Barclays Issues Pessimistic Forecast for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPHGet Free Report) had its price target lowered by analysts at Barclays from $35.00 to $31.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the semiconductor company’s stock. Barclays‘s target price would indicate a potential downside of 0.83% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Mizuho set a $39.00 price objective on shares of Enphase Energy in a research note on Wednesday, February 4th. Oppenheimer upped their target price on shares of Enphase Energy from $67.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Morgan Stanley reiterated an “underweight” rating and issued a $30.00 price target on shares of Enphase Energy in a research note on Wednesday, February 4th. HSBC raised Enphase Energy from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Wednesday, February 4th. Finally, Wall Street Zen upgraded Enphase Energy from a “sell” rating to a “hold” rating in a research report on Sunday, March 29th. Ten analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $42.70.

Check Out Our Latest Stock Report on Enphase Energy

Enphase Energy Trading Down 4.0%

Shares of NASDAQ:ENPH opened at $31.26 on Wednesday. The stock has a 50 day moving average of $42.36 and a 200 day moving average of $36.63. The company has a market cap of $4.12 billion, a PE ratio of 24.23 and a beta of 1.39. The company has a current ratio of 2.07, a quick ratio of 1.84 and a debt-to-equity ratio of 0.53. Enphase Energy has a 12-month low of $25.77 and a 12-month high of $55.41.

Enphase Energy (NASDAQ:ENPHGet Free Report) last released its earnings results on Tuesday, February 3rd. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.19. Enphase Energy had a net margin of 11.69% and a return on equity of 20.31%. The company had revenue of $343.32 million during the quarter, compared to analyst estimates of $340.45 million. During the same period in the prior year, the firm posted $0.94 EPS. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, equities research analysts expect that Enphase Energy will post 2.08 EPS for the current year.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 1,100 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $52.05, for a total value of $57,255.00. Following the sale, the director owned 9,370 shares in the company, valued at $487,708.50. The trade was a 10.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were bought at an average cost of $51.98 per share, with a total value of $259,900.00. Following the acquisition, the chief executive officer directly owned 1,640,632 shares in the company, valued at approximately $85,280,051.36. The trade was a 0.31% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Enphase Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Enphase Energy by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 16,329,647 shares of the semiconductor company’s stock worth $523,365,000 after acquiring an additional 246,876 shares during the last quarter. Norges Bank bought a new position in shares of Enphase Energy during the 4th quarter valued at approximately $118,190,000. Invesco Ltd. grew its holdings in shares of Enphase Energy by 36.2% in the fourth quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company’s stock valued at $101,244,000 after purchasing an additional 839,468 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Enphase Energy by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,510,509 shares of the semiconductor company’s stock valued at $80,478,000 after purchasing an additional 11,220 shares in the last quarter. Finally, Coatue Management LLC increased its position in Enphase Energy by 95.3% in the third quarter. Coatue Management LLC now owns 1,647,893 shares of the semiconductor company’s stock worth $58,319,000 after purchasing an additional 803,945 shares during the last quarter. 72.12% of the stock is owned by institutional investors.

Enphase Energy News Summary

Here are the key news stories impacting Enphase Energy this week:

Enphase Energy Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Enphase Energy (NASDAQ:ENPH)

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