject of several research reports. Northland Securities lifted their target price on shares of Enphase Energy from $52.00 to $62.00 and gave the company an “outperform” rating in a report on Monday. Mizuho cut Enphase Energy from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $50.00 to $37.00 in a research note on Thursday, October 23rd. BMO Capital Markets reiterated an “underperform” rating and issued a $31.00 price objective on shares of Enphase Energy in a report on Wednesday, October 29th. Evercore ISI set a $33.00 target price on Enphase Energy in a research note on Wednesday, October 29th. Finally, Susquehanna set a $33.00 target price on Enphase Energy in a report on Thursday, October 30th.

Insider Activity

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 10,000 shares of Enphase Energy stock in a transaction on Friday, October 31st. The shares were bought at an average cost of $30.93 per share, for a total transaction of $309,300.00. Following the acquisition, the chief executive officer directly owned 1,630,632 shares in the company, valued at $50,435,447.76. This represents a 0.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mandy Yang sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $33.01, for a total transaction of $198,060.00. Following the completion of the transaction, the executive vice president directly owned 68,987 shares of the company’s stock, valued at $2,277,260.87. This represents a 8.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.10% of the company’s stock.

Institutional Trading of Enphase Energy

Several hedge funds have recently modified their holdings of the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Enphase Energy by 431.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 514 shares in the last quarter. Salomon & Ludwin LLC increased its stake in shares of Enphase Energy by 761.0% during the third quarter. Salomon & Ludwin LLC now owns 861 shares of the semiconductor company’s stock worth $32,000 after buying an additional 761 shares during the period. Stance Capital LLC purchased a new stake in shares of Enphase Energy during the third quarter worth approximately $32,000. Geneos Wealth Management Inc. raised its holdings in Enphase Energy by 199.7% in the third quarter. Geneos Wealth Management Inc. now owns 920 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 613 shares in the last quarter. Finally, Danske Bank A S purchased a new position in Enphase Energy in the third quarter worth approximately $39,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Stock Up 0.4%

Shares of ENPH opened at $33.13 on Tuesday. The firm has a market cap of $4.34 billion, a P/E ratio of 22.85 and a beta of 1.43. Enphase Energy has a 12-month low of $25.77 and a 12-month high of $76.90. The company’s 50-day moving average price is $31.14 and its 200 day moving average price is $35.19. The company has a current ratio of 2.04, a quick ratio of 1.88 and a debt-to-equity ratio of 0.57.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, October 28th. The semiconductor company reported $0.90 earnings per share for the quarter, topping the consensus estimate 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%. Enphase Energy’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 earnings per share. On average, sell-side analysts forecast that Enphase Energy will post 2.08 earnings per share for the current year.

Enphase Energy Company Profile

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.